Taylor Devices (NASDAQ:TAYD) Stock Price Passes Above Two Hundred Day Moving Average - Here's Why

Taylor Devices, Inc. (NASDAQ:TAYD - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $35.62 and traded as high as $36.82. Taylor Devices shares last traded at $36.53, with a volume of 6,280 shares changing hands.

Analysts Set New Price Targets

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

Taylor Devices Stock Performance

The stock has a 50 day moving average of $34.45 and a two-hundred day moving average of $35.62. The stock has a market cap of $110.14 million, a PE ratio of 13.10 and a beta of 0.84.

Taylor Devices (NASDAQ:TAYD - Get Free Report) last released its earnings results on Friday, March 28th. The industrial products company reported $0.64 earnings per share for the quarter. The business had revenue of $10.57 million for the quarter. Taylor Devices had a net margin of 19.99% and a return on equity of 17.04%.

Insiders Place Their Bets

In other Taylor Devices news, CEO Timothy John Sopko acquired 1,000 shares of Taylor Devices stock in a transaction that occurred on Wednesday, April 23rd. The stock was purchased at an average cost of $30.03 per share, with a total value of $30,030.00. Following the purchase, the chief executive officer now owns 10,000 shares in the company, valued at approximately $300,300. The trade was a 11.11% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 7.75% of the company's stock.

Hedge Funds Weigh In On Taylor Devices

Several institutional investors and hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC boosted its holdings in shares of Taylor Devices by 3,746.2% during the first 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 during the period. Rhumbline Advisers lifted its position in Taylor Devices by 24.8% in 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 in the last quarter. Bank of America Corp DE boosted its stake in shares of Taylor Devices by 57.1% during the 4th quarter. Bank of America Corp DE now owns 2,800 shares of the industrial products company's stock valued at $117,000 after buying an additional 1,018 shares during the period. Barclays PLC grew its holdings in shares of Taylor Devices by 33.9% during the 4th quarter. Barclays PLC now owns 4,588 shares of the industrial products company's stock valued at $191,000 after acquiring an additional 1,162 shares in the last quarter. Finally, Wells Fargo & Company MN grew its holdings in shares of Taylor Devices by 80.6% during the 4th 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. Hedge funds and other institutional investors own 17.62% of the company's stock.

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.