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

StockNews.com upgraded shares of Taylor Devices (NASDAQ:TAYD) from a buy rating to a strong-buy rating in a report released on Monday.

Taylor Devices Stock Down 0.6 %

Shares of NASDAQ TAYD opened at $44.36 on Monday. The firm’s 50-day moving average price is $50.03 and its 200-day moving average price is $48.85. Taylor Devices has a 52-week low of $21.92 and a 52-week high of $64.50. The company has a market cap of $138.40 million, a PE ratio of 15.40 and a beta of 1.04.

Taylor Devices (NASDAQ:TAYD) last announced its earnings results on Friday, September 27th. The industrial products company reported $0.85 earnings per share for the quarter. Taylor Devices had a net margin of 21.22% and a return on equity of 18.95%. The business had revenue of $11.62 million during the quarter.

Institutional Investors Weigh In On Taylor Devices

Hedge funds and other institutional investors have recently modified their holdings of the stock. MetLife Investment Management LLC purchased a new position in Taylor Devices during the third quarter valued at $70,000. Rhumbline Advisers bought a new position in shares of Taylor Devices in the second quarter worth about $86,000. FMR LLC lifted its position in shares of Taylor Devices by 1,138.6% during the 3rd quarter. FMR LLC now owns 1,796 shares of the industrial products company’s stock valued at $90,000 after buying an additional 1,651 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of Taylor Devices by 261.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 3,096 shares of the industrial products company’s stock valued at $155,000 after acquiring an additional 2,239 shares during the period. Finally, Barclays PLC increased its holdings in Taylor Devices by 325.6% in the 3rd quarter. Barclays PLC now owns 3,426 shares of the industrial products company’s stock worth $172,000 after acquiring an additional 2,621 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.