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

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

Taylor Devices Stock Performance

Shares of TAYD opened at $33.61 on Monday. The firm has a market cap of $105.40 million, a P/E ratio of 11.59 and a beta of 1.06. Taylor Devices has a fifty-two week low of $23.15 and a fifty-two week high of $64.50. The business has a 50-day moving average of $43.99 and a 200 day moving average of $47.83.

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

Institutional Investors Weigh In On Taylor Devices

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. MetLife Investment Management LLC bought a new position in shares of Taylor Devices in the 3rd quarter worth $70,000. Rhumbline Advisers purchased a new position in shares of Taylor Devices in the 2nd quarter worth about $86,000. FMR LLC increased its position in shares of Taylor Devices by 1,138.6% during 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 last quarter. BNP Paribas Financial Markets raised its holdings 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 buying an additional 2,239 shares in the last quarter. Finally, Barclays PLC raised its holdings in shares of Taylor Devices by 325.6% during the 3rd quarter. Barclays PLC now owns 3,426 shares of the industrial products company’s stock valued at $172,000 after buying an additional 2,621 shares in the last quarter. 17.62% of the stock is owned by hedge funds and other institutional investors.

About Taylor Devices

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.