Martin & Co. Inc. TN Invests $3.42 Million in Taylor Devices, Inc. $TAYD

Martin & Co. Inc. TN acquired a new position in shares of Taylor Devices, Inc. (NASDAQ:TAYD) during the second quarter, HoldingsChannel reports. The firm acquired 58,200 shares of the industrial products company’s stock, valued at approximately $3,415,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Royal Bank of Canada boosted its stake in Taylor Devices by 68.2% in the 4th quarter. Royal Bank of Canada now owns 740 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 300 shares during the period. Tower Research Capital LLC TRC raised its stake in shares of Taylor Devices by 253.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,014 shares of the industrial products company’s stock valued at $44,000 after purchasing an additional 727 shares during the period. Rhumbline Advisers raised its stake in shares of Taylor Devices by 24.8% in the 1st quarter. Rhumbline Advisers now owns 2,357 shares of the industrial products company’s stock valued at $76,000 after purchasing an additional 468 shares during the period. Bank of America Corp DE lifted its holdings in shares of Taylor Devices by 16.3% in the second 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 in the last quarter. Finally, Deutsche Bank AG bought a new stake in shares of Taylor Devices in the second quarter valued at about $189,000. 17.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on TAYD shares. Freedom Capital raised Taylor Devices from a “hold” rating to a “strong-buy” rating in a research report on Thursday. Wall Street Zen lowered Taylor Devices from a “buy” rating to a “hold” rating in a research report on Monday, August 3rd. Finally, Weiss Ratings cut Taylor Devices from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy”.

Taylor Devices Trading Up 4.9%

Taylor Devices stock opened at $58.52 on Friday. Taylor Devices, Inc. has a 1-year low of $40.50 and a 1-year high of $90.37. The company has a fifty day simple moving average of $55.49 and a 200 day simple moving average of $61.96. The company has a market cap of $188.43 million, a P/E ratio of 22.25 and a beta of 0.94.

Taylor Devices (NASDAQ:TAYD) last issued its quarterly earnings results on Tuesday, August 18th. The industrial products company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.28). Taylor Devices had a return on equity of 12.49% and a net margin of 20.56%.The business had revenue of $8.95 million for the quarter, compared to the consensus estimate 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.