8,816 Shares in Taylor Devices, Inc. $TAYD Acquired by Navellier & Associates Inc.

Navellier & Associates Inc. acquired a new stake in shares of Taylor Devices, Inc. (NASDAQ:TAYD) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 8,816 shares of the industrial products company’s stock, valued at approximately $517,000. Navellier & Associates Inc. owned 0.27% of Taylor Devices at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in TAYD. Rhumbline Advisers lifted its stake in Taylor Devices by 24.8% in the first quarter. Rhumbline Advisers now owns 2,357 shares of the industrial products company’s stock valued at $76,000 after buying an additional 468 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Taylor Devices by 29.8% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 21,300 shares of the industrial products company’s stock worth $924,000 after acquiring an additional 4,888 shares during the period. First Trust Advisors LP increased its holdings in shares of Taylor Devices by 4.1% in the 2nd quarter. First Trust Advisors LP now owns 10,127 shares of the industrial products company’s stock worth $440,000 after acquiring an additional 399 shares during the period. Ameriprise Financial Inc. bought a new stake in Taylor Devices in the 2nd quarter valued at about $4,361,000. Finally, Bank of America Corp DE lifted its position in Taylor Devices by 16.3% in 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 purchasing an additional 301 shares during the last quarter. 17.62% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on TAYD. Wall Street Zen lowered shares of Taylor Devices from a “buy” rating to a “hold” rating in a research note on Monday, August 3rd. Freedom Broker upgraded Taylor Devices from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $67.00 to $70.00 in a research report on Thursday, August 20th. Weiss Ratings lowered Taylor Devices from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, August 19th. Finally, Freedom Capital raised Taylor Devices from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 20th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $70.00.

Taylor Devices Price Performance

Shares of NASDAQ:TAYD opened at $60.00 on Friday. Taylor Devices, Inc. has a 12 month low of $40.50 and a 12 month high of $90.37. The stock has a market cap of $193.50 million, a price-to-earnings ratio of 22.81 and a beta of 0.94. The stock’s 50 day moving average price is $56.03 and its 200 day moving average price is $61.32.

Taylor Devices (NASDAQ:TAYD) last released its earnings results on Tuesday, August 18th. The industrial products company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.28). Taylor Devices had a return on equity of 12.49% and a net margin of 20.56%.The firm had revenue of $8.95 million during the quarter, compared to analyst estimates of $12.80 million.

About Taylor Devices

Taylor Devices, Inc is an engineering firm headquartered in North Tonawanda, New York, specializing in the design, development and manufacture of motion control products and engineered fluid-handling devices. The company’s core focus is on providing high-performance hydraulic dampers, fluid springs (also known as gas springs), shock absorbers and hydraulic accumulators that are used to manage energy and motion in a wide range of industrial and structural applications.

The company’s product portfolio includes industrial shock absorbers designed to cushion and decelerate moving parts in manufacturing and test-and-measurement systems, fluid viscous dampers for seismic protection of buildings and bridges, and fluid spring devices that combine the properties of a gas spring and a hydraulic damper.