37,269 Shares of Twin Disc, Incorporated $TWIN Purchased by Ellsworth Advisors LLC

Ellsworth Advisors LLC purchased a new position in shares of Twin Disc, Incorporated (NASDAQ:TWIN) during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 37,269 shares of the industrial products company’s stock, valued at approximately $976,000.

A number of other hedge funds have also recently added to or reduced their stakes in TWIN. IFP Advisors Inc increased its position in Twin Disc by 2.0% in the 2nd 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 position in shares of Twin Disc in the second quarter worth about $526,000. Empowered Funds LLC bought a new position in shares of Twin Disc in the second quarter worth about $666,000. Bank of America Corp DE bought a new position in shares of Twin Disc in the second quarter worth about $259,000. Finally, Meros Investment Management LP acquired a new position in shares of Twin Disc during the second quarter worth approximately $1,864,746. Institutional investors own 65.25% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on TWIN. Lake Street Capital initiated coverage on shares of Twin Disc in a research note on Thursday, July 9th. They set a “buy” rating and a $30.00 price target on the stock. Weiss Ratings raised shares of Twin Disc from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. Finally, Wall Street Zen upgraded shares of Twin Disc from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 12th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, Twin Disc currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.00.

Twin Disc Trading Down 2.7%

TWIN stock opened at $25.35 on Friday. The company has a market cap of $368.59 million, a P/E ratio of 29.94 and a beta of 0.59. Twin Disc, Incorporated has a twelve month low of $14.17 and a twelve month high of $29.24. The company has a quick ratio of 0.84, a current ratio of 2.35 and a debt-to-equity ratio of 0.13. The business has a fifty day moving average of $24.95 and a 200-day moving average of $21.48.

Twin Disc (NASDAQ:TWIN) last issued its quarterly earnings results on Thursday, August 20th. The industrial products company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.41. The business had revenue of $114.40 million for the quarter, compared to analyst estimates 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 company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th were given a $0.05 dividend. The ex-dividend date was Tuesday, August 18th. This is a positive change from Twin Disc’s previous quarterly dividend of $0.04. This represents a $0.20 dividend on an annualized basis and a yield of 0.8%. Twin Disc’s dividend payout ratio is 8.40%.

Insiders Place Their Bets

In other Twin Disc news, CFO Jeffrey Knutson sold 7,482 shares of the business’s stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $24.25, for a total transaction of $181,438.50. Following the completion of the sale, the chief financial officer directly owned 164,891 shares of the company’s stock, valued at approximately $3,998,606.75. The trade was a 4.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last three months, insiders sold 17,686 shares of company stock worth $417,606. Insiders own 21.10% of the company’s stock.

Twin Disc 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.