Taylor Devices (NASDAQ:TAYD) Stock Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Taylor Devices, Inc. (NASDAQ:TAYD)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $36.53 and traded as high as $37.50. Taylor Devices shares last traded at $36.68, with a volume of 8,208 shares changing hands.

Wall Street Analyst Weigh In

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

Taylor Devices Trading Down 2.1%

The firm has a fifty day simple moving average of $33.35 and a 200 day simple moving average of $36.53. The stock has a market cap of $115.07 million, a price-to-earnings ratio of 13.69 and a beta of 0.79.

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

Insider Transactions at Taylor Devices

In related news, CEO Timothy John Sopko bought 1,000 shares of the company’s stock in a transaction dated 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 acquisition, the chief executive officer now owns 10,000 shares in the company, valued at approximately $300,300. This represents a 11.11% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 7.75% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Taylor Devices

Hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC raised its holdings in shares of Taylor Devices by 3,746.2% in the 1st quarter. GAMMA Investing LLC now owns 1,000 shares of the industrial products company’s stock worth $31,000 after buying an additional 974 shares in the last quarter. Rhumbline Advisers raised its holdings in shares of Taylor Devices by 24.8% in the 1st quarter. Rhumbline Advisers now owns 2,357 shares of the industrial products company’s stock worth $76,000 after buying an additional 468 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of Taylor Devices by 57.1% in the 4th quarter. Bank of America Corp DE now owns 2,800 shares of the industrial products company’s stock worth $117,000 after buying an additional 1,018 shares in the last quarter. Barclays PLC raised its holdings in shares of Taylor Devices by 325.6% in the 3rd quarter. Barclays PLC now owns 3,426 shares of the industrial products company’s stock worth $172,000 after buying an additional 2,621 shares in the last quarter. Finally, Wells Fargo & Company MN increased its holdings in Taylor Devices by 80.6% during the 4th quarter. Wells Fargo & Company MN now owns 4,754 shares of the industrial products company’s stock valued at $198,000 after purchasing an additional 2,121 shares in the last quarter. 17.62% of the stock is 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.