Taylor Devices (NASDAQ:TAYD) Announces Quarterly Earnings Results, Beats Estimates By $0.01 EPS

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

Taylor Devices Stock Performance

Shares of Taylor Devices stock opened at $46.54 on Thursday. Taylor Devices has a 52-week low of $29.50 and a 52-week high of $53.73. The stock has a market capitalization of $146.60 million, a price-to-earnings ratio of 15.51 and a beta of 0.97. The company has a fifty day moving average of $46.71 and a 200-day moving average of $40.24.

Institutional Investors Weigh In On Taylor Devices

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TAYD. Tower Research Capital LLC TRC boosted its position in Taylor Devices by 253.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,014 shares of the industrial products company’s stock valued at $44,000 after buying an additional 727 shares during the period. Brevan Howard Capital Management LP purchased a new stake in Taylor Devices during the 2nd quarter valued at $246,000. Bank of America Corp DE boosted its position 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 buying an additional 301 shares during the period. Ameriprise Financial Inc. purchased a new stake in Taylor Devices during the 2nd quarter valued at $4,361,000. Finally, First Trust Advisors LP boosted its position in Taylor Devices by 4.1% during the 2nd quarter. First Trust Advisors LP now owns 10,127 shares of the industrial products company’s stock valued at $440,000 after buying an additional 399 shares during the period. 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 note 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.