Twin Disc , Inc. (NASDAQ:TWIN) has reported a significant transaction involving its President and CEO, John H. Batten. According to the latest filing, Batten sold a total of $277,168 worth of company stock. The transactions, which took place on May 22 and May 23, saw shares being sold at prices ranging from $14.00 to $14.1093.
Batten's sale consisted of multiple transactions over two days. On the first day, he sold 2,662 shares at an average price of $14.1093 and another batch of 5,000 shares at $14.0011. The following day, he continued with the sale of 5,000 shares at $14.0017 and concluded with a sale of 7,114 shares at a flat rate of $14.00. Following these transactions, Batten's ownership in the company stands at 366,274 shares of common stock, maintaining a substantial stake in the company.
The sales were conducted directly by Batten, without any involvement of equity swaps. It is also noted that aside from his direct holdings, Batten holds indirect ownership through various trusts. These include the Michael E. Batten Marital Trust, the Michael E. Batten Family Trust, the Elizabeth Batten Stribney Trust, the Timothy Michael Batten Trust, and the Louise Vernet Batten Grantor Trust.
Twin Disc, Inc., headquartered in Racine, Wisconsin, specializes in the manufacture of industrial machinery and equipment. The company has a rich history dating back to its former name, Twin Disc Clutch Co., which was changed in 1977.
The reported transactions provide investors with insight into the executive's stock activity, which can be a valuable piece of information for shareholders and potential investors. While the reasons behind Batten's decision to sell shares are not disclosed in the filing, the transaction details are now public record, offering transparency into the trading actions of Twin Disc's top executive.
InvestingPro Insights
Twin Disc, Inc. (NASDAQ:TWIN) has seen its President and CEO, John H. Batten, engage in notable stock transactions. To provide additional context to these recent events, here are some insights from InvestingPro that may be of interest to shareholders and potential investors.
InvestingPro Data for Twin Disc reveals a market capitalization of $199.31 million, with a trailing twelve-month P/E ratio of 18.42, which adjusts down to 15.22 when looking ahead to the next twelve months. This suggests that the company's earnings relative to its share price are becoming more attractive. The company has also demonstrated solid revenue growth in the last twelve months as of Q3 2024, with a 9.52% increase, pointing to a positive trend in its financial performance.
From the perspective of InvestingPro Tips, it's worth noting that the stock has faced challenges recently, with a one-month price total return of -14.92%. However, this could be a potential point of interest for value investors, especially since the RSI metric indicates that the stock is currently in oversold territory. Additionally, Twin Disc's liquid assets surpass short-term obligations, and the company operates with a moderate level of debt, which may provide some level of assurance to investors concerned about the company's financial health.
For those interested in further analysis and additional InvestingPro Tips, there are more insights available at https://www.investing.com/pro/TWIN. Currently, there are five more InvestingPro Tips listed, providing a deeper dive into Twin Disc's financials and market performance. To access these tips and the wealth of other features InvestingPro offers, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. This promotion code enhances the value proposition for investors looking to leverage advanced tools and data for informed decision-making.
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