Diamond Hill Capital Management Inc. Raises Stock Position in Transcat, Inc. (NASDAQ:TRNS)

Diamond Hill Capital Management Inc. grew its holdings in Transcat, Inc. (NASDAQ:TRNS) by 11.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,143 shares of the scientific and technical instruments company’s stock after buying an additional 643 shares during the period. Diamond Hill Capital Management Inc. owned approximately 0.07% of Transcat worth $650,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. US Bancorp DE grew its stake in shares of Transcat by 15.6% in the 3rd quarter. US Bancorp DE now owns 1,547 shares of the scientific and technical instruments company’s stock worth $187,000 after buying an additional 209 shares in the last quarter. Jones Financial Companies Lllp grew its stake in shares of Transcat by 686.7% in the 4th quarter. Jones Financial Companies Lllp now owns 354 shares of the scientific and technical instruments company’s stock worth $37,000 after buying an additional 309 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Transcat by 8.8% during the 3rd quarter. Principal Financial Group Inc. now owns 4,611 shares of the scientific and technical instruments company’s stock worth $557,000 after purchasing an additional 373 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Transcat by 1.4% during the 4th quarter. Victory Capital Management Inc. now owns 34,710 shares of the scientific and technical instruments company’s stock worth $3,670,000 after purchasing an additional 480 shares during the period. Finally, Rhumbline Advisers boosted its stake in shares of Transcat by 4.1% during the 4th quarter. Rhumbline Advisers now owns 12,348 shares of the scientific and technical instruments company’s stock worth $1,306,000 after purchasing an additional 486 shares during the period. 98.34% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Transcat news, Director Craig D. Cairns purchased 1,200 shares of Transcat stock in a transaction dated Friday, January 31st. The stock was acquired at an average price of $77.02 per share, for a total transaction of $92,424.00. Following the acquisition, the director now owns 1,910 shares in the company, valued at $147,108.20. This trade represents a 169.01 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.30% of the company’s stock.

Transcat Trading Up 2.1 %

Shares of TRNS opened at $72.57 on Friday. Transcat, Inc. has a 1-year low of $70.47 and a 1-year high of $147.12. The company has a 50-day moving average of $86.32 and a 200 day moving average of $104.53. The firm has a market capitalization of $675.55 million, a price-to-earnings ratio of 39.23 and a beta of 0.66. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.42 and a quick ratio of 1.98.

Transcat (NASDAQ:TRNS) last announced its quarterly earnings data on Monday, January 27th. The scientific and technical instruments company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.07. Transcat had a net margin of 6.22% and a return on equity of 7.23%. During the same quarter last year, the business posted $0.56 earnings per share. On average, research analysts expect that Transcat, Inc. will post 2.3 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on TRNS shares. HC Wainwright dropped their price target on shares of Transcat from $126.00 to $106.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. StockNews.com cut shares of Transcat from a “hold” rating to a “sell” rating in a research note on Wednesday, February 5th. Oppenheimer cut shares of Transcat from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 29th. Craig Hallum lifted their price target on shares of Transcat from $113.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Finally, Northland Securities reaffirmed a “market perform” rating and set a $85.00 price target (down from $110.00) on shares of Transcat in a research note on Wednesday, January 29th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $111.50.

About Transcat

Transcat, Inc provides calibration and laboratory instrument services in the United States, Canada, and internationally. It operates through two segments: Service and Distribution. The Service segment offers calibration, repair, inspection, analytical qualification, preventative maintenance, consulting, and other related services.