Twin Disc (NASDAQ:TWIN) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Twin Disc, Incorporated (NASDAQ:TWIN) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $15.53 and traded as high as $18.97. Twin Disc shares last traded at $18.74, with a volume of 69,107 shares trading hands.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on TWIN. Zacks Research upgraded shares of Twin Disc to a “hold” rating in a research note on Tuesday, December 9th. Weiss Ratings upgraded shares of Twin Disc from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, February 20th. Finally, Wall Street Zen raised Twin Disc from a “hold” rating to a “strong-buy” rating in a research report on Saturday, February 7th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $12.00.

Twin Disc Price Performance

The business’s 50-day simple moving average is $17.49 and its two-hundred day simple moving average is $15.53. The stock has a market cap of $270.23 million, a price-to-earnings ratio of 12.49 and a beta of 0.67. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.12 and a quick ratio of 0.75.

Twin Disc (NASDAQ:TWIN) last released its quarterly earnings data on Wednesday, February 4th. The industrial products company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.17). The firm had revenue of $90.18 million for the quarter, compared to analyst estimates of $92.80 million. Twin Disc had a net margin of 6.26% and a return on equity of 0.02%.

Twin Disc Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Wednesday, February 18th were issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Wednesday, February 18th. Twin Disc’s payout ratio is 10.67%.

Hedge Funds Weigh In On Twin Disc

Several large investors have recently modified their holdings of TWIN. Allspring Global Investments Holdings LLC acquired a new stake in Twin Disc in the third quarter valued at $1,224,000. Y Intercept Hong Kong Ltd bought a new stake in shares of Twin Disc in the 2nd quarter valued at about $420,000. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Twin Disc by 32.5% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 79,273 shares of the industrial products company’s stock valued at $700,000 after buying an additional 19,434 shares during the period. Bailard Inc. acquired a new stake in Twin Disc during the 2nd quarter valued at approximately $256,000. Finally, Martin & Co. Inc. TN acquired a new position in shares of Twin Disc in the 2nd quarter worth approximately $277,000. Institutional investors own 65.25% of the company’s stock.

Twin Disc Company Profile

Twin Disc, Inc (NASDAQ: TWIN) is a global designer and manufacturer of power transmission equipment for marine and industrial applications. Headquartered in Racine, Wisconsin, the company develops a range of mechanical and digital solutions that control power delivery in demanding environments. Its portfolio includes marine gears, power take-offs, clutches, brakes, transmissions and controllable pitch propeller systems engineered to withstand heavy loads and corrosive conditions.

In addition to original equipment manufacturing, Twin Disc offers aftermarket parts and services, including maintenance, repair and overhaul support through a network of service centers worldwide.