399,983 Shares in Transcat, Inc. $TRNS Bought by Barrow Hanley Mewhinney & Strauss LLC

Key Points

• Barrow Hanley Mewhinney & Strauss LLC purchased 399,983 Transcat shares worth approximately $37.1 million, giving it a 4.27% stake. Institutional investors collectively own 98.34% of the company.
• Transcat reported quarterly EPS of $0.51, beating estimates of $0.38, while revenue of $92.95 million exceeded the $86.55 million consensus forecast.
• TRNS opened at $92.50, near its 12-month high of $100.00. Analysts have a consensus “Reduce” rating and a $95 price target, while recent insider activity included both a director purchase and a director sale.

Barrow Hanley Mewhinney & Strauss LLC bought a new stake in Transcat, Inc. (NASDAQ:TRNS - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 399,983 shares of the scientific and technical instruments company's stock, valued at approximately $37,106,000. Barrow Hanley Mewhinney & Strauss LLC owned 4.27% of Transcat as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Teachers Retirement System of The State of Kentucky acquired a new position in shares of Transcat in the 4th quarter valued at about $1,974,000. Needham Investment Management LLC grew its stake in Transcat by 33.0% during the fourth quarter. Needham Investment Management LLC now owns 124,370 shares of the scientific and technical instruments company's stock worth $7,056,000 after purchasing an additional 30,870 shares during the period. Dimensional Fund Advisors LP grew its stake in Transcat by 3.7% during the first quarter. Dimensional Fund Advisors LP now owns 262,033 shares of the scientific and technical instruments company's stock worth $19,244,000 after purchasing an additional 9,266 shares during the period. Fifth Third Bancorp increased its holdings in Transcat by 6,267.8% in the first quarter. Fifth Third Bancorp now owns 47,886 shares of the scientific and technical instruments company's stock worth $3,517,000 after purchasing an additional 47,134 shares in the last quarter. Finally, Summit Creek Advisors LLC bought a new stake in Transcat in the second quarter worth approximately $4,357,000. Institutional investors own 98.34% of the company's stock.

Transcat Price Performance

Shares of TRNS opened at $92.50 on Monday. Transcat, Inc. has a 12-month low of $50.23 and a 12-month high of $100.00. The business's fifty day moving average is $90.27 and its 200 day moving average is $81.96. The company has a quick ratio of 2.11, a current ratio of 2.49 and a debt-to-equity ratio of 0.36. The stock has a market cap of $865.80 million, a P/E ratio of 250.00 and a beta of 0.68.

Transcat (NASDAQ:TRNS - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The scientific and technical instruments company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.13. Transcat had a net margin of 0.99% and a return on equity of 5.56%. The business had revenue of $92.95 million during the quarter, compared to the consensus estimate of $86.55 million. Sell-side analysts anticipate that Transcat, Inc. will post 1.74 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on TRNS. Zacks Research raised Transcat from a "strong sell" rating to a "hold" rating in a research note on Friday, May 15th. Northland Securities lowered shares of Transcat from an "outperform" rating to a "market perform" rating and set a $95.00 price objective for the company. in a research note on Wednesday, August 5th. Wall Street Zen upgraded shares of Transcat from a "sell" rating to a "hold" rating in a research report on Sunday, June 28th. Finally, Weiss Ratings raised shares of Transcat from a "sell (d)" rating to a "sell (d+)" rating in a research note on Thursday, May 28th. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Reduce" and a consensus target price of $95.00.

Insiders Place Their Bets

In related news, Director Christopher P. Gillette sold 504 shares of the company's stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $94.23, for a total value of $47,491.92. Following the sale, the director owned 200 shares in the company, valued at $18,846. This represents a 71.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Craig D. Cairns bought 1,050 shares of the stock in a transaction that occurred on Thursday, August 6th. The stock was acquired at an average price of $93.97 per share, for a total transaction of $98,668.50. Following the acquisition, the director directly owned 1,480 shares in the company, valued at $139,075.60. The trade was a 244.19% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 1.80% of the stock is currently owned by company insiders.

Transcat Company Profile

Transcat, Inc NASDAQ: TRNS is a leading provider of calibration, laboratory, and metrology services in North America. Founded in 1964 and headquartered in Ronkonkoma, New York, the company specializes in ensuring the accuracy and compliance of measurement instruments across a wide range of industries. Transcat operates a network of ISO/IEC 17025–accredited laboratories and offers on-site field calibration, instrument repair, and preventive maintenance services.

In addition to its calibration services, Transcat distributes precision instrumentation and related software solutions from top manufacturers.

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