Taylor Devices (NASDAQ:TAYD) Issues Quarterly Earnings Results

Taylor Devices (NASDAQ:TAYD) posted its earnings results on Wednesday. The industrial products company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.69 by $0.01, Zacks reports. Taylor Devices had a net margin of 20.33% and a return on equity of 16.40%. The firm had revenue of $9.92 million during the quarter, compared to analysts’ expectations of $13.10 million.

Taylor Devices Price Performance

Shares of Taylor Devices stock opened at $46.54 on Thursday. The company has a 50-day moving average of $46.71 and a 200 day moving average of $40.24. The firm has a market cap of $146.60 million, a price-to-earnings ratio of 15.51 and a beta of 0.97. Taylor Devices has a 1 year low of $29.50 and a 1 year high of $53.73.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TAYD. Rhumbline Advisers increased its stake in shares of Taylor Devices by 24.8% in the 1st quarter. Rhumbline Advisers now owns 2,357 shares of the industrial products company’s stock worth $76,000 after acquiring an additional 468 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of Taylor Devices by 29.8% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 21,300 shares of the industrial products company’s stock worth $924,000 after acquiring an additional 4,888 shares in the last quarter. First Trust Advisors LP increased its stake in shares of Taylor Devices by 4.1% in the 2nd quarter. First Trust Advisors LP now owns 10,127 shares of the industrial products company’s stock worth $440,000 after acquiring an additional 399 shares in the last quarter. Ameriprise Financial Inc. bought a new stake in Taylor Devices during the 2nd quarter valued at about $4,361,000. Finally, Bank of America Corp DE increased its stake in Taylor Devices by 16.3% during the 2nd quarter. Bank of America Corp DE now owns 2,153 shares of the industrial products company’s stock valued at $93,000 after purchasing an additional 301 shares in the last quarter. 17.62% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Wall Street Zen raised shares of Taylor Devices from a “hold” rating to a “strong-buy” rating in a research report on Saturday, August 16th.

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.