Taylor Devices (NASDAQ:TAYD) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of Taylor Devices (NASDAQ:TAYD) from a hold rating to a buy rating in a research note issued to investors on Monday morning.

Taylor Devices Stock Performance

Shares of NASDAQ TAYD opened at $33.28 on Monday. Taylor Devices has a fifty-two week low of $30.18 and a fifty-two week high of $64.50. The company has a market cap of $104.40 million, a price-to-earnings ratio of 12.42 and a beta of 0.91. The business’s 50 day moving average price is $32.36 and its 200-day moving average price is $40.80.

Taylor Devices (NASDAQ:TAYD) last released its earnings results on Friday, March 28th. The industrial products company reported $0.64 earnings per share for the quarter. Taylor Devices had a return on equity of 17.04% and a net margin of 19.99%. The business had revenue of $10.57 million for the quarter.

Insider Activity at Taylor Devices

In other news, CEO Timothy John Sopko acquired 1,000 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The shares were bought at an average price of $33.25 per share, with a total value of $33,250.00. Following the completion of the purchase, the chief executive officer now directly owns 9,000 shares in the company, valued at $299,250. This trade represents a 12.50 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 7.75% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Taylor Devices

Several hedge funds have recently made changes to their positions in the company. Bank of America Corp DE increased its stake in shares of Taylor Devices by 57.1% during the fourth quarter. Bank of America Corp DE now owns 2,800 shares of the industrial products company’s stock valued at $117,000 after buying an additional 1,018 shares during the period. Barclays PLC grew its holdings in Taylor Devices by 33.9% during the 4th quarter. Barclays PLC now owns 4,588 shares of the industrial products company’s stock worth $191,000 after acquiring an additional 1,162 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Taylor Devices by 18.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 8,964 shares of the industrial products company’s stock worth $373,000 after acquiring an additional 1,366 shares in the last quarter. MetLife Investment Management LLC purchased a new position in Taylor Devices during the 3rd quarter valued at about $70,000. Finally, FMR LLC raised its holdings in shares of Taylor Devices by 1,138.6% in the 3rd quarter. FMR LLC now owns 1,796 shares of the industrial products company’s stock valued at $90,000 after purchasing an additional 1,651 shares in the last quarter. 17.62% of the stock is currently owned by hedge funds and other institutional investors.

Taylor Devices Company Profile

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.