Taylor Devices (NASDAQ:TAYD) Cut to Hold at Wall Street Zen

Wall Street Zen lowered shares of Taylor Devices (NASDAQ:TAYD) from a buy rating to a hold rating in a research note published on Saturday.

Separately, Weiss Ratings downgraded shares of Taylor Devices from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, June 23rd. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock presently has an average rating of “Hold”.

Taylor Devices Stock Performance

TAYD opened at $54.82 on Friday. The stock has a market capitalization of $176.52 million, a P/E ratio of 16.61 and a beta of 0.92. The company’s 50-day simple moving average is $54.49 and its two-hundred day simple moving average is $64.49. Taylor Devices has a 52-week low of $40.50 and a 52-week high of $90.37.

Insider Buying and Selling

In other Taylor Devices news, Director Robert Michael Carey sold 5,000 shares of the stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $56.73, for a total value of $283,650.00. Following the transaction, the director owned 7,721 shares of the company’s stock, valued at approximately $438,012.33. This represents a 39.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 8.88% of the company’s stock.

Institutional Investors Weigh In On Taylor Devices

Large investors have recently made changes to their positions in the company. 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 worth $43,000 after purchasing an additional 300 shares during the period. Tower Research Capital LLC TRC grew its position in Taylor Devices by 253.3% during the second quarter. Tower Research Capital LLC TRC now owns 1,014 shares of the industrial products company’s stock valued at $44,000 after buying an additional 727 shares during the period. Bank of America Corp DE grew its position in Taylor Devices by 16.3% during the second quarter. Bank of America Corp DE now owns 2,153 shares of the industrial products company’s stock valued at $93,000 after buying an additional 301 shares during the period. Rhumbline Advisers increased its holdings in Taylor Devices by 24.8% during the first quarter. Rhumbline Advisers now owns 2,357 shares of the industrial products company’s stock valued at $76,000 after buying an additional 468 shares during the last quarter. Finally, Barclays PLC increased its holdings in Taylor Devices by 621.0% during the fourth quarter. Barclays PLC now owns 3,533 shares of the industrial products company’s stock valued at $207,000 after buying an additional 3,043 shares during the last quarter. 17.62% of the stock is currently owned by institutional investors.

About Taylor Devices

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.