BlackRock Inc. Acquires Shares of 743,060 Twin Disc, Incorporated $TWIN

Key Points

• BlackRock acquired 743,060 Twin Disc shares worth approximately $17.2 million, giving it a 5.15% stake. Institutional investors collectively own 65.25% of the company.
• Twin Disc reported quarterly earnings of $0.64 per share, beating the $0.23 consensus estimate, while revenue of $114.4 million exceeded expectations of $100.35 million.
• Analysts maintain a “Moderate Buy” consensus with a $30 price target, compared with the stock’s recent $22.81 price. Twin Disc also raised its quarterly dividend to $0.05 per share.

BlackRock Inc. acquired a new position in shares of Twin Disc, Incorporated (NASDAQ:TWIN - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 743,060 shares of the industrial products company's stock, valued at approximately $17,239,000. BlackRock Inc. owned about 5.15% of Twin Disc as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in TWIN. Deutsche Bank AG acquired a new stake in shares of Twin Disc in the second quarter valued at approximately $261,000. Global Retirement Partners LLC purchased a new stake in Twin Disc in the 2nd quarter valued at $54,000. Bank of New York Mellon Corp acquired a new position in Twin Disc in the second quarter valued at $2,684,000. Bank of America Corp DE grew its holdings in shares of Twin Disc by 34.7% during the first quarter. Bank of America Corp DE now owns 18,437 shares of the industrial products company's stock worth $278,000 after buying an additional 4,753 shares during the last quarter. Finally, Empowered Funds LLC increased its position in Twin Disc by 8.5% in the 1st quarter. Empowered Funds LLC now owns 26,786 shares of the industrial products company's stock valued at $404,000 after acquiring an additional 2,099 shares during the period. Institutional investors and hedge funds own 65.25% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on TWIN. Lake Street Capital assumed coverage on Twin Disc in a research note on Thursday, July 9th. They set a "buy" rating and a $30.00 price objective for the company. Weiss Ratings upgraded shares of Twin Disc from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, June 12th. Finally, Wall Street Zen downgraded shares of Twin Disc from a "strong-buy" rating to a "buy" rating in a research report on Saturday, June 6th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $30.00.

Twin Disc Price Performance

Shares of NASDAQ:TWIN opened at $22.81 on Friday. The business's fifty day moving average price is $23.21 and its two-hundred day moving average price is $19.52. The stock has a market cap of $328.99 million, a PE ratio of 9.58 and a beta of 0.67. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.81 and a current ratio of 2.09. Twin Disc, Incorporated has a one year low of $12.77 and a one year high of $25.50.

Twin Disc (NASDAQ:TWIN - Get Free Report) last released its quarterly earnings results on Thursday, August 20th. The industrial products company reported $0.64 earnings per share for the quarter, topping analysts' consensus estimates of $0.23 by $0.41. The company had revenue of $114.40 million during the quarter, compared to analysts' expectations of $100.35 million. Twin Disc had a return on equity of 7.19% and a net margin of 9.06%.

Twin Disc Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Tuesday, August 18th. This is a positive change from Twin Disc's previous quarterly dividend of $0.04. Twin Disc's dividend payout ratio is presently 8.40%.

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.

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