Taylor Devices (NASDAQ:TAYD) Upgraded to “Strong-Buy” at StockNews.com

StockNews.com upgraded shares of Taylor Devices (NASDAQ:TAYDFree Report) from a buy rating to a strong-buy rating in a research report sent to investors on Monday morning.

Taylor Devices Price Performance

NASDAQ:TAYD opened at $50.73 on Monday. The company has a market cap of $178.57 million, a P/E ratio of 20.37 and a beta of 1.01. The stock’s fifty day moving average price is $37.80 and its two-hundred day moving average price is $28.21. Taylor Devices has a 1 year low of $18.06 and a 1 year high of $53.50.

Taylor Devices (NASDAQ:TAYDGet Free Report) last posted its earnings results on Wednesday, January 10th. The industrial products company reported $0.56 earnings per share (EPS) for the quarter. The firm had revenue of $10.34 million for the quarter. Taylor Devices had a return on equity of 16.50% and a net margin of 19.87%.

Insider Transactions at Taylor Devices

In other news, major shareholder Ira Sochet sold 459,015 shares of the company’s stock in a transaction on Wednesday, January 10th. The shares were sold at an average price of $19.92, for a total value of $9,143,578.80. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 7.84% of the company’s stock.

Institutional Investors Weigh In On Taylor Devices

Large investors have recently added to or reduced their stakes in the company. Acadian Asset Management LLC purchased a new position in shares of Taylor Devices in the first quarter worth about $31,000. Morgan Stanley increased its holdings in shares of Taylor Devices by 34.0% in the fourth quarter. Morgan Stanley now owns 7,743 shares of the industrial products company’s stock worth $110,000 after buying an additional 1,965 shares during the period. Royal Bank of Canada increased its holdings in shares of Taylor Devices by 33.8% in the second quarter. Royal Bank of Canada now owns 9,100 shares of the industrial products company’s stock worth $233,000 after buying an additional 2,300 shares during the period. Dimensional Fund Advisors LP purchased a new position in shares of Taylor Devices in the third quarter worth about $105,000. Finally, BlackRock Inc. increased its holdings in shares of Taylor Devices by 217.8% in the second quarter. BlackRock Inc. now owns 11,169 shares of the industrial products company’s stock worth $285,000 after buying an additional 7,654 shares during the period. Hedge funds and other institutional investors own 17.62% of the company’s stock.

Taylor Devices Company Profile

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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.

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