Twin Disc (NASDAQ:TWIN) Share Price Passes Above 200 Day Moving Average – Here’s What Happened

Shares of Twin Disc, Incorporated (NASDAQ:TWIN) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $17.26 and traded as high as $22.49. Twin Disc shares last traded at $22.16, with a volume of 94,104 shares traded.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on TWIN. Wall Street Zen downgraded shares of Twin Disc from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 6th. Weiss Ratings upgraded shares of Twin Disc from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, June 12th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy”.

Twin Disc Price Performance

The company has a 50 day moving average of $18.22 and a 200-day moving average of $17.26. The firm has a market capitalization of $319.55 million, a P/E ratio of 12.04 and a beta of 0.71. 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 data on Wednesday, May 6th. The industrial products company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.02). The firm had revenue of $96.69 million during the quarter, compared to analyst estimates of $94.70 million. Twin Disc had a net margin of 7.32% and a return on equity of 2.77%.

Twin Disc Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 18th were given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Monday, May 18th. Twin Disc’s payout ratio is presently 8.70%.

Hedge Funds Weigh In On Twin Disc

A number of hedge funds have recently bought and sold shares of TWIN. Gamco Investors INC. ET AL boosted its holdings in Twin Disc by 0.5% in the 4th quarter. Gamco Investors INC. ET AL now owns 1,737,299 shares of the industrial products company’s stock valued at $28,978,000 after purchasing an additional 8,600 shares during the period. Vanguard Group Inc. grew its position in shares of Twin Disc by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 576,549 shares of the industrial products company’s stock worth $8,037,000 after purchasing an additional 5,407 shares in the last quarter. Ameriprise Financial Inc. increased its holdings 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 worth $3,878,000 after purchasing an additional 417,590 shares during the period. Gabelli Funds LLC increased its holdings in shares of Twin Disc by 1.5% during the first quarter. Gabelli Funds LLC now owns 400,524 shares of the industrial products company’s stock worth $6,036,000 after purchasing an additional 6,000 shares during the period. Finally, Mink Brook Asset Management LLC raised its position in shares of Twin Disc by 385.8% in the third quarter. Mink Brook Asset Management LLC now owns 298,520 shares of the industrial products company’s stock valued at $4,161,000 after buying an additional 237,073 shares in the last quarter. 65.25% of the stock is owned by institutional investors.

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.