Zacks Investment Research downgraded shares of Twin Disc (NASDAQ:TWIN) from a strong-buy rating to a hold rating in a research note issued to investors on Saturday, December 30th.
According to Zacks, “TWIN DISC, INC. designs, manufactures and sells heavy duty off-highway power transmission equipment. Products offered include: hydraulic torque converters; power-shift transmissions; marine transmissions and surface drives; universal joints; gas turbine starting drives; power take-offs and reduction gears; industrial clutches; fluid couplings and control systems. Principal markets are: construction equipment, industrial equipment, government, marine, energy and natural resources and agriculture. “
Twin Disc (TWIN) opened at $27.62 on Friday. Twin Disc has a 52-week low of $14.81 and a 52-week high of $29.35. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.12 and a quick ratio of 1.42. The firm has a market capitalization of $327.36, a PE ratio of -920.36 and a beta of 1.73.
Twin Disc (NASDAQ:TWIN) last issued its earnings results on Friday, October 27th. The industrial products company reported $0.29 earnings per share for the quarter. Twin Disc had a positive return on equity of 0.27% and a negative net margin of 0.12%. The business had revenue of $45.06 million during the quarter, compared to analyst estimates of $45.90 million. During the same quarter in the previous year, the firm earned ($0.24) EPS. Twin Disc’s revenue was up 25.7% on a year-over-year basis. equities analysts forecast that Twin Disc will post 0.58 earnings per share for the current year.
In other Twin Disc news, insider John H. Batten sold 3,000 shares of the business’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $27.31, for a total transaction of $81,930.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Jeffrey Scott Knutson sold 1,750 shares of the business’s stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $28.21, for a total value of $49,367.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,250 shares of company stock valued at $304,988. Corporate insiders own 27.50% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. Neuberger Berman Group LLC grew its stake in shares of Twin Disc by 4.6% during the 3rd quarter. Neuberger Berman Group LLC now owns 619,446 shares of the industrial products company’s stock valued at $11,528,000 after acquiring an additional 27,476 shares during the period. California Public Employees Retirement System grew its stake in shares of Twin Disc by 15.7% during the 3rd quarter. California Public Employees Retirement System now owns 59,696 shares of the industrial products company’s stock valued at $1,111,000 after acquiring an additional 8,096 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Twin Disc by 4.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 615,564 shares of the industrial products company’s stock valued at $11,456,000 after acquiring an additional 25,262 shares during the period. Wells Fargo & Company MN grew its stake in shares of Twin Disc by 14.4% during the 3rd quarter. Wells Fargo & Company MN now owns 32,108 shares of the industrial products company’s stock valued at $597,000 after acquiring an additional 4,048 shares during the period. Finally, SG Americas Securities LLC bought a new position in shares of Twin Disc during the 3rd quarter valued at approximately $608,000. Institutional investors own 52.58% of the company’s stock.
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About Twin Disc
Twin Disc, Incorporated designs, manufactures and sells marine and heavy duty off-highway power transmission equipment. The Company operates through two segments: manufacturing and distribution. Its products include marine transmissions, surface drives, propellers and boat management systems, as well as power-shift transmissions, hydraulic torque converters, power take-offs, industrial clutches and controls systems.
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