Taylor Devices (NASDAQ:TAYD) Director Robert Michael Carey Sells 5,000 Shares

Key Points

• Director Robert Michael Carey sold 5,000 shares on April 28 at an average price of $56.73 for $283,650, reducing his stake by 39.31% to 7,721 shares (valued at $438,012).
• Several research firms recently downgraded Taylor Devices to a "Hold" rating, and MarketBeat shows a consensus rating of "Hold".
• The company reported Q1 EPS of $0.79 (beating the $0.77 estimate) but revenue missed at $11.17M versus $13.18M; Taylor Devices has a market cap of $179.11M, a P/E of 16.86, and a 52‑week range of $31.63–$90.37.

Taylor Devices, Inc. (NASDAQ:TAYD - Get Free Report) Director Robert Michael Carey sold 5,000 shares of the firm's stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $56.73, for a total transaction of $283,650.00. Following the completion of the sale, the director owned 7,721 shares of the company's stock, valued at $438,012.33. The trade was a 39.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Taylor Devices Stock Performance

Shares of NASDAQ TAYD traded up $0.72 during trading on Thursday, hitting $55.64. 7,414 shares of the company traded hands, compared to its average volume of 49,341. The business's fifty day moving average is $69.34 and its 200 day moving average is $62.39. The firm has a market capitalization of $179.11 million, a price-to-earnings ratio of 16.86 and a beta of 1.12. Taylor Devices, Inc. has a fifty-two week low of $31.63 and a fifty-two week high of $90.37.

Taylor Devices (NASDAQ:TAYD - Get Free Report) last issued its earnings results on Tuesday, March 31st. The industrial products company reported $0.79 EPS for the quarter, beating analysts' consensus estimates of $0.77 by $0.02. The business had revenue of $11.17 million during the quarter, compared to analyst estimates of $13.18 million. Taylor Devices had a return on equity of 15.77% and a net margin of 21.52%.

Analysts Set New Price Targets

Several research firms have recently commented on TAYD. Weiss Ratings downgraded shares of Taylor Devices from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Monday, April 6th. Freedom Capital downgraded Taylor Devices from a "strong-buy" rating to a "hold" rating in a report on Monday, January 12th. Finally, Wall Street Zen lowered shares of Taylor Devices from a "strong-buy" rating to a "hold" rating in a research note on Saturday, April 4th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, Taylor Devices presently has a consensus rating of "Hold".

Hedge Funds Weigh In On Taylor Devices

Several institutional investors and hedge funds have recently bought and sold shares of TAYD. Rhumbline Advisers increased its position in Taylor Devices by 24.8% in the first 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. Arrowstreet Capital Limited Partnership grew its stake in shares of Taylor Devices by 29.8% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 21,300 shares of the industrial products company's stock worth $924,000 after acquiring an additional 4,888 shares during the period. First Trust Advisors LP increased its holdings in Taylor Devices by 4.1% in the 2nd quarter. First Trust Advisors LP now owns 10,127 shares of the industrial products company's stock worth $440,000 after acquiring an additional 399 shares during the last quarter. Ameriprise Financial Inc. purchased a new stake in Taylor Devices in the 2nd quarter worth about $4,361,000. Finally, Bank of America Corp DE raised its stake in Taylor Devices by 16.3% in the 2nd quarter. Bank of America Corp DE now owns 2,153 shares of the industrial products company's stock valued at $93,000 after acquiring an additional 301 shares during the period. 17.62% of the stock is owned by institutional investors.

About Taylor Devices

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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