Taylor Devices (NASDAQ:TAYD) Downgraded by StockNews.com to “Hold”

Taylor Devices (NASDAQ:TAYD) was downgraded by research analysts at StockNews.com from a “strong-buy” rating to a “hold” rating in a note issued to investors on Monday.

Taylor Devices Stock Performance

Shares of Taylor Devices stock traded down $0.49 during midday trading on Monday, reaching $34.77. 55,830 shares of the company’s stock traded hands, compared to its average volume of 65,243. The stock has a 50 day moving average of $44.77 and a 200-day moving average of $48.04. Taylor Devices has a 12 month low of $22.22 and a 12 month high of $64.50. The company has a market cap of $108.45 million, a PE ratio of 11.99 and a beta of 1.06.

Taylor Devices (NASDAQ:TAYD) last issued its quarterly earnings data on Friday, January 3rd. The industrial products company reported $0.34 EPS for the quarter. Taylor Devices had a net margin of 21.22% and a return on equity of 18.95%. During the same period last year, the firm posted $0.56 earnings per share.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. American Century Companies Inc. bought a new stake in shares of Taylor Devices during the second quarter valued at approximately $1,206,000. B. Riley Wealth Advisors Inc. purchased a new position in Taylor Devices during the second quarter valued at $546,000. State Street Corp boosted its holdings in shares of Taylor Devices by 17.0% during the 3rd quarter. State Street Corp now owns 35,532 shares of the industrial products company’s stock valued at $1,774,000 after buying an additional 5,171 shares in the last quarter. FMR LLC boosted its holdings in shares of Taylor Devices by 1,138.6% during the 3rd quarter. FMR LLC now owns 1,796 shares of the industrial products company’s stock valued at $90,000 after buying an additional 1,651 shares in the last quarter. Finally, LSV Asset Management grew its position in shares of Taylor Devices by 239.5% in the 2nd quarter. LSV Asset Management now owns 8,149 shares of the industrial products company’s stock worth $367,000 after buying an additional 5,749 shares during the period. Institutional investors own 17.62% of the company’s stock.

Taylor Devices Company Profile

Taylor Devices, Inc engages in design, development, manufacture, and marketing of shock absorption, rate control, and energy storage devices for use in machinery, equipment, and structures in the United States, Asia, and internationally. Its products include seismic dampers that are designed to mitigate the effects of earthquakes on structures; Fluidicshoks, which are compact shock absorbers primarily used in defense, aerospace, and commercial industries; and crane and industrial buffers, which are larger versions of the Fluidicshoks for industrial application on cranes and crane trolleys, truck docks, ladle and ingot cars, ore trolleys, and train car stops.