Taylor Devices (NASDAQ:TAYD) Downgraded to Hold Rating by StockNews.com

Taylor Devices (NASDAQ:TAYD) was downgraded by equities researchers at StockNews.com from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Monday.

Taylor Devices Trading Down 1.4 %

Taylor Devices stock traded down $0.49 during mid-day trading on Monday, hitting $34.77. The company had a trading volume of 55,830 shares, compared to its average volume of 65,243. Taylor Devices has a 12 month low of $22.22 and a 12 month high of $64.50. The company has a market capitalization of $108.45 million, a PE ratio of 11.99 and a beta of 1.06. The stock’s 50 day moving average price is $44.77 and its two-hundred day moving average price is $48.04.

Taylor Devices (NASDAQ:TAYD) last announced its quarterly earnings results on Friday, January 3rd. The industrial products company reported $0.34 earnings per share (EPS) for the quarter. Taylor Devices had a net margin of 21.22% and a return on equity of 18.95%. During the same period in the previous year, the business posted $0.56 EPS.

Institutional Investors Weigh In On Taylor Devices

Several institutional investors and hedge funds have recently made changes to their positions in the company. MetLife Investment Management LLC purchased a new stake in Taylor Devices during the 3rd quarter valued at $70,000. FMR LLC lifted its holdings in shares of Taylor Devices by 1,138.6% during the third quarter. FMR LLC now owns 1,796 shares of the industrial products company’s stock valued at $90,000 after purchasing an additional 1,651 shares in the last quarter. Rhumbline Advisers purchased a new stake in shares of Taylor Devices during the second quarter valued at $86,000. BNP Paribas Financial Markets boosted its position in shares of Taylor Devices by 261.3% during the third quarter. BNP Paribas Financial Markets now owns 3,096 shares of the industrial products company’s stock valued at $155,000 after buying an additional 2,239 shares during the last quarter. Finally, Barclays PLC increased its holdings in 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. Institutional investors own 17.62% of the company’s stock.

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.