Taylor Devices (NASDAQ:TAYD) Stock Passes Above 200-Day Moving Average - Here's What Happened

Taylor Devices, Inc. (NASDAQ:TAYD - Get Free Report)'s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $35.04 and traded as high as $45.76. Taylor Devices shares last traded at $44.42, with a volume of 7,114 shares changing hands.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised shares of Taylor Devices from a "hold" rating to a "buy" rating in a research report on Monday, March 31st.

Taylor Devices Stock Performance

The company has a fifty day simple moving average of $37.76 and a two-hundred day simple moving average of $34.95. The firm has a market capitalization of $136.51 million, a PE ratio of 17.39 and a beta of 0.87.

Insider Buying and Selling

In other news, CEO Timothy John Sopko purchased 1,000 shares of the stock in a transaction dated Wednesday, April 23rd. The shares were acquired at an average cost of $30.03 per share, for a total transaction of $30,030.00. Following the acquisition, the chief executive officer owned 10,000 shares of the company's stock, valued at approximately $300,300. This represents a 11.11% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 7.75% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Charles Schwab Investment Management Inc. grew its holdings in Taylor Devices by 18.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 8,964 shares of the industrial products company's stock worth $373,000 after purchasing an additional 1,366 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Taylor Devices by 577.9% in the fourth quarter. JPMorgan Chase & Co. now owns 7,010 shares of the industrial products company's stock valued at $292,000 after buying an additional 5,976 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Taylor Devices by 23.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 24,505 shares of the industrial products company's stock worth $1,020,000 after acquiring an additional 4,700 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Taylor Devices by 9.1% during the fourth quarter. Geode Capital Management LLC now owns 67,425 shares of the industrial products company's stock worth $2,807,000 after acquiring an additional 5,611 shares during the last quarter. Finally, Wells Fargo & Company MN increased its holdings in shares of Taylor Devices by 80.6% during the fourth quarter. Wells Fargo & Company MN now owns 4,754 shares of the industrial products company's stock valued at $198,000 after acquiring an additional 2,121 shares in the last quarter. Institutional investors own 17.62% of the company's stock.

Taylor Devices Company Profile

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.