Diamond Hill Capital Management Inc. Acquires 643 Shares of Transcat, Inc. (NASDAQ:TRNS)

Diamond Hill Capital Management Inc. grew its holdings in Transcat, Inc. (NASDAQ:TRNS) by 11.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,143 shares of the scientific and technical instruments company’s stock after purchasing an additional 643 shares during the quarter. Diamond Hill Capital Management Inc.’s holdings in Transcat were worth $650,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. US Bancorp DE raised its stake in shares of Transcat by 15.6% during the 3rd quarter. US Bancorp DE now owns 1,547 shares of the scientific and technical instruments company’s stock worth $187,000 after acquiring an additional 209 shares in the last quarter. Principal Financial Group Inc. raised 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 acquiring an additional 373 shares in the last quarter. Royce & Associates LP raised its stake in shares of Transcat by 8.2% during the 3rd quarter. Royce & Associates LP now owns 511,701 shares of the scientific and technical instruments company’s stock worth $61,798,000 after acquiring an additional 38,774 shares in the last quarter. Moran Wealth Management LLC raised its stake in shares of Transcat by 50.3% during the 3rd quarter. Moran Wealth Management LLC now owns 3,793 shares of the scientific and technical instruments company’s stock worth $458,000 after acquiring an additional 1,269 shares in the last quarter. Finally, Intech Investment Management LLC bought a new position in shares of Transcat during the 3rd quarter worth approximately $235,000. Institutional investors own 98.34% of the company’s stock.

Wall Street Analyst Weigh In

TRNS has been the subject of several recent analyst reports. Oppenheimer lowered shares of Transcat from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 29th. StockNews.com lowered shares of Transcat from a “hold” rating to a “sell” rating in a research note on Wednesday, February 5th. Craig Hallum boosted their price objective 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. Northland Securities reissued a “market perform” rating and set a $85.00 target price (down previously from $110.00) on shares of Transcat in a research report on Wednesday, January 29th. Finally, HC Wainwright dropped their target price on shares of Transcat from $126.00 to $106.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $111.50.

Transcat Stock Up 2.1 %

NASDAQ:TRNS opened at $72.57 on Friday. The company has a market cap of $675.55 million, a PE ratio of 39.23 and a beta of 0.66. Transcat, Inc. has a twelve month low of $70.47 and a twelve month high of $147.12. The company has a current ratio of 2.42, a quick ratio of 1.98 and a debt-to-equity ratio of 0.14. The company’s 50 day moving average is $86.32 and its two-hundred day moving average is $104.53.

Transcat (NASDAQ:TRNS) last released its earnings results on Monday, January 27th. The scientific and technical instruments company reported $0.45 earnings per share for the quarter, topping the consensus estimate 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 in the prior year, the firm posted $0.56 EPS. Analysts anticipate that Transcat, Inc. will post 2.3 EPS for the current year.

Insider Activity

In other Transcat news, Director Craig D. Cairns acquired 1,200 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were acquired at an average cost of $77.02 per share, with a total value of $92,424.00. Following the acquisition, the director now directly owns 1,910 shares of the company’s stock, valued at approximately $147,108.20. The trade was a 169.01 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 2.30% of the company’s stock.

Transcat Company Profile

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.