Taylor Devices, Inc. $TAYD Shares Sold by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. has reduced its stake in Taylor Devices, Inc. by 41.9%, now holding approximately 0.24% of the company.
• In contrast, GAMMA Investing LLC significantly increased its stake by 3,746.2% in the same period, now owning 1,000 shares valued at $31,000.
• Wall Street analysts upgraded Taylor Devices from a "hold" rating to a "strong-buy" rating, indicating positive expectations for the company's future performance.

Goldman Sachs Group Inc. trimmed its stake in shares of Taylor Devices, Inc. (NASDAQ:TAYD - Free Report) by 41.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,411 shares of the industrial products company's stock after selling 5,337 shares during the period. Goldman Sachs Group Inc. owned about 0.24% of Taylor Devices worth $239,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its stake in shares of Taylor Devices by 3,746.2% during the 1st quarter. GAMMA Investing LLC now owns 1,000 shares of the industrial products company's stock worth $31,000 after purchasing an additional 974 shares in the last quarter. Rhumbline Advisers increased its holdings in shares of Taylor Devices by 24.8% during the 1st quarter. Rhumbline Advisers now owns 2,357 shares of the industrial products company's stock worth $76,000 after buying an additional 468 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of Taylor Devices by 57.1% in the 4th quarter. Bank of America Corp DE now owns 2,800 shares of the industrial products company's stock worth $117,000 after purchasing an additional 1,018 shares during the period. Bank of New York Mellon Corp purchased a new stake in Taylor Devices during the first quarter worth approximately $212,000. Finally, De Lisle Partners LLP boosted its position in Taylor Devices by 60.6% during the 1st quarter. De Lisle Partners LLP now owns 42,276 shares of the industrial products company's stock worth $1,374,000 after purchasing an additional 15,950 shares during the period. 17.62% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of Taylor Devices from a "hold" rating to a "strong-buy" rating in a research note on Saturday, August 16th.

Taylor Devices Trading Up 2.0%

NASDAQ:TAYD opened at $49.66 on Monday. The firm has a market capitalization of $156.43 million, a PE ratio of 16.55 and a beta of 0.97. Taylor Devices, Inc. has a 52 week low of $29.50 and a 52 week high of $62.00. The stock has a 50 day moving average of $46.61 and a 200-day moving average of $40.01.

Taylor Devices (NASDAQ:TAYD - Get Free Report) last released its quarterly earnings results on Friday, August 15th. The industrial products company reported $1.17 EPS for the quarter, topping the consensus estimate of $0.67 by $0.50. The business had revenue of $15.56 million during the quarter, compared to analyst estimates of $13.73 million. Taylor Devices had a net margin of 20.33% and a return on equity of 16.40%.

About Taylor Devices

Taylor Devices, Inc engages in design, development, manufacture, and marketing of shock absorption, rate control, and energy storage devices for use in machinery, equipment, and structures in the United States, Asia, and internationally. Its products include seismic dampers that are designed to mitigate the effects of earthquakes on structures; Fluidicshoks, which are compact shock absorbers primarily used in defense, aerospace, and commercial industries; and crane and industrial buffers, which are larger versions of the Fluidicshoks for industrial application on cranes and crane trolleys, truck docks, ladle and ingot cars, ore trolleys, and train car stops.

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