Taylor Devices (NASDAQ:TAYD) Rating Lowered to Hold at StockNews.com

Taylor Devices (NASDAQ:TAYD) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Wednesday.

Taylor Devices Stock Performance

NASDAQ:TAYD opened at $34.30 on Wednesday. The stock has a market capitalization of $107.56 million, a price-to-earnings ratio of 12.80 and a beta of 1.06. Taylor Devices has a 1 year low of $29.26 and a 1 year high of $64.50. The stock has a fifty day moving average price of $41.75 and a two-hundred day moving average price of $47.30.

Taylor Devices (NASDAQ:TAYD) last posted its quarterly earnings results on Friday, January 3rd. The industrial products company reported $0.34 earnings per share (EPS) for the quarter. Taylor Devices had a net margin of 19.99% and a return on equity of 17.04%. During the same quarter in the prior year, the business posted $0.56 earnings per share.

Insider Activity at Taylor Devices

In other Taylor Devices news, CEO Timothy John Sopko purchased 1,000 shares of the firm’s stock in a transaction on Monday, January 13th. The shares were purchased at an average cost of $33.25 per share, with a total value of $33,250.00. Following the purchase, the chief executive officer now owns 9,000 shares in the company, valued at approximately $299,250. This represents a 12.50 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 7.75% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Taylor Devices

Large investors have recently modified their holdings of the company. Janney Montgomery Scott LLC raised its position in Taylor Devices by 0.6% in the third quarter. Janney Montgomery Scott LLC now owns 134,981 shares of the industrial products company’s stock valued at $6,738,000 after purchasing an additional 871 shares during the period. Geode Capital Management LLC grew its stake 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 valued at $3,087,000 after acquiring an additional 3,636 shares in the last quarter. Courier Capital LLC boosted its holdings in Taylor Devices by 19.3% in the fourth quarter. Courier Capital LLC now owns 47,721 shares of the industrial products company’s stock valued at $1,986,000 after purchasing an additional 7,721 shares during the last quarter. State Street Corp raised its position in shares of Taylor Devices by 17.0% in the 3rd quarter. State Street Corp now owns 35,532 shares of the industrial products company’s stock valued at $1,774,000 after purchasing an additional 5,171 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Taylor Devices by 22.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 32,290 shares of the industrial products company’s stock valued at $1,452,000 after acquiring an additional 5,890 shares during the last quarter. 17.62% of the stock is currently owned by hedge funds and other institutional investors.

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.