Taylor Devices (NASDAQ:TAYD) Releases Quarterly Earnings Results

Taylor Devices (NASDAQ:TAYD) issued its quarterly earnings results on Wednesday. The industrial products company reported $0.64 earnings per share (EPS) for the quarter, Zacks reports. Taylor Devices had a return on equity of 14.90% and a net margin of 20.04%.

Taylor Devices Trading Down 3.1%

Taylor Devices stock traded down $1.96 on Wednesday, reaching $61.05. 1,721 shares of the stock were exchanged, compared to its average volume of 17,515. The firm has a fifty day moving average price of $50.21 and a two-hundred day moving average price of $46.90. Taylor Devices has a twelve month low of $29.50 and a twelve month high of $63.24. The stock has a market cap of $192.17 million, a PE ratio of 21.83 and a beta of 0.97.

Wall Street Analyst Weigh In

TAYD has been the topic of several research analyst reports. Wall Street Zen cut Taylor Devices from a “buy” rating to a “hold” rating in a research note on Saturday, December 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Taylor Devices in a report on Monday. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has an average rating of “Hold”.

Institutional Investors Weigh In On Taylor Devices

Large investors have recently modified their holdings of the company. Vanguard Group Inc. increased its stake in Taylor Devices by 2.1% in the 3rd quarter. Vanguard Group Inc. now owns 151,867 shares of the industrial products company’s stock worth $7,451,000 after buying an additional 3,121 shares in the last quarter. Ameriprise Financial Inc. acquired a new stake in shares of Taylor Devices in the second quarter valued at about $4,361,000. Dimensional Fund Advisors LP grew its holdings in shares of Taylor Devices by 1.7% in the third quarter. Dimensional Fund Advisors LP now owns 69,326 shares of the industrial products company’s stock valued at $3,401,000 after purchasing an additional 1,153 shares in the last quarter. Punch & Associates Investment Management Inc. raised its position in Taylor Devices by 2.7% in the 3rd quarter. Punch & Associates Investment Management Inc. now owns 51,325 shares of the industrial products company’s stock valued at $2,518,000 after purchasing an additional 1,325 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its position in Taylor Devices by 20.2% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 25,608 shares of the industrial products company’s stock worth $1,256,000 after purchasing an additional 4,308 shares in the last quarter. 17.62% of the stock is currently owned by institutional investors and hedge funds.

About Taylor Devices

Taylor Devices, Inc is an engineering firm headquartered in North Tonawanda, New York, specializing in the design, development and manufacture of motion control products and engineered fluid-handling devices. The company’s core focus is on providing high-performance hydraulic dampers, fluid springs (also known as gas springs), shock absorbers and hydraulic accumulators that are used to manage energy and motion in a wide range of industrial and structural applications.

The company’s product portfolio includes industrial shock absorbers designed to cushion and decelerate moving parts in manufacturing and test-and-measurement systems, fluid viscous dampers for seismic protection of buildings and bridges, and fluid spring devices that combine the properties of a gas spring and a hydraulic damper.