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

Key Points

• Taylor Devices' stock (NASDAQ:TAYD) recently crossed above its 200-day moving average of $36.13, reaching a high of $45.96 during trading.
• The company has a current market capitalization of $139.04 million and an appealing P/E ratio of 17.71.
• Institutional investors are actively involved, with a total of 17.62% of the stock owned by these entities, indicating growing interest in the company.

Taylor Devices, Inc. (NASDAQ:TAYD - Get Free Report)'s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $36.13 and traded as high as $45.96. Taylor Devices shares last traded at $44.28, with a volume of 8,280 shares.

Taylor Devices Price Performance

The business's 50 day moving average is $42.29 and its 200-day moving average is $36.32. The company has a market cap of $139.98 million, a PE ratio of 17.83 and a beta of 0.89.

Institutional Trading of Taylor Devices

Several institutional investors have recently modified their holdings of TAYD. JPMorgan Chase & Co. lifted its position in shares of Taylor Devices by 577.9% during the 4th quarter. JPMorgan Chase & Co. now owns 7,010 shares of the industrial products company's stock worth $292,000 after buying an additional 5,976 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of Taylor Devices by 23.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 24,505 shares of the industrial products company's stock worth $1,020,000 after purchasing an additional 4,700 shares during the last quarter. Geode Capital Management LLC grew its holdings 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 purchasing an additional 5,611 shares during the last quarter. Wells Fargo & Company MN grew 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 worth $198,000 after purchasing an additional 2,121 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of Taylor Devices by 5.2% during the fourth quarter. Renaissance Technologies LLC now owns 48,462 shares of the industrial products company's stock worth $2,017,000 after purchasing an additional 2,400 shares during the last quarter. Hedge funds and other 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.