Meros Investment Management LP purchased a new position in Twin Disc, Incorporated (NASDAQ:TWIN - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 80,377 shares of the industrial products company's stock, valued at approximately $1,864,746. Meros Investment Management LP owned about 0.56% of Twin Disc at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. purchased a new stake in shares of Twin Disc during the second quarter worth approximately $17,239,000. Ameriprise Financial Inc. boosted its position in Twin Disc by 1,928.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 439,241 shares of the industrial products company's stock worth $3,878,000 after acquiring an additional 417,590 shares during the period. Bank of New York Mellon Corp purchased a new stake in shares of Twin Disc in the 2nd quarter valued at approximately $2,684,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Twin Disc in the 2nd quarter worth approximately $2,137,000. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of Twin Disc by 132.4% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 149,035 shares of the industrial products company's stock worth $2,078,000 after buying an additional 84,908 shares during the period. 65.25% of the stock is owned by institutional investors.
Twin Disc Price Performance
Twin Disc stock traded down $0.25 during mid-day trading on Friday, hitting $23.11. 90,762 shares of the company traded hands, compared to its average volume of 82,744. 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 $12.00 and a one year high of $25.50. The stock has a fifty day moving average price of $23.16 and a 200-day moving average price of $19.35. The stock has a market cap of $333.25 million, a price-to-earnings ratio of 9.71 and a beta of 0.64.
Twin Disc (NASDAQ:TWIN - Get Free Report) last issued its quarterly earnings data on Thursday, August 20th. The industrial products company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.41. The company had revenue of $114.40 million for 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 business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th will be paid a dividend of $0.05 per share. This is an increase 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%. The ex-dividend date is Tuesday, August 18th. Twin Disc's dividend payout ratio (DPR) is presently 8.40%.
Wall Street Analysts Forecast Growth
TWIN has been the subject of several research analyst reports. Weiss Ratings upgraded shares of Twin Disc from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, June 12th. Wall Street Zen lowered shares of Twin Disc from a "strong-buy" rating to a "buy" rating in a report on Saturday, June 6th. Finally, Lake Street Capital initiated coverage on Twin Disc in a research report on Thursday, July 9th. They issued a "buy" rating and a $30.00 price target for the company. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Twin Disc currently has an average rating of "Moderate Buy" and a consensus price target of $30.00.
View Our Latest Stock Analysis on Twin Disc
Twin Disc Company Profile
(
Free Report)
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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