Taylor Devices (NASDAQ:TAYD) Releases Earnings Results, Beats Estimates By $0.01 EPS

Taylor Devices (NASDAQ:TAYD) issued its earnings results on Wednesday. The industrial products company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01, Zacks reports. Taylor Devices had a return on equity of 15.26% and a net margin of 20.04%.The business had revenue of $9.92 million during the quarter, compared to analysts’ expectations of $13.10 million.

Taylor Devices Price Performance

NASDAQ TAYD opened at $45.14 on Friday. The firm has a market cap of $142.19 million, a PE ratio of 15.84 and a beta of 0.97. Taylor Devices has a one year low of $29.50 and a one year high of $53.73. The stock’s 50 day simple moving average is $46.70 and its 200 day simple moving average is $40.33.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Tower Research Capital LLC TRC boosted its position in 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 buying an additional 727 shares during the last quarter. Brevan Howard Capital Management LP bought a new position in Taylor Devices in the 2nd quarter valued at $246,000. Bank of America Corp DE boosted 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 buying an additional 301 shares during the last quarter. Ameriprise Financial Inc. bought a new position in Taylor Devices in the 2nd quarter valued at $4,361,000. Finally, First Trust Advisors LP boosted its position in 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 valued at $440,000 after buying an additional 399 shares during the last quarter. 17.62% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised Taylor Devices from a “hold” rating to a “strong-buy” rating in a report on Saturday, August 16th.

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.