Twin Disc (NASDAQ:TWIN) CFO Sells $98,946.00 in Stock

Twin Disc, Incorporated (NASDAQ:TWINGet Free Report) CFO Jeffrey Scott Knutson sold 4,302 shares of the company’s stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $23.00, for a total transaction of $98,946.00. Following the completion of the transaction, the chief financial officer owned 178,275 shares in the company, valued at approximately $4,100,325. This represents a 2.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Twin Disc Price Performance

Twin Disc stock opened at $23.85 on Monday. The company has a market capitalization of $343.99 million, a PE ratio of 10.02 and a beta of 0.67. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.81 and a current ratio of 2.09. Twin Disc, Incorporated has a fifty-two week low of $12.79 and a fifty-two week high of $25.50. The firm has a 50 day moving average price of $23.20 and a 200 day moving average price of $19.57.

Twin Disc (NASDAQ:TWINGet Free Report) last released its quarterly earnings results on Thursday, August 20th. The industrial products company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.41. Twin Disc had a return on equity of 7.19% and a net margin of 9.06%.The company had revenue of $114.40 million for the quarter, compared to analysts’ expectations of $100.35 million.

Twin Disc Increases Dividend

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

Analyst Ratings Changes

TWIN has been the topic of a number of recent research reports. Weiss Ratings upgraded shares of Twin Disc from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, June 12th. Lake Street Capital initiated coverage on shares of Twin Disc in a research note on Thursday, July 9th. They set a “buy” rating and a $30.00 target price on the stock. Finally, Wall Street Zen cut shares of Twin Disc from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 6th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $30.00.

Get Our Latest Report on TWIN

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in TWIN. Meros Investment Management LP acquired a new position in Twin Disc in the second quarter valued at approximately $1,864,746. BlackRock Inc. acquired a new stake in Twin Disc during the second quarter worth approximately $17,239,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Twin Disc during the 2nd quarter worth approximately $2,137,000. North Star Investment Management Corp. acquired a new position in shares of Twin Disc in the 1st quarter valued at $874,000. Finally, Empowered Funds LLC acquired a new position in shares of Twin Disc in the 2nd quarter valued at $666,000. Hedge funds and other institutional investors own 65.25% of the company’s stock.

About Twin Disc

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Twin Disc, Inc (NASDAQ: TWIN) is a global designer and manufacturer of power transmission equipment for marine and industrial applications. Headquartered in Racine, Wisconsin, the company develops a range of mechanical and digital solutions that control power delivery in demanding environments. Its portfolio includes marine gears, power take-offs, clutches, brakes, transmissions and controllable pitch propeller systems engineered to withstand heavy loads and corrosive conditions.

In addition to original equipment manufacturing, Twin Disc offers aftermarket parts and services, including maintenance, repair and overhaul support through a network of service centers worldwide.

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