Punch & Associates Investment Management Inc. Takes Position in Taylor Devices, Inc. $TAYD

Punch & Associates Investment Management Inc. purchased a new stake in shares of Taylor Devices, Inc. (NASDAQ:TAYD) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 32,300 shares of the industrial products company’s stock, valued at approximately $1,895,000. Punch & Associates Investment Management Inc. owned about 1.00% of Taylor Devices at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted its position 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 in the last quarter. Geode Capital Management LLC increased its holdings in shares of Taylor Devices by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 35,509 shares of the industrial products company’s stock worth $2,077,000 after buying an additional 259 shares in the last quarter. Royal Bank of Canada lifted its stake in shares of Taylor Devices by 68.2% in the 4th quarter. Royal Bank of Canada now owns 740 shares of the industrial products company’s stock valued at $43,000 after acquiring an additional 300 shares during the last quarter. Bank of America Corp DE lifted its stake in shares of Taylor Devices by 16.3% in the 2nd quarter. Bank of America Corp DE now owns 2,153 shares of the industrial products company’s stock valued at $93,000 after acquiring an additional 301 shares during the last quarter. Finally, First Trust Advisors LP boosted its holdings in shares of Taylor Devices by 4.1% during the 2nd quarter. First Trust Advisors LP now owns 10,127 shares of the industrial products company’s stock valued at $440,000 after acquiring an additional 399 shares in the last quarter. 17.62% of the stock is currently owned by institutional investors and hedge funds.

Taylor Devices Trading Up 0.6%

Shares of TAYD opened at $60.01 on Thursday. The company has a market capitalization of $193.53 million, a PE ratio of 22.82 and a beta of 0.94. Taylor Devices, Inc. has a 12 month low of $40.50 and a 12 month high of $90.37. The stock’s 50-day moving average price is $55.82 and its two-hundred day moving average price is $61.46.

Taylor Devices (NASDAQ:TAYD) last issued its quarterly earnings results 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 net margin of 20.56% and a return on equity of 12.49%. The company had revenue of $8.95 million during the quarter, compared to analyst estimates of $12.80 million.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Wall Street Zen cut Taylor Devices from a “buy” rating to a “hold” rating in a report on Monday, August 3rd. Weiss Ratings lowered Taylor Devices from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, August 19th. Freedom Broker upgraded Taylor Devices from a “hold” rating to a “buy” rating and boosted their price target for the stock from $67.00 to $70.00 in a report on Thursday, August 20th. Finally, Freedom Capital raised Taylor Devices from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $70.00.

Taylor Devices 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.