Taylor Devices, Inc. $TAYD Shares Purchased by Arrowstreet Capital Limited Partnership

Key Points

• Arrowstreet Capital increased its Taylor Devices stake by 84.3% in the first quarter, purchasing 21,590 additional shares. The fund now owns 47,198 shares, or about 1.47% of the company, valued at $2.69 million.
• Other institutional investors also adjusted their positions, and hedge funds and institutions collectively own 17.62% of Taylor Devices.
• TAYD shares opened at $53.70, with a market capitalization of $172.91 million and a 12-month range of $40.50 to $90.37. Analyst sentiment remains cautious, with a consensus rating of Hold after recent rating downgrades.

Arrowstreet Capital Limited Partnership raised its stake in Taylor Devices, Inc. (NASDAQ:TAYD - Free Report) by 84.3% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 47,198 shares of the industrial products company's stock after buying an additional 21,590 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 1.47% of Taylor Devices worth $2,690,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Susquehanna International Group LLP acquired a new position in Taylor Devices during the 3rd quarter valued at about $742,000. Geode Capital Management LLC increased its stake in shares of Taylor Devices by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 35,509 shares of the industrial products company's stock valued at $2,077,000 after purchasing an additional 259 shares during the period. Punch & Associates Investment Management Inc. increased its stake in shares of Taylor Devices by 2.6% in the third quarter. Punch & Associates Investment Management Inc. now owns 51,325 shares of the industrial products company's stock valued at $2,518,000 after purchasing an additional 1,325 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Taylor Devices by 1.7% during the third quarter. Dimensional Fund Advisors LP now owns 69,326 shares of the industrial products company's stock valued at $3,401,000 after buying an additional 1,153 shares during the last quarter. Finally, Ameriprise Financial Inc. bought a new stake in shares of Taylor Devices during the second quarter valued at approximately $4,361,000. Institutional investors and hedge funds own 17.62% of the company's stock.

Taylor Devices Price Performance

Shares of NASDAQ:TAYD opened at $53.70 on Wednesday. The stock has a market cap of $172.91 million, a price-to-earnings ratio of 16.27 and a beta of 0.94. Taylor Devices, Inc. has a 12 month low of $40.50 and a 12 month high of $90.37. The stock's 50 day moving average price is $55.19 and its 200 day moving average price is $63.53.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Wall Street Zen cut Taylor Devices from a "buy" rating to a "hold" rating in a research report on Monday. Weiss Ratings lowered Taylor Devices from a "hold (c+)" rating to a "hold (c)" rating in a research report on Tuesday, June 23rd. Two research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Taylor Devices presently has a consensus rating of "Hold".

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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