Taylor Devices (NASDAQ:TAYD) Share Price Passes Above 200 Day Moving Average – Here’s Why

Taylor Devices, Inc. (NASDAQ:TAYD) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $35.62 and traded as high as $36.82. Taylor Devices shares last traded at $36.53, with a volume of 6,280 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised Taylor Devices from a “hold” rating to a “buy” rating in a report on Monday, March 31st.

Taylor Devices Price Performance

The stock has a market capitalization of $114.59 million, a price-to-earnings ratio of 13.63 and a beta of 0.84. The stock has a 50-day moving average of $34.45 and a 200 day moving average of $35.62.

Taylor Devices (NASDAQ:TAYD) last posted its quarterly earnings results on Friday, March 28th. The industrial products company reported $0.64 earnings per share (EPS) for the quarter. The business had revenue of $10.57 million for the quarter. Taylor Devices had a return on equity of 17.04% and a net margin of 19.99%.

Insider Buying and Selling at Taylor Devices

In other Taylor Devices news, CEO Timothy John Sopko bought 1,000 shares of the stock in a transaction that occurred on Wednesday, April 23rd. The stock was acquired at an average cost of $30.03 per share, with a total value of $30,030.00. Following the purchase, the chief executive officer now owns 10,000 shares in the company, valued at $300,300. This trade represents a 11.11% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 7.75% of the company’s stock.

Institutional Investors Weigh In On Taylor Devices

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. De Lisle Partners LLP raised its holdings in shares of Taylor Devices by 60.6% in the first quarter. De Lisle Partners LLP now owns 42,276 shares of the industrial products company’s stock valued at $1,374,000 after purchasing an additional 15,950 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Taylor Devices by 28.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 45,772 shares of the industrial products company’s stock worth $1,905,000 after buying an additional 10,224 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Taylor Devices during the first quarter worth approximately $212,000. JPMorgan Chase & Co. grew its holdings in Taylor Devices by 577.9% in the 4th quarter. JPMorgan Chase & Co. now owns 7,010 shares of the industrial products company’s stock valued at $292,000 after buying an additional 5,976 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in Taylor Devices by 9.1% during the fourth quarter. Geode Capital Management LLC now owns 67,425 shares of the industrial products company’s stock worth $2,807,000 after acquiring an additional 5,611 shares during the period. 17.62% of the stock is currently owned by institutional investors and hedge funds.

Taylor Devices Company Profile

Taylor Devices, Inc engages in design, development, manufacture, and marketing of shock absorption, rate control, and energy storage devices for use in machinery, equipment, and structures in the United States, Asia, and internationally. Its products include seismic dampers that are designed to mitigate the effects of earthquakes on structures; Fluidicshoks, which are compact shock absorbers primarily used in defense, aerospace, and commercial industries; and crane and industrial buffers, which are larger versions of the Fluidicshoks for industrial application on cranes and crane trolleys, truck docks, ladle and ingot cars, ore trolleys, and train car stops.