Taylor Devices, Inc. (NASDAQ:TAYD) Short Interest Up 107.9% in March

Taylor Devices, Inc. (NASDAQ:TAYD) was the target of a significant increase in short interest in the month of March. As of March 15th, there was short interest totalling 18,500 shares, an increase of 107.9% from the February 29th total of 8,900 shares. Based on an average daily volume of 16,300 shares, the short-interest ratio is currently 1.1 days. Approximately 0.6% of the company’s shares are sold short.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Taylor Devices from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 20th.

Insider Activity

In other Taylor Devices news, major shareholder Ira Sochet sold 459,015 shares of the business’s stock in a transaction dated Wednesday, January 10th. The stock was sold at an average price of $19.92, for a total transaction of $9,143,578.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 7.12% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Geode Capital Management LLC acquired a new stake in Taylor Devices during the first quarter valued at approximately $351,000. Renaissance Technologies LLC raised its stake in Taylor Devices by 37.8% during the first quarter. Renaissance Technologies LLC now owns 45,562 shares of the industrial products company’s stock valued at $913,000 after buying an additional 12,500 shares in the last quarter. Northern Trust Corp acquired a new stake in Taylor Devices during the fourth quarter valued at approximately $268,000. Dimensional Fund Advisors LP acquired a new stake in Taylor Devices during the third quarter valued at approximately $105,000. Finally, Vanguard Group Inc. raised its stake in Taylor Devices by 19.9% during the third quarter. Vanguard Group Inc. now owns 46,980 shares of the industrial products company’s stock valued at $1,001,000 after buying an additional 7,785 shares in the last quarter. Institutional investors and hedge funds own 17.62% of the company’s stock.

Taylor Devices Stock Performance

Shares of NASDAQ:TAYD traded up $6.02 during trading on Thursday, hitting $49.80. The company’s stock had a trading volume of 18,701 shares, compared to its average volume of 16,643. Taylor Devices has a fifty-two week low of $16.77 and a fifty-two week high of $49.99. The stock’s 50-day moving average price is $36.63 and its two-hundred day moving average price is $27.56. The company has a market capitalization of $175.30 million, a PE ratio of 20.46 and a beta of 0.97.

Taylor Devices (NASDAQ:TAYD) last released its quarterly earnings results on Wednesday, January 10th. The industrial products company reported $0.56 EPS for the quarter. Taylor Devices had a return on equity of 14.82% and a net margin of 18.48%. The business had revenue of $10.34 million for the quarter.

About Taylor Devices

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.