Twin Disc, Incorporated (NASDAQ:TWIN) Sees Significant Decrease in Short Interest

Key Points

• Twin Disc, Incorporated saw a significant 29.2% drop in short interest, going from 81,300 shares to 57,600 shares as of August 31st.
• Wall Street analysts upgraded Twin Disc from a "hold" to a "strong-buy" rating, with a consensus price target of $12.00.
• The company recently reported a quarterly earnings miss, with $0.10 EPS against an estimate of $0.26, but total revenue was above expectations at $96.68 million.

Twin Disc, Incorporated (NASDAQ:TWIN - Get Free Report) was the target of a large decline in short interest in the month of August. As of August 31st, there was short interest totaling 57,600 shares, a decline of 29.2% from the August 15th total of 81,300 shares. Based on an average daily volume of 79,800 shares, the days-to-cover ratio is presently 0.7 days. Approximately 0.5% of the company's stock are sold short. Approximately 0.5% of the company's stock are sold short. Based on an average daily volume of 79,800 shares, the days-to-cover ratio is presently 0.7 days.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded Twin Disc from a "hold" rating to a "strong-buy" rating in a research note on Saturday, September 13th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $12.00.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Strs Ohio acquired a new stake in Twin Disc in the 1st quarter valued at approximately $74,000. Central Pacific Bank Trust Division grew its stake in shares of Twin Disc by 566.7% during the first quarter. Central Pacific Bank Trust Division now owns 10,000 shares of the industrial products company's stock worth $76,000 after purchasing an additional 8,500 shares in the last quarter. Huntington National Bank grew its stake in shares of Twin Disc by 500,000.0% during the second quarter. Huntington National Bank now owns 10,002 shares of the industrial products company's stock worth $88,000 after purchasing an additional 10,000 shares in the last quarter. Corton Capital Inc. acquired a new position in shares of Twin Disc during the second quarter worth $93,000. Finally, Deutsche Bank AG purchased a new stake in Twin Disc in the fourth quarter valued at $101,000. 65.25% of the stock is owned by hedge funds and other institutional investors.

Twin Disc Price Performance

Shares of TWIN traded down $0.13 during trading hours on Friday, hitting $13.33. 25,696 shares of the company were exchanged, compared to its average volume of 47,253. The firm's fifty day moving average is $10.61 and its 200 day moving average is $8.70. The company has a market cap of $191.82 million, a price-to-earnings ratio of -95.21 and a beta of 0.86. The company has a quick ratio of 0.75, a current ratio of 1.96 and a debt-to-equity ratio of 0.17. Twin Disc has a fifty-two week low of $6.16 and a fifty-two week high of $13.80.

Twin Disc (NASDAQ:TWIN - Get Free Report) last issued its quarterly earnings data on Thursday, August 21st. The industrial products company reported $0.10 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.26 by ($0.16). Twin Disc had a negative return on equity of 1.22% and a negative net margin of 0.56%.The company had revenue of $96.68 million for the quarter, compared to the consensus estimate of $93.00 million.

Twin Disc Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Monday, August 18th were issued a dividend of $0.04 per share. The ex-dividend date was Monday, August 18th. This represents a $0.16 dividend on an annualized basis and a yield of 1.2%. Twin Disc's dividend payout ratio is currently -114.29%.

Twin Disc Company Profile

Twin Disc, Incorporated engages in the design, manufacture, and sale of marine and heavy duty off-highway power transmission equipment in the United States, the Netherlands, China, Australia, Italy, and internationally. The company operates in two segments, Manufacturing and Distribution. Its principal products include marine transmissions, azimuth drives, surface drives, propellers, and boat management systems, as well as power-shift transmissions, hydraulic torque converters, power take-offs, industrial clutches, and controls systems.