Connor Clark & Lunn Investment Management Ltd. Takes Position in Twin Disc, Incorporated $TWIN

Key Points

• Connor Clark & Lunn Investment Management acquired 92,104 Twin Disc shares worth approximately $2.14 million, giving it a 0.64% stake. Institutional investors and hedge funds collectively own 65.25% of the company.
• Twin Disc reported quarterly earnings of $0.64 per share, significantly exceeding the $0.23 consensus estimate, while revenue of $114.4 million also topped expectations.
• Analyst sentiment is moderately bullish, with a consensus “Moderate Buy” rating and a $30 price target versus the stock’s $23.12 opening price. The company also increased its quarterly dividend to $0.05 per share.

Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Twin Disc, Incorporated (NASDAQ:TWIN - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 92,104 shares of the industrial products company's stock, valued at approximately $2,137,000. Connor Clark & Lunn Investment Management Ltd. owned 0.64% of Twin Disc at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. BlackRock Inc. bought a new position in shares of Twin Disc during the second quarter worth $17,239,000. Deutsche Bank AG bought a new stake in shares of Twin Disc in the 2nd quarter valued at $261,000. Global Retirement Partners LLC acquired a new stake in Twin Disc during the 2nd quarter worth $54,000. Bank of New York Mellon Corp acquired a new stake in Twin Disc during the 2nd quarter worth $2,684,000. Finally, Bank of America Corp DE raised its stake in Twin Disc by 34.7% during the 1st 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 period. 65.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on TWIN shares. Lake Street Capital assumed coverage on Twin Disc in a research report on Thursday, July 9th. They issued a "buy" rating and a $30.00 price objective for the company. Weiss Ratings raised 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 cut shares of Twin Disc from a "strong-buy" rating to a "buy" rating in a report on Saturday, June 6th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $30.00.

Twin Disc Price Performance

Shares of NASDAQ TWIN opened at $23.12 on Friday. The business's 50 day moving average price is $23.19 and its two-hundred day moving average price is $19.38. The company has a market cap of $333.39 million, a PE ratio of 9.71 and a beta of 0.64. 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, Incorporated has a twelve month low of $12.00 and a twelve month high of $25.50.

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

Twin Disc Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th will be given a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, August 18th. This is a boost from Twin Disc's previous quarterly dividend of $0.04. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.9%. Twin Disc's dividend payout ratio (DPR) is presently 8.40%.

Twin Disc Profile

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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