46,185 Shares in Transcat, Inc. $TRNS Bought by Diamond Hill Capital Management LLC Investment Advisor

Key Points

• Diamond Hill Capital Management acquired 46,185 Transcat shares worth approximately $4.29 million, giving it a 0.49% 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 expectations of $86.55 million. Analysts expect full-year EPS of $1.74.
• TRNS shares opened at $93.84, near their 52-week high of $100.00. Analysts’ consensus rating is Hold, with a consensus price target of $105.50.

Diamond Hill Capital Management LLC Investment Advisor acquired a new stake in Transcat, Inc. (NASDAQ:TRNS - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 46,185 shares of the scientific and technical instruments company's stock, valued at approximately $4,285,000. Diamond Hill Capital Management LLC Investment Advisor owned 0.49% of Transcat at the end of the most recent quarter.

Several other large investors also recently modified their holdings of TRNS. Lazard Asset Management LLC purchased a new position in Transcat during the 2nd quarter valued at $54,000. Tower Research Capital LLC TRC lifted its position in shares of Transcat by 245.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,123 shares of the scientific and technical instruments company's stock worth $97,000 after purchasing an additional 798 shares during the period. Central Pacific Bank Trust Division lifted its position in shares of Transcat by 45.0% in the 2nd quarter. Central Pacific Bank Trust Division now owns 3,817 shares of the scientific and technical instruments company's stock worth $354,000 after purchasing an additional 1,184 shares during the period. Marshall Wace LLP bought a new stake in shares of Transcat during the 4th quarter valued at about $236,000. Finally, Balyasny Asset Management L.P. bought a new stake in shares of Transcat during the 4th quarter valued at about $247,000. 98.34% of the stock is owned by institutional investors.

Transcat Price Performance

Shares of NASDAQ:TRNS opened at $93.84 on Tuesday. Transcat, Inc. has a 1-year low of $50.23 and a 1-year high of $100.00. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.49 and a quick ratio of 2.11. The business has a fifty day moving average price of $90.13 and a 200-day moving average price of $81.07. The company has a market capitalization of $878.34 million, a PE ratio of 253.62 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 EPS for the quarter, beating analysts' consensus estimates of $0.38 by $0.13. The firm had revenue of $92.95 million for the quarter, compared to analysts' expectations of $86.55 million. Transcat had a net margin of 0.99% and a return on equity of 5.56%. As a group, equities analysts expect that Transcat, Inc. will post 1.74 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Christopher P. Gillette sold 504 shares of the firm's stock in a transaction on Friday, August 7th. The stock was sold at an average price of $94.23, for a total value of $47,491.92. Following the transaction, the director directly owned 200 shares of the company's stock, valued at approximately $18,846. This trade represents a 71.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Craig D. Cairns acquired 1,050 shares of the firm's stock in a transaction dated Thursday, August 6th. The stock was bought at an average cost of $93.97 per share, for a total transaction of $98,668.50. Following the purchase, the director directly owned 1,480 shares of the company's stock, valued at approximately $139,075.60. This trade represents 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 insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on TRNS. Zacks Research raised Transcat from a "strong sell" rating to a "hold" rating in a research report on Friday, May 15th. Northland Securities lowered Transcat from an "outperform" rating to a "market perform" rating and set a $95.00 price target on the stock. in a research report on Wednesday, August 5th. Wall Street Zen upgraded Transcat from a "sell" rating to a "hold" rating in a research report on Sunday, June 28th. Finally, Weiss Ratings raised Transcat from a "sell (d)" rating to a "sell (d+)" rating in a research note on Thursday, May 28th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $105.50.

About Transcat

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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