Punch & Associates Investment Management Inc. Buys New Shares in Taylor Devices, Inc. $TAYD

Punch & Associates Investment Management Inc. purchased a new stake in shares of Taylor Devices, Inc. (NASDAQ:TAYD) during the second quarter, Holdings Channel reports. The fund purchased 32,300 shares of the industrial products company’s stock, valued at approximately $1,895,000.

A number of other large investors have also recently bought and sold shares of the business. BlackRock Inc. bought a new position in shares of Taylor Devices in the 2nd quarter worth about $10,438,000. Vanguard Group Inc. grew its stake in Taylor Devices by 2.1% during the third quarter. Vanguard Group Inc. now owns 151,867 shares of the industrial products company’s stock worth $7,451,000 after purchasing an additional 3,121 shares during the period. Ameriprise Financial Inc. acquired a new stake in Taylor Devices during the second quarter worth approximately $4,361,000. Dimensional Fund Advisors LP lifted its stake in Taylor Devices by 0.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 69,543 shares of the industrial products company’s stock valued at $4,067,000 after buying an additional 217 shares during the period. Finally, Martin & Co. Inc. TN acquired a new position in Taylor Devices in the second quarter valued at approximately $3,415,000. 17.62% of the stock is currently owned by institutional investors and hedge funds.

Taylor Devices Trading Up 0.6%

NASDAQ TAYD opened at $60.01 on Thursday. The company has a fifty day simple moving average of $55.82 and a 200 day simple moving average of $61.46. Taylor Devices, Inc. has a 12-month low of $40.50 and a 12-month high of $90.37. The company has a market cap of $193.53 million, a P/E ratio of 22.82 and a beta of 0.94.

Taylor Devices (NASDAQ:TAYD) last released its quarterly earnings data on Tuesday, August 18th. The industrial products company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.28). Taylor Devices had a return on equity of 12.49% and a net margin of 20.56%.The business had revenue of $8.95 million for the quarter, compared to analyst estimates of $12.80 million.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Weiss Ratings downgraded shares of Taylor Devices from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, August 19th. Wall Street Zen lowered shares of Taylor Devices from a “buy” rating to a “hold” rating in a research note on Monday, August 3rd. Freedom Broker upgraded shares of Taylor Devices from a “hold” rating to a “buy” rating and raised their price target for the stock from $67.00 to $70.00 in a report on Thursday, August 20th. Finally, Freedom Capital upgraded shares of Taylor Devices from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $70.00.

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.