Taylor Devices (NASDAQ:TAYD) Upgraded by StockNews.com to “Buy” Rating

Taylor Devices (NASDAQ:TAYD) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Monday.

Taylor Devices Trading Up 0.7 %

Shares of TAYD opened at $32.51 on Monday. Taylor Devices has a 12 month low of $30.18 and a 12 month high of $64.50. The business’s fifty day simple moving average is $32.39 and its two-hundred day simple moving average is $40.85. The company has a market cap of $101.95 million, a price-to-earnings ratio of 12.13 and a beta of 1.05.

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

Insider Buying and Selling

In other news, CEO Timothy John Sopko bought 1,000 shares of the company’s stock in a transaction on Monday, January 13th. The shares were acquired at an average cost of $33.25 per share, with a total value of $33,250.00. Following the completion of the transaction, the chief executive officer now owns 9,000 shares of the company’s stock, valued at approximately $299,250. This trade represents a 12.50 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 7.75% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Taylor Devices

Several institutional investors have recently made changes to their positions in TAYD. MetLife Investment Management LLC purchased a new stake in Taylor Devices during the third quarter valued at approximately $70,000. FMR LLC grew 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 acquiring an additional 1,651 shares during the period. Bank of America Corp DE increased its stake in shares of Taylor Devices by 57.1% in the 4th quarter. Bank of America Corp DE now owns 2,800 shares of the industrial products company’s stock worth $117,000 after purchasing an additional 1,018 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in Taylor Devices by 261.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,096 shares of the industrial products company’s stock worth $155,000 after purchasing an additional 2,239 shares during the period. Finally, Barclays PLC lifted its position in Taylor Devices by 325.6% during the third quarter. Barclays PLC now owns 3,426 shares of the industrial products company’s stock valued at $172,000 after purchasing an additional 2,621 shares in the last quarter. Institutional investors own 17.62% of the company’s stock.

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.