Jeffrey Scott Knutson Sells 4,302 Shares of Twin Disc (NASDAQ:TWIN) Stock

Key Points

• Twin Disc CFO Jeffrey Scott Knutson sold 4,302 shares at an average price of $23.00, generating $98,946. After the sale, he retained 178,275 shares.
• Twin Disc shares rose 4.6% to $23.85, while the company reported quarterly earnings of $0.64 per share and revenue of $114.4 million, exceeding analyst expectations.
• The company increased its quarterly dividend from $0.04 to $0.05 per share. Analysts maintain a “Moderate Buy” consensus with a $30.00 average price target, and institutional investors own 65.25% of the stock.

Twin Disc, Incorporated (NASDAQ:TWIN - Get Free Report) CFO Jeffrey Scott Knutson sold 4,302 shares of the business's stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $23.00, for a total transaction of $98,946.00. Following the completion of the transaction, the chief financial officer directly owned 178,275 shares of the company's stock, valued at $4,100,325. This trade represents a 2.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Twin Disc Stock Up 4.6%

Shares of NASDAQ:TWIN traded up $1.04 on Friday, reaching $23.85. The company had a trading volume of 105,985 shares, compared to its average volume of 82,944. The firm has a market capitalization of $343.99 million, a PE ratio of 10.02 and a beta of 0.67. The company has a current ratio of 2.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.23. Twin Disc, Incorporated has a 52-week low of $12.79 and a 52-week high of $25.50. The firm's 50 day simple moving average is $23.21 and its 200-day simple moving average is $19.52.

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 analysts' consensus estimates of $0.23 by $0.41. Twin Disc had a return on equity of 7.19% and a net margin of 9.06%.The firm had revenue of $114.40 million during the quarter, compared to analysts' expectations of $100.35 million.

Twin Disc Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th were issued a $0.05 dividend. The ex-dividend date was Tuesday, August 18th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.8%. This is an increase from Twin Disc's previous quarterly dividend of $0.04. Twin Disc's dividend payout ratio (DPR) is 8.40%.

Analyst Ratings Changes

A number of equities research analysts recently commented on TWIN shares. Wall Street Zen cut shares of Twin Disc from a "strong-buy" rating to a "buy" rating in a research report on Saturday, June 6th. Weiss Ratings raised Twin Disc from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, June 12th. Finally, Lake Street Capital initiated coverage on Twin Disc in a report on Thursday, July 9th. They set a "buy" rating and a $30.00 price objective for the company. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $30.00.

Hedge Funds Weigh In On Twin Disc

Hedge funds have recently modified their holdings of the stock. California State Teachers Retirement System purchased a new position in shares of Twin Disc in the 2nd quarter valued at approximately $86,000. Empowered Funds LLC purchased a new stake in Twin Disc during the 2nd quarter worth approximately $666,000. Bank of America Corp DE acquired a new position in Twin Disc during the 2nd quarter valued at approximately $259,000. Meros Investment Management LP acquired a new position in Twin Disc during the 2nd quarter valued at approximately $1,864,746. Finally, Legal & General Group Plc purchased a new position in shares of Twin Disc in the second quarter worth $26,000. Institutional investors and hedge funds own 65.25% of the company's stock.

About Twin Disc

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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