Allspring Global Investments Holdings LLC Increases Holdings in Twin Disc, Incorporated $TWIN

Allspring Global Investments Holdings LLC grew its holdings in shares of Twin Disc, Incorporated (NASDAQ:TWIN) by 105.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 180,119 shares of the industrial products company’s stock after purchasing an additional 92,284 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 1.25% of Twin Disc worth $3,004,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in TWIN. Strs Ohio purchased a new stake in Twin Disc in the 1st quarter worth about $74,000. JPMorgan Chase & Co. increased its holdings in Twin Disc by 28.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,361 shares of the industrial products company’s stock worth $75,000 after acquiring an additional 1,193 shares during the last quarter. Bank of America Corp DE increased its holdings in Twin Disc by 40.9% in the 2nd quarter. Bank of America Corp DE now owns 15,811 shares of the industrial products company’s stock worth $140,000 after acquiring an additional 4,590 shares during the last quarter. Qube Research & Technologies Ltd purchased a new stake in Twin Disc in the 2nd quarter worth about $141,000. Finally, Marshall Wace LLP bought a new position in Twin Disc in the 2nd quarter worth about $186,000. Hedge funds and other institutional investors own 65.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Wall Street Zen upgraded Twin Disc from a “hold” rating to a “strong-buy” rating in a research note on Saturday, February 7th. Zacks Research upgraded Twin Disc to a “hold” rating in a research note on Tuesday, December 9th. Finally, Weiss Ratings downgraded Twin Disc from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, March 17th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $12.00.

Twin Disc Stock Up 0.7%

Shares of NASDAQ TWIN opened at $15.77 on Wednesday. Twin Disc, Incorporated has a 52 week low of $6.16 and a 52 week high of $19.63. The business has a 50-day simple moving average of $16.59 and a two-hundred day simple moving average of $16.10. The company has a quick ratio of 0.75, a current ratio of 2.12 and a debt-to-equity ratio of 0.22. The company has a market cap of $227.43 million, a P/E ratio of 10.51 and a beta of 0.72.

Twin Disc (NASDAQ:TWIN) last issued its quarterly earnings results on Wednesday, February 4th. The industrial products company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.17). The business had revenue of $90.18 million for the quarter, compared to the consensus estimate of $92.80 million. Twin Disc had a net margin of 6.26% and a return on equity of 0.02%.

Twin Disc Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Wednesday, February 18th were given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Wednesday, February 18th. Twin Disc’s dividend payout ratio (DPR) is 10.67%.

About Twin Disc

Twin Disc, Inc (NASDAQ: TWIN) is a global designer and manufacturer of power transmission equipment for marine and industrial applications. Headquartered in Racine, Wisconsin, the company develops a range of mechanical and digital solutions that control power delivery in demanding environments. Its portfolio includes marine gears, power take-offs, clutches, brakes, transmissions and controllable pitch propeller systems engineered to withstand heavy loads and corrosive conditions.

In addition to original equipment manufacturing, Twin Disc offers aftermarket parts and services, including maintenance, repair and overhaul support through a network of service centers worldwide.