Taylor Devices (NASDAQ:TAYD) Raised to Buy at StockNews.com

StockNews.com upgraded Taylor Devices (NASDAQ:TAYD) from a "hold" to a "buy" rating. The stock traded down 2.9% to $32.27 with a market cap of $101.20 million. Taylor Devices reported $0.64 EPS and $10.57 million in revenue for the last quarter. CEO Timothy Sopko purchased 1,000 shares, increasing his ownership by 12.5%. Institutional investors have also increased their stakes in the company, which specializes in shock absorption and energy storage devices.

Taylor Devices (NASDAQ:TAYD - Get Free Report) was upgraded by equities research analysts at StockNews.com from a "hold" rating to a "buy" rating in a note issued to investors on Monday.

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Taylor Devices Trading Down 2.9 %

NASDAQ TAYD traded down $0.97 during midday trading on Monday, hitting $32.27. The company had a trading volume of 28,246 shares, compared to its average volume of 26,706. The firm has a 50-day moving average price of $32.42 and a 200-day moving average price of $41.04. The company has a market capitalization of $101.20 million, a PE ratio of 12.04 and a beta of 1.05. Taylor Devices has a twelve month low of $30.18 and a twelve month high of $64.50.

Taylor Devices (NASDAQ:TAYD - Get Free Report) last posted its quarterly earnings results on Friday, March 28th. The industrial products company reported $0.64 EPS for the quarter. The business had revenue of $10.57 million during the quarter. Taylor Devices had a return on equity of 17.04% and a net margin of 19.99%.

Insider Buying and Selling

In other Taylor Devices news, CEO Timothy John Sopko acquired 1,000 shares of the company's stock in a transaction that occurred on Monday, January 13th. The stock was acquired at an average cost of $33.25 per share, for a total transaction of $33,250.00. Following the transaction, the chief executive officer now directly owns 9,000 shares in the company, valued at $299,250. This represents a 12.50 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 7.75% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. MetLife Investment Management LLC acquired a new stake in shares of Taylor Devices in the 3rd quarter valued at approximately $70,000. FMR LLC boosted its position in Taylor Devices by 1,138.6% in the third quarter. FMR LLC now owns 1,796 shares of the industrial products company's stock valued at $90,000 after buying an additional 1,651 shares in the last quarter. Bank of America Corp DE boosted its position in Taylor Devices by 57.1% in the fourth quarter. Bank of America Corp DE now owns 2,800 shares of the industrial products company's stock valued at $117,000 after buying an additional 1,018 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of Taylor Devices by 261.3% during the third quarter. BNP Paribas Financial Markets now owns 3,096 shares of the industrial products company's stock worth $155,000 after buying an additional 2,239 shares during the last quarter. Finally, Barclays PLC increased its holdings in shares of Taylor Devices by 325.6% during the third quarter. Barclays PLC now owns 3,426 shares of the industrial products company's stock worth $172,000 after buying an additional 2,621 shares in the last quarter. Institutional investors and hedge funds own 17.62% of the company's stock.

Taylor Devices Company Profile

(Get Free Report)

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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