Key Points
- Twin Disc CFO Jeffrey Scott Knutson sold 4,302 shares at an average price of $23.00, receiving $98,946. Following the transaction, he retained 178,275 shares, reducing his direct holdings by 2.36%.
- Twin Disc reported quarterly earnings of $0.64 per share, exceeding analyst expectations of $0.23, while revenue of $114.4 million also surpassed estimates. The stock was up 4.6% and opened at $23.85.
- The company raised its quarterly dividend from $0.04 to $0.05 per share, equivalent to a $0.20 annualized payout and a 0.8% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $30.
Twin Disc, Incorporated (NASDAQ:TWIN - Get Free Report) CFO Jeffrey Scott Knutson sold 4,302 shares of the stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $23.00, for a total value of $98,946.00. Following the sale, the chief financial officer directly owned 178,275 shares in the company, valued at $4,100,325. This trade represents a 2.36% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Twin Disc Stock Up 4.6%
TWIN stock opened at $23.85 on Friday. The company has a quick ratio of 0.81, a current ratio of 2.09 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $343.92 million, a PE ratio of 10.02 and a beta of 0.67. Twin Disc, Incorporated has a twelve month low of $12.79 and a twelve month high of $25.50. The stock has a 50-day simple moving average of $23.20 and a two-hundred day simple moving average of $19.55.
Twin Disc (NASDAQ:TWIN - Get Free Report) last announced its quarterly earnings results on Thursday, August 20th. The industrial products company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.41. Twin Disc had a return on equity of 7.19% and a net margin of 9.06%.The firm had revenue of $114.40 million for the quarter, compared to analysts' expectations of $100.35 million.
Twin Disc Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th were issued a dividend of $0.05 per share. This is a boost from Twin Disc's previous quarterly dividend of $0.04. The ex-dividend date of this dividend was Tuesday, August 18th. This represents a $0.20 dividend on an annualized basis and a yield of 0.8%. Twin Disc's payout ratio is currently 8.40%.
Institutional Investors Weigh In On Twin Disc
Institutional investors and hedge funds have recently bought and sold shares of the stock. Legal & General Group Plc purchased a new position in Twin Disc in the 2nd quarter worth approximately $26,000. Global Retirement Partners LLC purchased a new stake in shares of Twin Disc during the 2nd quarter valued at $54,000. California State Teachers Retirement System bought a new stake in shares of Twin Disc during the 2nd quarter worth $86,000. JPMorgan Chase & Co. grew its position 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 worth $75,000 after acquiring an additional 1,193 shares in the last quarter. Finally, Strs Ohio bought a new position in Twin Disc in the first quarter valued at $74,000. 65.25% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several research analysts have commented on TWIN shares. Lake Street Capital began coverage on shares of Twin Disc in a report on Thursday, July 9th. They issued a "buy" rating and a $30.00 price target for the company. Weiss Ratings raised shares of Twin Disc from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, June 12th. 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 analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $30.00.
View Our Latest Report on Twin Disc
About Twin Disc
(
Get Free Report)
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.
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