Diamond Hill Capital Management Inc. Sells 500 Shares of Transcat, Inc. (NASDAQ:TRNS)

Diamond Hill Capital Management Inc. reduced its stake in Transcat, Inc. (NASDAQ:TRNS) by 8.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,500 shares of the scientific and technical instruments company’s stock after selling 500 shares during the period. Diamond Hill Capital Management Inc. owned 0.06% of Transcat worth $658,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Oppenheimer Asset Management Inc. increased its holdings in shares of Transcat by 1.6% in the second quarter. Oppenheimer Asset Management Inc. now owns 10,562 shares of the scientific and technical instruments company’s stock valued at $1,264,000 after purchasing an additional 171 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new position in shares of Transcat in the second quarter valued at $40,000. Quest Partners LLC acquired a new position in shares of Transcat in the second quarter valued at $109,000. Anchor Capital Advisors LLC increased its holdings in shares of Transcat by 6.6% in the second quarter. Anchor Capital Advisors LLC now owns 6,284 shares of the scientific and technical instruments company’s stock valued at $752,000 after purchasing an additional 390 shares during the last quarter. Finally, Arizona State Retirement System increased its holdings in shares of Transcat by 5.3% in the second quarter. Arizona State Retirement System now owns 2,555 shares of the scientific and technical instruments company’s stock valued at $306,000 after purchasing an additional 129 shares during the last quarter. 98.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TRNS has been the topic of several research reports. Northland Securities downgraded shares of Transcat from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 22nd. Northland Capmk downgraded shares of Transcat from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 22nd. Craig Hallum decreased their price target on shares of Transcat from $150.00 to $138.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Oppenheimer upped their price target on shares of Transcat from $125.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, May 22nd. Finally, HC Wainwright restated a “buy” rating and issued a $156.00 price target on shares of Transcat in a research note on Tuesday, July 30th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $151.33.

Transcat Stock Down 0.1 %

Shares of Transcat stock opened at $123.24 on Monday. The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of 77.51 and a beta of 0.67. Transcat, Inc. has a 12-month low of $84.45 and a 12-month high of $147.12. The firm’s 50-day moving average price is $123.97 and its two-hundred day moving average price is $119.11.

Transcat (NASDAQ:TRNS) last announced its quarterly earnings data on Monday, July 29th. The scientific and technical instruments company reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.20. The firm had revenue of $66.70 million for the quarter, compared to the consensus estimate of $69.35 million. Transcat had a net margin of 5.69% and a return on equity of 8.48%. The business’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.38 earnings per share. On average, sell-side analysts expect that Transcat, Inc. will post 2.06 earnings per share for the current year.

Transcat 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.