Twin Disc (NASDAQ:TWIN) CFO Jeffrey Scott Knutson Sells 7,482 Shares

Twin Disc, Incorporated (NASDAQ:TWIN) CFO Jeffrey Scott Knutson sold 7,482 shares of the firm’s stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $24.25, for a total value of $181,438.50. Following the completion of the sale, the chief financial officer directly owned 164,891 shares in the company, valued at approximately $3,998,606.75. The trade was a 4.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

Jeffrey Scott Knutson also recently made the following trade(s):

• On Friday, September 4th, Jeffrey Scott Knutson sold 5,902 shares of Twin Disc stock. The stock was sold at an average price of $23.25, for a total transaction of $137,221.50.
• On Thursday, September 3rd, Jeffrey Scott Knutson sold 4,302 shares of Twin Disc stock. The shares were sold at an average price of $23.00, for a total transaction of $98,946.00.

Twin Disc Trading Up 2.3%

Shares of Twin Disc stock opened at $24.41 on Wednesday. The firm’s 50-day moving average price is $23.23 and its 200 day moving average price is $19.66. Twin Disc, Incorporated has a twelve month low of $12.79 and a twelve month high of $25.50. The firm has a market capitalization of $351.99 million, a PE ratio of 10.26 and a beta of 0.67. The company has a current ratio of 2.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.23.

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

Twin Disc Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.8%. This is a positive change from Twin Disc’s previous quarterly dividend of $0.04. The ex-dividend date was Tuesday, August 18th. Twin Disc’s dividend payout ratio (DPR) is currently 8.40%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. IFP Advisors Inc increased its stake in Twin Disc by 2.0% during the second quarter. IFP Advisors Inc now owns 120,357 shares of the industrial products company’s stock worth $2,792,000 after acquiring an additional 2,368 shares during the last quarter. Squarepoint Ops LLC purchased a new position in shares of Twin Disc during the 2nd quarter worth $526,000. California State Teachers Retirement System acquired a new stake in shares of Twin Disc during the 2nd quarter worth about $86,000. Empowered Funds LLC acquired a new stake in shares of Twin Disc during the 2nd quarter worth about $666,000. Finally, Bank of America Corp DE purchased a new stake in Twin Disc in the 2nd quarter valued at about $259,000. 65.25% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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