Navellier & Associates Inc. Invests $517,000 in Taylor Devices, Inc. $TAYD

Navellier & Associates Inc. bought a new position in Taylor Devices, Inc. (NASDAQ:TAYD) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 8,816 shares of the industrial products company’s stock, valued at approximately $517,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Dimensional Fund Advisors LP increased its holdings in shares of Taylor Devices by 0.3% in 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 buying an additional 217 shares in the last quarter. Geode Capital Management LLC lifted 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 acquiring an additional 259 shares during the last quarter. Royal Bank of Canada boosted its stake in shares of Taylor Devices by 68.2% during the 4th quarter. Royal Bank of Canada now owns 740 shares of the industrial products company’s stock worth $43,000 after acquiring an additional 300 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of Taylor Devices by 16.3% during the 2nd quarter. Bank of America Corp DE now owns 2,153 shares of the industrial products company’s stock worth $93,000 after acquiring an additional 301 shares in the last quarter. Finally, First Trust Advisors LP grew its holdings in shares of Taylor Devices by 4.1% in the 2nd quarter. First Trust Advisors LP now owns 10,127 shares of the industrial products company’s stock worth $440,000 after acquiring an additional 399 shares during the last quarter. 17.62% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TAYD has been the topic of a number of recent analyst reports. Freedom Capital raised Taylor Devices from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 20th. Weiss Ratings lowered Taylor Devices from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, August 19th. Freedom Broker raised Taylor Devices from a “hold” rating to a “buy” rating and lifted their price target for the stock from $67.00 to $70.00 in a research note on Thursday, August 20th. Finally, Wall Street Zen downgraded Taylor Devices from a “buy” rating to a “hold” rating in a report on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Taylor Devices currently has an average rating of “Buy” and an average target price of $70.00.

Taylor Devices Trading Down 1.3%

Shares of Taylor Devices stock opened at $60.00 on Friday. Taylor Devices, Inc. has a 1 year low of $40.50 and a 1 year high of $90.37. The company has a market cap of $193.50 million, a P/E ratio of 22.81 and a beta of 0.94. The stock has a 50-day moving average price of $56.03 and a 200 day moving average price of $61.32.

Taylor Devices (NASDAQ:TAYD) last released its earnings results on Tuesday, August 18th. The industrial products company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.28). The business had revenue of $8.95 million for the quarter, compared to analysts’ expectations of $12.80 million. Taylor Devices had a net margin of 20.56% and a return on equity of 12.49%.

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.