Taylor Devices (NASDAQ:TAYD) Cut to Hold at StockNews.com

StockNews.com downgraded shares of Taylor Devices (NASDAQ:TAYD) from a strong-buy rating to a hold rating in a research report sent to investors on Monday.

Taylor Devices Trading Down 2.1 %

Shares of NASDAQ:TAYD opened at $33.61 on Monday. The stock has a market capitalization of $105.40 million, a P/E ratio of 11.59 and a beta of 1.06. The stock’s 50-day moving average price is $43.99 and its 200-day moving average price is $47.83. Taylor Devices has a 12-month low of $23.15 and a 12-month high of $64.50.

Taylor Devices (NASDAQ:TAYD) last issued its earnings results on Friday, January 3rd. The industrial products company reported $0.34 earnings per share (EPS) for the quarter. Taylor Devices had a net margin of 21.22% and a return on equity of 18.95%. During the same period in the previous year, the business earned $0.56 EPS.

Hedge Funds Weigh In On Taylor Devices

Hedge funds have recently made changes to their positions in the business. Bank of New York Mellon Corp purchased a new stake in Taylor Devices in the second quarter worth $286,000. Rhumbline Advisers purchased a new stake in shares of Taylor Devices in the 2nd quarter worth about $86,000. LSV Asset Management lifted its position in shares of Taylor Devices by 239.5% in the 2nd quarter. LSV Asset Management now owns 8,149 shares of the industrial products company’s stock worth $367,000 after purchasing an additional 5,749 shares during the period. American Century Companies Inc. bought a new stake in shares of Taylor Devices during the 2nd quarter valued at about $1,206,000. Finally, Dimensional Fund Advisors LP increased its position in shares of Taylor Devices by 22.3% during the second quarter. Dimensional Fund Advisors LP now owns 32,290 shares of the industrial products company’s stock valued at $1,452,000 after buying an additional 5,890 shares during the period. 17.62% of the stock is owned by hedge funds and other institutional investors.

Taylor Devices Company Profile

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.