Taylor Devices, Inc. $TAYD Position Reduced by Punch & Associates Investment Management Inc.

Key Points

• Punch & Associates Investment Management cut its Taylor Devices stake by 37.1% in the first quarter, selling 19,025 shares and ending with 32,300 shares valued at about $1.84 million.
• Other institutional investors were mixed on the stock, with several increasing holdings while institutional ownership overall stands at 17.62% of Taylor Devices shares.
• Wall Street sentiment remains cautious: the stock has a consensus rating of “Hold”, despite one recent upgrade from Wall Street Zen and a downgrade from Weiss Ratings.

Punch & Associates Investment Management Inc. reduced its stake in shares of Taylor Devices, Inc. (NASDAQ:TAYD - Free Report) by 37.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,300 shares of the industrial products company's stock after selling 19,025 shares during the period. Punch & Associates Investment Management Inc. owned about 1.00% of Taylor Devices worth $1,841,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of TAYD. Royal Bank of Canada raised its stake in shares of Taylor Devices by 68.2% in the 4th quarter. Royal Bank of Canada now owns 740 shares of the industrial products company's stock valued at $43,000 after purchasing an additional 300 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in Taylor Devices by 253.3% in the second quarter. Tower Research Capital LLC TRC now owns 1,014 shares of the industrial products company's stock worth $44,000 after purchasing an additional 727 shares in the last quarter. Rhumbline Advisers increased its holdings in Taylor Devices by 24.8% in the first quarter. Rhumbline Advisers now owns 2,357 shares of the industrial products company's stock valued at $76,000 after buying an additional 468 shares during the last quarter. Bank of America Corp DE increased its holdings in Taylor Devices by 16.3% in the second 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. Finally, Two Sigma Investments LP acquired a new stake in Taylor Devices during the third quarter valued at approximately $205,000. Institutional investors own 17.62% of the company's stock.

Wall Street Analysts Forecast Growth

TAYD has been the topic of a number of research analyst reports. Weiss Ratings downgraded Taylor Devices from a "hold (c+)" rating to a "hold (c)" rating in a report on Tuesday, June 23rd. Wall Street Zen upgraded Taylor Devices from a "hold" rating to a "buy" rating in a report on Sunday. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has a consensus rating of "Hold".

Insider Transactions at Taylor Devices

In other Taylor Devices news, Director Robert Michael Carey sold 5,000 shares of the firm's stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $56.73, for a total value of $283,650.00. Following the transaction, the director owned 7,721 shares of the company's stock, valued at $438,012.33. This trade represents a 39.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 8.88% of the stock is owned by corporate insiders.

Taylor Devices Stock Performance

Taylor Devices stock opened at $54.22 on Friday. Taylor Devices, Inc. has a 1 year low of $40.50 and a 1 year high of $90.37. The firm's 50-day moving average is $54.81 and its 200-day moving average is $64.31. The company has a market cap of $174.59 million, a P/E ratio of 16.43 and a beta of 0.92.

Taylor Devices Company 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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