Taylor Devices (NASDAQ:TAYD) Downgraded by StockNews.com to Hold

StockNews.com cut shares of Taylor Devices (NASDAQ:TAYD) from a strong-buy rating to a hold rating in a research report sent to investors on Monday.

Taylor Devices Stock Performance

TAYD opened at $34.77 on Monday. The stock has a market capitalization of $108.45 million, a PE ratio of 11.99 and a beta of 1.06. Taylor Devices has a one year low of $22.22 and a one year high of $64.50. The business’s 50 day moving average price is $44.77 and its 200 day moving average price is $48.04.

Taylor Devices (NASDAQ:TAYD) last released its quarterly earnings results on Friday, January 3rd. The industrial products company reported $0.34 earnings per share for the quarter. Taylor Devices had a return on equity of 18.95% and a net margin of 21.22%. During the same quarter in the previous year, the firm posted $0.56 earnings per share.

Institutional Trading of Taylor Devices

Several hedge funds have recently made changes to their positions in TAYD. Janney Montgomery Scott LLC lifted its holdings in Taylor Devices by 0.6% during the 3rd quarter. Janney Montgomery Scott LLC now owns 134,981 shares of the industrial products company’s stock worth $6,738,000 after buying an additional 871 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Taylor Devices by 6.2% during the third quarter. Geode Capital Management LLC now owns 61,814 shares of the industrial products company’s stock worth $3,087,000 after acquiring an additional 3,636 shares during the period. State Street Corp raised its stake in shares of Taylor Devices by 17.0% in the third quarter. State Street Corp now owns 35,532 shares of the industrial products company’s stock valued at $1,774,000 after acquiring an additional 5,171 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Taylor Devices by 22.3% in the second quarter. Dimensional Fund Advisors LP now owns 32,290 shares of the industrial products company’s stock valued at $1,452,000 after purchasing an additional 5,890 shares during the period. Finally, American Century Companies Inc. acquired a new position in Taylor Devices during the 2nd quarter worth $1,206,000. Institutional investors and hedge funds own 17.62% of the company’s stock.

About Taylor Devices

Taylor Devices, Inc engages in design, development, manufacture, and marketing of shock absorption, rate control, and energy storage devices for use in machinery, equipment, and structures in the United States, Asia, and internationally. Its products include seismic dampers that are designed to mitigate the effects of earthquakes on structures; Fluidicshoks, which are compact shock absorbers primarily used in defense, aerospace, and commercial industries; and crane and industrial buffers, which are larger versions of the Fluidicshoks for industrial application on cranes and crane trolleys, truck docks, ladle and ingot cars, ore trolleys, and train car stops.