StockNews.com Downgrades Taylor Devices (NASDAQ:TAYD) to Hold

StockNews.com lowered shares of Taylor Devices (NASDAQ:TAYD) from a buy rating to a hold rating in a research report report published on Friday.

Taylor Devices Stock Down 4.0 %

NASDAQ:TAYD opened at $49.52 on Friday. The business’s 50-day simple moving average is $46.30 and its two-hundred day simple moving average is $45.40. Taylor Devices has a 52 week low of $19.81 and a 52 week high of $61.69. The stock has a market cap of $174.31 million, a PE ratio of 19.89 and a beta of 1.03.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in TAYD. Janney Montgomery Scott LLC grew its holdings in Taylor Devices by 0.4% during the 4th quarter. Janney Montgomery Scott LLC now owns 135,222 shares of the industrial products company’s stock valued at $2,992,000 after buying an additional 500 shares in the last quarter. Johnson Bixby & Associates LLC purchased a new position in Taylor Devices during the first quarter valued at $373,000. LSV Asset Management bought a new stake in Taylor Devices in the 1st quarter valued at $119,000. Vanguard Group Inc. lifted its stake in Taylor Devices by 6.7% in the 1st quarter. Vanguard Group Inc. now owns 56,441 shares of the industrial products company’s stock worth $2,809,000 after purchasing an additional 3,561 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC purchased a new position in shares of Taylor Devices during the first quarter valued at about $488,000. 17.62% of the stock is owned by hedge funds and other institutional investors.

Taylor Devices Company Profile

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.