Twin Disc, Incorporated (NASDAQ:TWIN – Get Free Report)’s stock price crossed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $20.85 and traded as high as $29.24. Twin Disc shares last traded at $28.72, with a volume of 89,198 shares.
Analyst Upgrades and Downgrades
A number of brokerages have commented on TWIN. Wall Street Zen raised Twin Disc from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 12th. Lake Street Capital assumed coverage on shares of Twin Disc in a research note on Thursday, July 9th. They issued a “buy” rating and a $30.00 price target on the stock. Finally, Weiss Ratings cut shares of Twin Disc from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, September 8th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Twin Disc currently has an average rating of “Hold” and an average target price of $30.00.
Check Out Our Latest Research Report on TWIN
Twin Disc Stock Down 4.7%
Twin Disc (NASDAQ:TWIN – Get Free Report) last announced its quarterly earnings data 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 business had revenue of $114.40 million for 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. Stockholders of record on Tuesday, August 18th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.7%. The ex-dividend date 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 8.40%.
Insider Buying and Selling at Twin Disc
In related news, CFO Jeffrey Knutson sold 7,482 shares of the company’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 in the company, valued at $3,998,606.75. This represents a 4.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last ninety days, insiders sold 17,686 shares of company stock worth $417,606. 21.10% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Twin Disc
A number of hedge funds have recently made changes to their positions in TWIN. BlackRock Inc. acquired a new position in Twin Disc during the 2nd quarter worth approximately $17,239,000. Gabelli Funds LLC lifted its stake in shares of 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 acquiring an additional 6,000 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Twin Disc by 8.0% during the 1st 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 in the last quarter. IFP Advisors Inc grew its position in Twin Disc by 2.0% during the 2nd quarter. IFP Advisors Inc now owns 120,357 shares of the industrial products company’s stock worth $2,792,000 after acquiring an additional 2,368 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in Twin Disc in the 2nd quarter worth about $2,684,000. 65.25% of the stock is currently owned by institutional investors and hedge funds.
About Twin Disc
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.
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