Corton Capital Inc. Invests $93,000 in Twin Disc, Incorporated $TWIN

Corton Capital Inc. purchased a new position in shares of Twin Disc, Incorporated (NASDAQ:TWIN) during the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 10,558 shares of the industrial products company’s stock, valued at approximately $93,000.

Several other hedge funds have also made changes to their positions in TWIN. Bank of New York Mellon Corp lifted its position in shares of Twin Disc by 4.9% during the first quarter. Bank of New York Mellon Corp now owns 94,904 shares of the industrial products company’s stock worth $718,000 after purchasing an additional 4,439 shares in the last quarter. IFP Advisors Inc acquired a new stake in shares of Twin Disc during the first quarter worth about $805,000. US Bancorp DE acquired a new stake in shares of Twin Disc during the first quarter worth about $307,000. Charles Schwab Investment Management Inc. lifted its position in shares of Twin Disc by 12.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 35,531 shares of the industrial products company’s stock worth $269,000 after purchasing an additional 3,796 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Twin Disc by 12.6% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 59,839 shares of the industrial products company’s stock worth $453,000 after purchasing an additional 6,714 shares in the last quarter. Institutional investors and hedge funds own 65.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on TWIN. Weiss Ratings reissued a “sell (d+)” rating on shares of Twin Disc in a research report on Wednesday, October 8th. Wall Street Zen cut shares of Twin Disc from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 18th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $12.00.

Twin Disc Stock Down 1.4%

Shares of NASDAQ:TWIN opened at $15.77 on Thursday. The firm’s 50 day moving average price is $14.26 and its 200 day moving average price is $10.40. The stock has a market cap of $226.93 million, a price-to-earnings ratio of -112.63 and a beta of 0.81. Twin Disc, Incorporated has a fifty-two week low of $6.16 and a fifty-two week high of $16.50. The company has a quick ratio of 0.75, a current ratio of 1.96 and a debt-to-equity ratio of 0.17.

Twin Disc (NASDAQ:TWIN) last announced its quarterly earnings results on Wednesday, November 5th. The industrial products company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.06). The company had revenue of $80.00 million during the quarter, compared to analysts’ expectations of $98.60 million. Twin Disc had a negative net margin of 0.56% and a negative return on equity of 1.22%.

Twin Disc Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 17th will be paid a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 1.0%. The ex-dividend date is Monday, November 17th. Twin Disc’s dividend payout ratio is currently -114.29%.

About Twin Disc

Twin Disc, Incorporated engages in the design, manufacture, and sale of marine and heavy duty off-highway power transmission equipment in the United States, the Netherlands, China, Australia, Italy, and internationally. The company operates in two segments, Manufacturing and Distribution. Its principal products include marine transmissions, azimuth drives, surface drives, propellers, and boat management systems, as well as power-shift transmissions, hydraulic torque converters, power take-offs, industrial clutches, and controls systems.