Taylor Devices (NASDAQ:TAYD) Downgraded to “Hold” Rating by Wall Street Zen

Wall Street Zen cut shares of Taylor Devices (NASDAQ:TAYD) from a buy rating to a hold rating in a research note released on Saturday.

Separately, Weiss Ratings cut shares of Taylor Devices from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, June 23rd. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Taylor Devices Stock Down 4.2%

Shares of NASDAQ:TAYD opened at $54.67 on Friday. The firm has a market cap of $176.04 million, a P/E ratio of 16.57 and a beta of 0.92. Taylor Devices has a 12 month low of $40.50 and a 12 month high of $90.37. The company’s 50-day moving average price is $54.41 and its two-hundred day moving average price is $64.53.

Insider Activity

In related news, Director Robert Michael Carey sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $56.73, for a total value of $283,650.00. Following the transaction, the director owned 7,721 shares in the company, valued at $438,012.33. This trade represents a 39.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 8.88% of the stock is owned by company insiders.

Institutional Trading of Taylor Devices

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Renaissance Technologies LLC boosted its stake in shares of Taylor Devices by 12.5% in the 1st quarter. Renaissance Technologies LLC now owns 49,662 shares of the industrial products company’s stock valued at $2,831,000 after purchasing an additional 5,500 shares during the last quarter. Sei Investments Co. bought a new stake in shares of Taylor Devices during the first quarter worth approximately $943,000. Royal Bank of Canada raised its stake in shares of Taylor Devices by 68.2% during the fourth quarter. Royal Bank of Canada now owns 740 shares of the industrial products company’s stock worth $43,000 after buying an additional 300 shares during the last quarter. Two Sigma Investments LP acquired a new position in Taylor Devices in the third quarter valued at approximately $205,000. Finally, Tower Research Capital LLC TRC lifted its holdings in Taylor Devices by 253.3% in the second quarter. Tower Research Capital LLC TRC now owns 1,014 shares of the industrial products company’s stock valued at $44,000 after buying an additional 727 shares during the period. 17.62% of the stock is owned by institutional investors.

Taylor Devices Company Profile

Taylor Devices, Inc is an engineering firm headquartered in North Tonawanda, New York, specializing in the design, development and manufacture of motion control products and engineered fluid-handling devices. The company’s core focus is on providing high-performance hydraulic dampers, fluid springs (also known as gas springs), shock absorbers and hydraulic accumulators that are used to manage energy and motion in a wide range of industrial and structural applications.

The company’s product portfolio includes industrial shock absorbers designed to cushion and decelerate moving parts in manufacturing and test-and-measurement systems, fluid viscous dampers for seismic protection of buildings and bridges, and fluid spring devices that combine the properties of a gas spring and a hydraulic damper.