BlackRock Inc. Invests $10.44 Million in Taylor Devices, Inc. $TAYD

Key Points

• BlackRock acquired 177,884 shares of Taylor Devices in the second quarter, valued at approximately $10.44 million, giving it a 5.52% stake. Institutional investors collectively own 17.62% of the company.
• Taylor Devices reported quarterly earnings of $0.50 per share and revenue of $8.95 million, falling short of analyst estimates of $0.78 EPS and $12.80 million in revenue.
• The stock recently traded at $62.18, up 2.7%, while analysts maintained a consensus “Buy” rating with a $70 price target.

BlackRock Inc. acquired a new position in shares of Taylor Devices, Inc. (NASDAQ:TAYD - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 177,884 shares of the industrial products company's stock, valued at approximately $10,438,000. BlackRock Inc. owned 5.52% of Taylor Devices as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in TAYD. Vanguard Group Inc. boosted its position in shares of Taylor Devices by 2.1% during the third quarter. Vanguard Group Inc. now owns 151,867 shares of the industrial products company's stock worth $7,451,000 after buying an additional 3,121 shares during the period. Ameriprise Financial Inc. purchased a new stake in shares of Taylor Devices in the 2nd quarter valued at $4,361,000. Dimensional Fund Advisors LP raised its holdings in shares of Taylor Devices by 0.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 69,543 shares of the industrial products company's stock valued at $4,067,000 after buying an additional 217 shares during the period. Punch & Associates Investment Management Inc. lifted its stake in Taylor Devices by 2.6% during the 3rd quarter. Punch & Associates Investment Management Inc. now owns 51,325 shares of the industrial products company's stock worth $2,518,000 after acquiring an additional 1,325 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its stake in Taylor Devices by 12.5% during the 1st quarter. Renaissance Technologies LLC now owns 49,662 shares of the industrial products company's stock worth $2,831,000 after acquiring an additional 5,500 shares in the last quarter. Institutional investors and hedge funds own 17.62% of the company's stock.

Taylor Devices Stock Up 2.7%

Shares of NASDAQ:TAYD opened at $62.18 on Friday. The company has a market cap of $200.53 million, a price-to-earnings ratio of 23.64 and a beta of 0.96. The firm's 50-day simple moving average is $56.14 and its 200-day simple moving average is $60.59. Taylor Devices, Inc. has a fifty-two week low of $40.50 and a fifty-two week high of $90.37.

Taylor Devices (NASDAQ:TAYD - Get Free Report) last announced its quarterly earnings data on Tuesday, August 18th. The industrial products company reported $0.50 earnings per share for the quarter, missing analysts' consensus estimates of $0.78 by ($0.28). The business had revenue of $8.95 million during the quarter, compared to analysts' expectations of $12.80 million. Taylor Devices had a net margin of 20.56% and a return on equity of 12.49%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Freedom Capital raised shares of Taylor Devices from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 20th. Wall Street Zen downgraded shares of Taylor Devices from a "buy" rating to a "hold" rating in a research note on Monday, August 3rd. Weiss Ratings lowered shares of Taylor Devices from a "hold (c+)" rating to a "hold (c)" rating in a report on Wednesday, August 19th. Finally, Freedom Broker raised shares of Taylor Devices from a "hold" rating to a "buy" rating and raised their price target for the company from $67.00 to $70.00 in a research report on Thursday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Taylor Devices currently has a consensus rating of "Buy" and a consensus price target of $70.00.

Taylor Devices Profile

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.

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