Taylor Devices (NASDAQ:TAYD) Stock Passes Above 200 Day Moving Average - Time to Sell?

Key Points

• Taylor Devices shares have surpassed their 200-day moving average, reaching a price of $42.62, indicating potential upward momentum in trading.
• Institutional investors have shown increased interest in the company, with Rhumbline Advisers raising its holdings by 24.8% and GAMMA Investing LLC increasing its position by an extraordinary 3,746.2%.
• The company has a market cap of $133.83 million and a P/E ratio of 17.05, suggesting it may be viewed as a growth opportunity in the industrial products sector.

Taylor Devices, Inc. (NASDAQ:TAYD - Get Free Report) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $36.59 and traded as high as $43.36. Taylor Devices shares last traded at $42.62, with a volume of 11,164 shares traded.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of Taylor Devices from a "hold" rating to a "strong-buy" rating in a research report on Saturday.

Taylor Devices Trading Up 8.6%

The firm's 50 day moving average is $43.08 and its two-hundred day moving average is $36.76. The stock has a market cap of $145.16 million, a price-to-earnings ratio of 15.41 and a beta of 0.89.

Taylor Devices (NASDAQ:TAYD - Get Free Report) last issued its earnings results on Friday, August 15th. The industrial products company reported $1.17 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.67 by $0.50. Taylor Devices had a return on equity of 16.86% and a net margin of 20.33%. The business had revenue of $15.56 million during the quarter, compared to analysts' expectations of $13.73 million.

Hedge Funds Weigh In On Taylor Devices

Several institutional investors and hedge funds have recently made changes to their positions in TAYD. Ameriprise Financial Inc. acquired a new stake in shares of Taylor Devices during the 2nd quarter valued at approximately $4,361,000. Geode Capital Management LLC grew its stake in shares of Taylor Devices by 9.1% in the fourth quarter. Geode Capital Management LLC now owns 67,425 shares of the industrial products company's stock worth $2,807,000 after purchasing an additional 5,611 shares in the last quarter. Courier Capital LLC grew its stake in shares of Taylor Devices by 10.4% in the second quarter. Courier Capital LLC now owns 53,221 shares of the industrial products company's stock worth $2,310,000 after purchasing an additional 5,000 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Taylor Devices by 5.2% during the fourth quarter. Renaissance Technologies LLC now owns 48,462 shares of the industrial products company's stock valued at $2,017,000 after buying an additional 2,400 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Taylor Devices by 28.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 45,772 shares of the industrial products company's stock valued at $1,905,000 after buying an additional 10,224 shares in the last quarter. 17.62% of the stock is currently owned by hedge funds and other institutional investors.

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.