Taylor Devices (NASDAQ:TAYD) Lowered to “Hold” Rating by StockNews.com

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

Taylor Devices Stock Down 1.3 %

Shares of Taylor Devices stock opened at $34.33 on Monday. The firm has a market cap of $107.08 million, a price-to-earnings ratio of 11.84 and a beta of 1.06. Taylor Devices has a 52-week low of $22.22 and a 52-week high of $64.50. The company’s 50-day simple moving average is $44.51 and its 200-day simple moving average is $47.99.

Taylor Devices (NASDAQ:TAYD) last announced its quarterly earnings data 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 period last year, the firm posted $0.56 EPS.

Hedge Funds Weigh In On Taylor Devices

Large investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp purchased a new stake in Taylor Devices during the second quarter worth $286,000. Rhumbline Advisers acquired a new position in shares of Taylor Devices during the 2nd quarter worth $86,000. LSV Asset Management boosted its position in shares of Taylor Devices by 239.5% in the 2nd quarter. LSV Asset Management now owns 8,149 shares of the industrial products company’s stock worth $367,000 after buying an additional 5,749 shares in the last quarter. American Century Companies Inc. acquired a new stake in Taylor Devices in the 2nd quarter valued at about $1,206,000. Finally, Dimensional Fund Advisors LP increased its holdings 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 in the last quarter. Hedge funds and other institutional investors own 17.62% of the company’s stock.

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.