Jeffrey Scott Knutson Sells 4,302 Shares of Twin Disc (NASDAQ:TWIN) Stock

Twin Disc, Incorporated (NASDAQ:TWIN) CFO Jeffrey Scott Knutson sold 4,302 shares of the business’s stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $23.00, for a total transaction of $98,946.00. Following the completion of the sale, the chief financial officer owned 178,275 shares in the company, valued at $4,100,325. This represents a 2.36% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Twin Disc Trading Up 4.6%

Shares of Twin Disc stock opened at $23.85 on Friday. Twin Disc, Incorporated has a 12-month low of $12.79 and a 12-month high of $25.50. The stock has a market capitalization of $343.92 million, a P/E ratio of 10.02 and a beta of 0.67. The company has a 50-day simple moving average of $23.20 and a 200 day simple moving average of $19.55. The company has a quick ratio of 0.81, a current ratio of 2.09 and a debt-to-equity ratio of 0.23.

Twin Disc (NASDAQ:TWIN) last released its quarterly earnings results on Thursday, August 20th. The industrial products company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.41. The firm had revenue of $114.40 million for the quarter, compared to analyst estimates of $100.35 million. Twin Disc had a net margin of 9.06% and a return on equity of 7.19%.

Twin Disc Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Tuesday, August 18th. This is an increase from Twin Disc’s previous quarterly dividend of $0.04. Twin Disc’s dividend payout ratio (DPR) is presently 8.40%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of TWIN. Legal & General Group Plc acquired a new position in Twin Disc during the 2nd quarter worth $26,000. Global Retirement Partners LLC bought a new stake in shares of Twin Disc during the fourth quarter worth $39,000. Strs Ohio bought a new stake in shares of Twin Disc during the first quarter worth $74,000. JPMorgan Chase & Co. raised its position in shares of Twin Disc by 28.6% during the third quarter. JPMorgan Chase & Co. now owns 5,361 shares of the industrial products company’s stock worth $75,000 after acquiring an additional 1,193 shares during the last quarter. Finally, California State Teachers Retirement System acquired a new position in shares of Twin Disc during the second quarter valued at $86,000. Institutional investors own 65.25% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on TWIN. Wall Street Zen downgraded Twin Disc from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 6th. Weiss Ratings upgraded Twin Disc from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, June 12th. Finally, Lake Street Capital began coverage on Twin Disc in a report on Thursday, July 9th. They issued a “buy” rating and a $30.00 price target for the company. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $30.00.

About Twin Disc

Twin Disc, Inc (NASDAQ: TWIN) is a global designer and manufacturer of power transmission equipment for marine and industrial applications. Headquartered in Racine, Wisconsin, the company develops a range of mechanical and digital solutions that control power delivery in demanding environments. Its portfolio includes marine gears, power take-offs, clutches, brakes, transmissions and controllable pitch propeller systems engineered to withstand heavy loads and corrosive conditions.

In addition to original equipment manufacturing, Twin Disc offers aftermarket parts and services, including maintenance, repair and overhaul support through a network of service centers worldwide.