Diamond Hill Capital Management LLC Investment Advisor Purchases New Shares in Transcat, Inc. $TRNS

Diamond Hill Capital Management LLC Investment Advisor bought a new stake in shares of Transcat, Inc. (NASDAQ:TRNS) during the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 46,185 shares of the scientific and technical instruments company’s stock, valued at approximately $4,285,000.

A number of other institutional investors have also recently made changes to their positions in the business. Lazard Asset Management LLC bought a new stake in shares of Transcat in the 2nd quarter valued at approximately $54,000. Tower Research Capital LLC TRC boosted its holdings 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 increased its position in shares of Transcat by 45.0% during the 2nd quarter. Central Pacific Bank Trust Division now owns 3,817 shares of the scientific and technical instruments company’s stock valued at $354,000 after purchasing an additional 1,184 shares during the last quarter. Marshall Wace LLP bought a new position in shares of Transcat during the 4th quarter valued at approximately $236,000. Finally, Balyasny Asset Management L.P. bought a new position in shares of Transcat during the 4th quarter valued at approximately $247,000. Institutional investors own 98.34% of the company’s stock.

Insider Activity

In other news, Director Craig D. Cairns purchased 1,050 shares of the firm’s stock in a transaction on Thursday, August 6th. The stock was acquired at an average cost of $93.97 per share, with a total value of $98,668.50. Following the completion of the transaction, the director owned 1,480 shares in the company, valued at $139,075.60. This represents a 244.19% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Christopher P. Gillette sold 504 shares of the stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $94.23, for a total transaction of $47,491.92. Following the sale, the director directly owned 200 shares of the company’s stock, valued at $18,846. The trade was a 71.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.80% of the company’s stock.

Transcat Stock Performance

Shares of NASDAQ:TRNS opened at $93.84 on Tuesday. The firm has a market cap of $878.34 million, a PE ratio of 253.62 and a beta of 0.68. The firm’s 50 day simple moving average is $90.13 and its 200-day simple moving average is $81.07. Transcat, Inc. has a one year low of $50.23 and a one year high of $100.00. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.11 and a current ratio of 2.49.

Transcat (NASDAQ:TRNS) last issued its earnings results on Tuesday, August 4th. The scientific and technical instruments company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.13. Transcat had a return on equity of 5.56% and a net margin of 0.99%.The business had revenue of $92.95 million during the quarter, compared to analysts’ expectations of $86.55 million. As a group, equities analysts predict that Transcat, Inc. will post 1.74 EPS for the current year.

Analyst Upgrades and Downgrades

TRNS has been the subject of several analyst reports. Zacks Research upgraded shares of Transcat from a “strong sell” rating to a “hold” rating in a report on Friday, May 15th. Wall Street Zen upgraded shares of Transcat from a “sell” rating to a “hold” rating in a report on Sunday, June 28th. Weiss Ratings raised shares of Transcat from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, May 28th. Finally, Northland Securities downgraded 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. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $105.50.

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.