Ellsworth Advisors LLC Acquires New Shares in Twin Disc, Incorporated $TWIN

Ellsworth Advisors LLC acquired a new stake in Twin Disc, Incorporated (NASDAQ:TWIN) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor acquired 37,269 shares of the industrial products company’s stock, valued at approximately $976,000. Ellsworth Advisors LLC owned 0.26% of Twin Disc at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. BlackRock Inc. bought a new position in shares of Twin Disc during the 2nd quarter worth approximately $17,239,000. Gabelli Funds LLC boosted its stake in Twin Disc by 1.5% in the 1st quarter. Gabelli Funds LLC now owns 400,524 shares of the industrial products company’s stock valued at $6,036,000 after buying an additional 6,000 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in Twin Disc by 8.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 194,474 shares of the industrial products company’s stock valued at $2,931,000 after acquiring an additional 14,355 shares during the period. IFP Advisors Inc grew its position in Twin Disc by 2.0% in the second quarter. IFP Advisors Inc now owns 120,357 shares of the industrial products company’s stock valued at $2,792,000 after acquiring an additional 2,368 shares during the period. Finally, Bank of New York Mellon Corp bought a new stake in Twin Disc in the second quarter valued at $2,684,000. 65.25% of the stock is owned by institutional investors and hedge funds.

Twin Disc Price Performance

Shares of Twin Disc stock opened at $25.35 on Friday. The company has a current ratio of 2.35, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $368.59 million, a price-to-earnings ratio of 29.94 and a beta of 0.59. Twin Disc, Incorporated has a 1-year low of $14.17 and a 1-year high of $29.24. The firm’s 50-day moving average price is $24.95 and its two-hundred day moving average price is $21.48.

Twin Disc (NASDAQ:TWIN) last posted its earnings results on Thursday, August 20th. The industrial products company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.41. Twin Disc had a net margin of 9.06% and a return on equity of 6.78%. The company had revenue of $114.40 million during the quarter, compared to analysts’ expectations of $100.35 million.

Twin Disc Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th were given a dividend of $0.05 per share. This is a boost from Twin Disc’s previous quarterly dividend of $0.04. The ex-dividend date was Tuesday, August 18th. This represents a $0.20 dividend on an annualized basis and a yield of 0.8%. Twin Disc’s dividend payout ratio is currently 8.40%.

Wall Street Analyst Weigh In

TWIN has been the subject of several recent analyst reports. Lake Street Capital began coverage on Twin Disc in a research note on Thursday, July 9th. They set a “buy” rating and a $30.00 price objective for the company. Wall Street Zen upgraded shares of Twin Disc from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 12th. Finally, Weiss Ratings upgraded shares of Twin Disc from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, October 8th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Twin Disc currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.00.

Insider Buying and Selling

In related news, CFO Jeffrey Knutson sold 7,482 shares of the firm’s stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $24.25, for a total transaction of $181,438.50. Following the completion of the sale, the chief financial officer directly owned 164,891 shares of the company’s stock, valued at $3,998,606.75. This trade represents a 4.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last 90 days, insiders sold 17,686 shares of company stock worth $417,606. 21.10% of the stock is owned by corporate insiders.

Twin Disc Company Profile

Twin Disc, Inc designs, manufactures and sells power transmission and propulsion systems for marine and industrial applications. The company’s products include marine transmissions, propulsion systems, controls, surface drives, propellers and related equipment used to transfer power from engines to vessels or machinery.

Its marine offerings serve pleasure craft, commercial vessels and workboats, while its industrial products support applications such as energy, construction, agriculture and other equipment that require power management and transmission solutions.