Martin & Co. Inc. TN Buys Shares of 58,200 Taylor Devices, Inc. $TAYD

Martin & Co. Inc. TN purchased a new stake in Taylor Devices, Inc. (NASDAQ:TAYD) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 58,200 shares of the industrial products company’s stock, valued at approximately $3,415,000. Martin & Co. Inc. TN owned 1.81% of Taylor Devices as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in TAYD. Rhumbline Advisers grew its stake in shares of Taylor Devices by 24.8% during the first quarter. Rhumbline Advisers now owns 2,357 shares of the industrial products company’s stock worth $76,000 after purchasing an additional 468 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in Taylor Devices by 29.8% in the second quarter. Arrowstreet Capital Limited Partnership now owns 21,300 shares of the industrial products company’s stock valued at $924,000 after buying an additional 4,888 shares during the period. First Trust Advisors LP lifted its stake in Taylor Devices by 4.1% in the second quarter. First Trust Advisors LP now owns 10,127 shares of the industrial products company’s stock valued at $440,000 after buying an additional 399 shares during the period. Ameriprise Financial Inc. bought a new position in Taylor Devices during the second quarter worth about $4,361,000. Finally, Bank of America Corp DE boosted its holdings in Taylor Devices by 16.3% during the second quarter. Bank of America Corp DE now owns 2,153 shares of the industrial products company’s stock worth $93,000 after buying an additional 301 shares during the last quarter. 17.62% of the stock is currently owned by institutional investors.

Taylor Devices Trading Up 4.9%

Shares of Taylor Devices stock opened at $58.52 on Friday. The stock’s fifty day simple moving average is $55.49 and its 200 day simple moving average is $61.96. The company has a market capitalization of $188.43 million, a PE ratio of 22.25 and a beta of 0.94. Taylor Devices, Inc. has a 12 month low of $40.50 and a 12 month high of $90.37.

Taylor Devices (NASDAQ:TAYD) last posted its earnings results on Tuesday, August 18th. The industrial products company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.28). The business had revenue of $8.95 million during the quarter, compared to analyst estimates of $12.80 million. Taylor Devices had a net margin of 20.56% and a return on equity of 12.49%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on TAYD shares. Wall Street Zen cut Taylor Devices from a “buy” rating to a “hold” rating in a research note on Monday, August 3rd. Freedom Capital raised shares of Taylor Devices from a “hold” rating to a “strong-buy” rating in a research note on Thursday. Finally, Weiss Ratings cut shares of Taylor Devices from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy”.

Taylor Devices Profile

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.