Twin Disc (NASDAQ:TWIN) Share Price Crosses Above 200-Day Moving Average – Here’s Why

Twin Disc, Incorporated (NASDAQ:TWIN) shares crossed above its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of $21.34 and traded as high as $27.01. Twin Disc shares last traded at $26.79, with a volume of 58,073 shares trading hands.

Analyst Ratings Changes

Several brokerages recently commented on TWIN. Weiss Ratings raised Twin Disc from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. Wall Street Zen raised Twin Disc from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 12th. Finally, Lake Street Capital began coverage on Twin Disc in a research report on Thursday, July 9th. They issued a “buy” rating and a $30.00 target price on the stock. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Twin Disc has an average rating of “Moderate Buy” and an average price target of $30.00.

Twin Disc Stock Performance

The business has a 50-day simple moving average of $24.91 and a 200 day simple moving average of $21.41. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.35 and a quick ratio of 0.84. The firm has a market cap of $368.59 million, a PE ratio of 10.65 and a beta of 0.59.

Twin Disc (NASDAQ:TWIN) last posted its quarterly earnings data on Thursday, August 20th. The industrial products company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.41. Twin Disc had a return on equity of 6.78% and a net margin of 9.06%. The firm 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 disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.8%. This is an increase from Twin Disc’s previous quarterly dividend of $0.04. The ex-dividend date was Tuesday, August 18th. Twin Disc’s dividend payout ratio (DPR) is 8.40%.

Insider Activity

In other news, CFO Jeffrey Knutson sold 7,482 shares of the company’s stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $24.25, for a total transaction of $181,438.50. Following the sale, the chief financial officer directly owned 164,891 shares in the company, valued at approximately $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 can be accessed through the SEC website. In the last 90 days, insiders have sold 17,686 shares of company stock worth $417,606. 21.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Twin Disc

A number of institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. bought a new stake in shares of Twin Disc in the 2nd quarter worth about $17,239,000. Gabelli Funds LLC boosted its stake in shares of Twin Disc by 1.5% during the 1st quarter. Gabelli Funds LLC now owns 400,524 shares of the industrial products company’s stock worth $6,036,000 after purchasing an additional 6,000 shares during the period. Allspring Global Investments Holdings LLC boosted its stake 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 worth $2,931,000 after purchasing an additional 14,355 shares during the period. IFP Advisors Inc grew its holdings 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 valued at $2,792,000 after purchasing an additional 2,368 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new position in Twin Disc during the 2nd quarter valued at about $2,684,000. Hedge funds and other institutional investors own 65.25% of the company’s stock.

Twin Disc Company Profile

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.