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Timothy J. Sopko, the Chief Executive Officer of Taylor Devices, Inc. (NASDAQ:TAYD), recently purchased additional shares of the company. According to the latest SEC filings, Sopko acquired 1,000 shares of Taylor Devices common stock at a price of $33.25 per share, amounting to a total transaction value of $33,250. The purchase comes as the stock trades at an attractive P/E ratio of 11.8x, significantly below its growth potential according to InvestingPro analysis.
Following this transaction, Sopko's total direct holdings in the company increased to 9,000 shares. This purchase reflects Sopko's ongoing commitment to the company, as he continues to expand his stake in the North Tonawanda, New York-based manufacturer of industrial machinery and equipment. The company maintains strong financial health with a current ratio of 6.9x and has delivered solid returns, with revenue growing at nearly 9% over the last twelve months. InvestingPro subscribers can access 10+ additional insights about Taylor Devices' financial performance and growth prospects.
In other recent news, Taylor Devices, Inc. disclosed significant developments. President and board member Alan R. Klembczyk announced his retirement, effective June 1, 2025, and will not seek reelection to the board at the 2025 Annual Meeting of shareholders. The company has entered into an Executive Retirement and Transition Agreement with Mr. Klembczyk, who will continue to serve until November 30, 2025, to assist with the transition process.
These developments follow the company's Annual Meeting of Shareholders, where key proposals were approved. Two Class 1 Directors, John Burgess and F. Eric Armenat, were elected to serve a three-year term expiring in 2027. Additionally, Lumsden & McCormick (NYSE:MKC), LLP was ratified as the independent registered public accounting firm for the fiscal year ending May 31, 2025.
The company's recent filings with the Securities and Exchange Commission reflect these changes and underline the company's strong financial position. As pointed out by InvestingPro, the company has a current ratio of 6.88, a healthy return on equity of 16%, and an impressive Altman Z-Score of 11.97 indicating strong financial stability. It is also worth noting that Taylor Devices reported revenue growth of 8.83% in the last twelve months. These recent developments continue to shape the future of Taylor Devices, Inc.
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