Twin Disc, Incorporated (NASDAQ:TWIN) Sees Large Increase in Short Interest

Twin Disc, Incorporated (NASDAQ:TWIN) was the recipient of a large increase in short interest in June. As of June 30th, there was short interest totaling 348,028 shares, an increase of 387.8% from the June 15th total of 71,351 shares. Approximately 3.1% of the company’s stock are sold short. Based on an average daily volume of 285,865 shares, the short-interest ratio is currently 1.2 days.

Wall Street Analysts Forecast Growth

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

Twin Disc Price Performance

Shares of NASDAQ TWIN traded down $0.48 during trading hours on Friday, hitting $22.62. 109,543 shares of the stock were exchanged, compared to its average volume of 196,233. The company’s fifty day simple moving average is $19.57 and its two-hundred day simple moving average is $17.89. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.81 and a current ratio of 2.09. Twin Disc has a 1-year low of $8.03 and a 1-year high of $24.50. The company has a market cap of $326.18 million, a PE ratio of 12.29 and a beta of 0.64.

Twin Disc (NASDAQ:TWIN) last issued its earnings results on Wednesday, May 6th. The industrial products company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.02). The business had revenue of $96.69 million for the quarter, compared to analyst estimates of $94.70 million. Twin Disc had a return on equity of 2.77% and a net margin of 7.32%.

Twin Disc Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 18th were issued a dividend of $0.04 per share. The ex-dividend date of this dividend was Monday, May 18th. This represents a $0.16 annualized dividend and a dividend yield of 0.7%. Twin Disc’s dividend payout ratio (DPR) is 8.70%.

Institutional Investors Weigh In On Twin Disc

Hedge funds have recently added to or reduced their stakes in the business. Global Retirement Partners LLC acquired a new position in Twin Disc during the 4th quarter worth about $39,000. Strs Ohio bought a new position in Twin Disc during the first quarter worth $74,000. JPMorgan Chase & Co. lifted its holdings in Twin Disc by 28.6% in the third quarter. JPMorgan Chase & Co. now owns 5,361 shares of the industrial products company’s stock valued at $75,000 after buying an additional 1,193 shares during the period. Bank of America Corp DE boosted its position in Twin Disc by 40.9% during the second quarter. Bank of America Corp DE now owns 15,811 shares of the industrial products company’s stock valued at $140,000 after acquiring an additional 4,590 shares during the last quarter. Finally, Qube Research & Technologies Ltd acquired a new stake in Twin Disc during the 2nd quarter worth about $141,000. 65.25% of the stock is currently owned by institutional investors and hedge funds.

Twin Disc Company Profile

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.