Taylor Devices (NASDAQ:TAYD) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Taylor Devices (NASDAQ:TAYD) from a hold rating to a buy rating in a report published on Tuesday.

Taylor Devices Trading Up 0.7 %

Taylor Devices stock opened at $34.23 on Tuesday. The business’s 50 day simple moving average is $42.59 and its 200 day simple moving average is $47.51. Taylor Devices has a 12 month low of $27.82 and a 12 month high of $64.50. The company has a market cap of $107.35 million, a price-to-earnings ratio of 12.77 and a beta of 1.06.

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

Insider Transactions at Taylor Devices

In other Taylor Devices news, CEO Timothy John Sopko purchased 1,000 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The shares were bought at an average cost of $33.25 per share, for a total transaction of $33,250.00. Following the purchase, the chief executive officer now owns 9,000 shares of the company’s stock, valued at $299,250. This represents a 12.50 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 7.75% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of TAYD. Courier Capital LLC lifted its position in shares of Taylor Devices by 19.3% during the fourth quarter. Courier Capital LLC now owns 47,721 shares of the industrial products company’s stock worth $1,986,000 after acquiring an additional 7,721 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its stake in shares of Taylor Devices by 33.0% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 16,146 shares of the industrial products company’s stock valued at $798,000 after purchasing an additional 4,010 shares during the period. Barclays PLC lifted its holdings in Taylor Devices by 325.6% during the 3rd quarter. Barclays PLC now owns 3,426 shares of the industrial products company’s stock worth $172,000 after purchasing an additional 2,621 shares in the last quarter. Geode Capital Management LLC boosted its stake in Taylor Devices by 6.2% in the 3rd quarter. Geode Capital Management LLC now owns 61,814 shares of the industrial products company’s stock worth $3,087,000 after purchasing an additional 3,636 shares during the period. Finally, State Street Corp grew its holdings in Taylor Devices by 17.0% during the 3rd quarter. State Street Corp now owns 35,532 shares of the industrial products company’s stock valued at $1,774,000 after buying an additional 5,171 shares in 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.