Twin Disc (NASDAQ:TWIN) Posts Earnings Results, Beats Estimates By $0.41 EPS

Twin Disc (NASDAQ:TWIN) released its earnings results on Thursday. The industrial products company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.41, FiscalAI reports. The firm had revenue of $114.40 million during the quarter, compared to the consensus estimate of $100.35 million. Twin Disc had a return on equity of 2.77% and a net margin of 7.32%.

Twin Disc Price Performance

Shares of NASDAQ:TWIN opened at $23.74 on Thursday. The firm has a market cap of $342.34 million, a PE ratio of 12.98 and a beta of 0.64. The firm’s fifty day moving average is $22.80 and its 200-day moving average is $19.08. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.81 and a current ratio of 2.09. Twin Disc has a 52 week low of $8.50 and a 52 week high of $25.50.

Twin Disc Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Tuesday, August 18th. This is an increase from Twin Disc’s previous quarterly dividend of $0.04. Twin Disc’s dividend payout ratio is 10.87%.

Institutional Trading of Twin Disc

A number of institutional investors and hedge funds have recently modified their holdings of the business. Ameriprise Financial Inc. boosted its stake in shares of Twin Disc by 1,928.7% during the second quarter. Ameriprise Financial Inc. now owns 439,241 shares of the industrial products company’s stock valued at $3,878,000 after purchasing an additional 417,590 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in shares of Twin Disc by 132.4% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 149,035 shares of the industrial products company’s stock worth $2,078,000 after acquiring an additional 84,908 shares in the last quarter. Susquehanna International Group LLP lifted its position in Twin Disc by 441.6% during the 3rd quarter. Susquehanna International Group LLP now owns 99,791 shares of the industrial products company’s stock valued at $1,391,000 after acquiring an additional 81,366 shares during the period. Mink Brook Asset Management LLC purchased a new stake in Twin Disc in the second quarter worth about $543,000. Finally, O Shaughnessy Asset Management LLC increased its stake in shares of Twin Disc by 232.3% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 86,395 shares of the industrial products company’s stock valued at $1,441,000 after purchasing an additional 60,395 shares in the last quarter. 65.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

About Twin Disc

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.