Taylor Devices (NASDAQ:TAYD) Upgraded by StockNews.com to Buy Rating

Taylor Devices (NASDAQ:TAYD) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Monday.

Taylor Devices Trading Down 2.9 %

NASDAQ:TAYD traded down $0.97 during mid-day trading on Monday, hitting $32.27. 28,246 shares of the company’s stock were exchanged, compared to its average volume of 26,706. Taylor Devices has a fifty-two week low of $30.18 and a fifty-two week high of $64.50. The company has a 50 day simple moving average of $32.42 and a 200-day simple moving average of $41.04. The firm has a market capitalization of $101.20 million, a P/E ratio of 12.04 and a beta of 1.05.

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

Insider Activity

In other news, CEO Timothy John Sopko purchased 1,000 shares of the company’s stock in a transaction dated Monday, January 13th. The shares were purchased at an average price of $33.25 per share, for a total transaction of $33,250.00. Following the transaction, the chief executive officer now owns 9,000 shares of the company’s stock, valued at approximately $299,250. This trade represents a 12.50 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 7.75% of the company’s stock.

Hedge Funds Weigh In On Taylor Devices

A number of hedge funds have recently bought and sold shares of the company. MetLife Investment Management LLC bought a new stake in Taylor Devices during the third quarter valued at $70,000. FMR LLC lifted its stake in shares of Taylor Devices by 1,138.6% in the 3rd quarter. FMR LLC now owns 1,796 shares of the industrial products company’s stock valued at $90,000 after purchasing an additional 1,651 shares during the period. Bank of America Corp DE boosted its position in shares of Taylor Devices by 57.1% during the 4th quarter. Bank of America Corp DE now owns 2,800 shares of the industrial products company’s stock valued at $117,000 after purchasing an additional 1,018 shares in the last quarter. BNP Paribas Financial Markets boosted its position in shares of Taylor Devices by 261.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 3,096 shares of the industrial products company’s stock valued at $155,000 after purchasing an additional 2,239 shares in the last quarter. Finally, Barclays PLC grew its stake in 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 purchasing an additional 2,621 shares during the period. Institutional investors own 17.62% of the company’s stock.

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.