Taylor Devices (NASDAQ:TAYD) Shares Cross Below 200-Day Moving Average – Time to Sell?

Shares of Taylor Devices, Inc. (NASDAQ:TAYD) passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $64.77 and traded as low as $57.19. Taylor Devices shares last traded at $58.68, with a volume of 32,913 shares trading hands.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on TAYD shares. Weiss Ratings cut shares of Taylor Devices from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, June 23rd. Wall Street Zen upgraded shares of Taylor Devices from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Two analysts have rated the stock with a Hold rating, According to MarketBeat.com, Taylor Devices presently has a consensus rating of “Hold”.

Taylor Devices Stock Performance

The business’s fifty day moving average price is $54.29 and its 200-day moving average price is $64.77. The stock has a market cap of $188.95 million, a PE ratio of 17.78 and a beta of 0.94.

Taylor Devices (NASDAQ:TAYD) last announced its quarterly earnings results on Tuesday, March 31st. The industrial products company reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.02. Taylor Devices had a net margin of 21.52% and a return on equity of 15.77%. The firm had revenue of $11.17 million during the quarter, compared to analyst estimates of $13.18 million.

Insider Transactions at Taylor Devices

In other Taylor Devices news, Director Robert Michael Carey sold 5,000 shares of Taylor Devices stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $56.73, for a total value of $283,650.00. Following the completion of the sale, the director owned 7,721 shares of the company’s stock, valued at approximately $438,012.33. The trade was a 39.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 8.88% of the company’s stock.

Hedge Funds Weigh In On Taylor Devices

A number of institutional investors and hedge funds have recently modified their holdings of TAYD. Dimensional Fund Advisors LP increased its position in Taylor Devices by 0.3% during 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 acquiring an additional 217 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Taylor Devices by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 35,509 shares of the industrial products company’s stock valued at $2,077,000 after purchasing an additional 259 shares during 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 worth $43,000 after purchasing an additional 300 shares during the period. 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 worth $93,000 after purchasing an additional 301 shares during the period. Finally, First Trust Advisors LP boosted its holdings in shares of Taylor Devices by 4.1% in the second quarter. First Trust Advisors LP now owns 10,127 shares of the industrial products company’s stock worth $440,000 after buying an additional 399 shares during the last quarter. 17.62% of the stock is currently owned by hedge funds and other 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.