Jeffrey Scott Knutson Sells 5,902 Shares of Twin Disc (NASDAQ:TWIN) Stock

Twin Disc, Incorporated (NASDAQ:TWIN) CFO Jeffrey Scott Knutson sold 5,902 shares of the business’s stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $23.25, for a total transaction of $137,221.50. Following the sale, the chief financial officer directly owned 172,373 shares of the company’s stock, valued at approximately $4,007,672.25. The trade was a 3.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Jeffrey Scott Knutson also recently made the following trade(s):

• On Tuesday, September 8th, Jeffrey Scott Knutson sold 7,482 shares of Twin Disc stock. The shares were sold at an average price of $24.25, for a total transaction of $181,438.50.
• On Thursday, September 3rd, Jeffrey Scott Knutson sold 4,302 shares of Twin Disc stock. The shares were sold at an average price of $23.00, for a total transaction of $98,946.00.

Twin Disc Price Performance

TWIN stock opened at $24.67 on Thursday. The company has a market capitalization of $355.82 million, a P/E ratio of 10.37 and a beta of 0.67. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.81 and a current ratio of 2.35. Twin Disc, Incorporated has a 52-week low of $12.79 and a 52-week high of $25.50. The business has a 50-day simple moving average of $23.27 and a two-hundred day simple moving average of $19.71.

Twin Disc (NASDAQ:TWIN) last issued its quarterly earnings data on Thursday, August 20th. The industrial products company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.23 by $0.41. The firm had revenue of $114.40 million during the quarter, compared to the consensus estimate of $100.35 million. Twin Disc had a return on equity of 6.78% and a net margin of 9.06%.

Twin Disc Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th were issued 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 is currently 8.40%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on TWIN. Weiss Ratings cut Twin Disc from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday. Wall Street Zen lowered shares of Twin Disc from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 6th. Finally, Lake Street Capital assumed coverage on shares of Twin Disc in a report on Thursday, July 9th. They issued a “buy” rating and a $30.00 target price for the company. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $30.00.

Hedge Funds Weigh In On Twin Disc

Hedge funds and other institutional investors have recently modified their holdings of the business. IFP Advisors Inc grew its holdings in shares of Twin Disc by 2.0% in the second quarter. IFP Advisors Inc now owns 120,357 shares of the industrial products company’s stock valued at $2,792,000 after acquiring an additional 2,368 shares in the last quarter. Squarepoint Ops LLC bought a new stake in Twin Disc during the second quarter worth $526,000. California State Teachers Retirement System bought a new stake in Twin Disc during the second quarter worth $86,000. Empowered Funds LLC purchased a new position in Twin Disc in the second quarter worth $666,000. Finally, Bank of America Corp DE purchased a new position in Twin Disc in the second quarter worth $259,000. Hedge funds and other institutional investors own 65.25% of the company’s stock.

About Twin Disc

Twin Disc, Inc (NASDAQ: TWIN) is a global designer and manufacturer of power transmission equipment for marine and industrial applications. Headquartered in Racine, Wisconsin, the company develops a range of mechanical and digital solutions that control power delivery in demanding environments. Its portfolio includes marine gears, power take-offs, clutches, brakes, transmissions and controllable pitch propeller systems engineered to withstand heavy loads and corrosive conditions.

In addition to original equipment manufacturing, Twin Disc offers aftermarket parts and services, including maintenance, repair and overhaul support through a network of service centers worldwide.