Insider Selling: Twin Disc (NASDAQ:TWIN) CFO Sells 4,302 Shares of Stock

Twin Disc, Incorporated (NASDAQ:TWIN) CFO Jeffrey Scott Knutson sold 4,302 shares of the firm’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $23.00, for a total value of $98,946.00. Following the completion of the transaction, the chief financial officer owned 178,275 shares of the company’s stock, valued at $4,100,325. This trade represents a 2.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Twin Disc Stock Performance

Twin Disc stock traded up $1.04 during trading hours on Friday, hitting $23.85. 105,985 shares of the stock traded hands, compared to its average volume of 82,944. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.09 and a quick ratio of 0.81. The firm’s 50 day moving average price is $23.21 and its 200-day moving average price is $19.52. The stock has a market capitalization of $343.99 million, a price-to-earnings ratio of 10.02 and a beta of 0.67. Twin Disc, Incorporated has a 1 year low of $12.79 and a 1 year high of $25.50.

Twin Disc (NASDAQ:TWIN) last announced its quarterly earnings data on Thursday, August 20th. The industrial products company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.41. Twin Disc had a return on equity of 7.19% and a net margin of 9.06%.The business had revenue of $114.40 million for the quarter, compared to analyst estimates of $100.35 million.

Twin Disc Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th were issued a $0.05 dividend. This is a boost from Twin Disc’s previous quarterly dividend of $0.04. The ex-dividend date was Tuesday, August 18th. This represents a $0.20 annualized dividend and a yield of 0.8%. Twin Disc’s dividend payout ratio is currently 8.40%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of TWIN. State Street Corp boosted its position in Twin Disc by 2.3% in the 4th quarter. State Street Corp now owns 44,105 shares of the industrial products company’s stock worth $736,000 after purchasing an additional 1,000 shares in the last quarter. Legal & General Group Plc purchased a new position in shares of Twin Disc during the 2nd quarter valued at approximately $26,000. JPMorgan Chase & Co. lifted its stake in shares of Twin Disc by 28.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,361 shares of the industrial products company’s stock valued at $75,000 after purchasing an additional 1,193 shares during the period. First Trust Advisors LP lifted its stake in shares of Twin Disc by 4.1% in the 2nd quarter. First Trust Advisors LP now owns 35,168 shares of the industrial products company’s stock valued at $311,000 after purchasing an additional 1,378 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in Twin Disc by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 131,241 shares of the industrial products company’s stock worth $2,190,000 after buying an additional 1,550 shares in the last quarter. 65.25% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on TWIN. Lake Street Capital began coverage on shares of Twin Disc in a research note on Thursday, July 9th. They set a “buy” rating and a $30.00 price objective for the company. Wall Street Zen cut shares of Twin Disc from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 6th. Finally, Weiss Ratings upgraded shares of Twin Disc from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, June 12th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $30.00.

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.