Taylor Devices (NASDAQ:TAYD) Lowered to "Hold" Rating by Wall Street Zen

Key Points

• Taylor Devices was downgraded by Wall Street Zen from buy to hold, while Weiss Ratings also lowered its view, leaving the stock with a consensus Hold rating.
• The shares opened at $54.67, giving the company a market cap of about $176 million; the stock is trading well below its 52-week high of $90.37 but above its low of $40.50.
• Insider and institutional activity was mixed: a director sold 5,000 shares, while major holders such as Vanguard, Ameriprise, and Renaissance Technologies reported positions or increased holdings in the stock.

Taylor Devices (NASDAQ:TAYD - Get Free Report) was downgraded by Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued on Saturday.

Separately, Weiss Ratings lowered Taylor Devices from a "hold (c+)" rating to a "hold (c)" rating in a research note on Tuesday, June 23rd. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has a consensus rating of "Hold".

Taylor Devices Price Performance

Shares of TAYD opened at $54.67 on Friday. The company has a market capitalization of $176.04 million, a PE ratio of 16.57 and a beta of 0.92. Taylor Devices has a one year low of $40.50 and a one year high of $90.37. The company's fifty day moving average price is $54.41 and its 200 day moving average price is $64.53.

Insider Activity

In other news, Director Robert Michael Carey sold 5,000 shares of the firm's stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $56.73, for a total value of $283,650.00. Following the sale, the director owned 7,721 shares in the company, valued at approximately $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 accessible through this hyperlink. Insiders own 8.88% of the company's stock.

Hedge Funds Weigh In On Taylor Devices

Several large investors have recently bought and sold shares of TAYD. Vanguard Group Inc. grew its holdings in shares of Taylor Devices by 2.1% during the 3rd quarter. Vanguard Group Inc. now owns 151,867 shares of the industrial products company's stock worth $7,451,000 after purchasing an additional 3,121 shares in the last quarter. Ameriprise Financial Inc. bought a new stake in shares of Taylor Devices during the second quarter valued at approximately $4,361,000. Dimensional Fund Advisors LP increased its position in shares of Taylor Devices by 0.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 69,543 shares of the industrial products company's stock valued at $4,067,000 after purchasing an additional 217 shares during the period. Punch & Associates Investment Management Inc. raised 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 in the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of Taylor Devices by 12.5% in the first quarter. Renaissance Technologies LLC now owns 49,662 shares of the industrial products company's stock valued at $2,831,000 after purchasing an additional 5,500 shares in the last quarter. 17.62% of the stock is currently owned by institutional investors and hedge funds.

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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