Diamond Hill Capital Management Inc. Grows Stake in Transcat, Inc. $TRNS

Diamond Hill Capital Management Inc. grew its holdings in Transcat, Inc. (NASDAQ:TRNS) by 600.4% during the fourth quarter, HoldingsChannel reports. The fund owned 43,802 shares of the scientific and technical instruments company’s stock after purchasing an additional 37,548 shares during the period. Diamond Hill Capital Management Inc.’s holdings in Transcat were worth $2,485,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in TRNS. State of Alaska Department of Revenue purchased a new position in shares of Transcat in the 3rd quarter valued at about $40,000. Lazard Asset Management LLC purchased a new position in shares of Transcat in the 2nd quarter valued at about $54,000. Tower Research Capital LLC TRC increased 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 valued at $97,000 after acquiring an additional 798 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Transcat by 42.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 1,530 shares of the scientific and technical instruments company’s stock valued at $112,000 after acquiring an additional 458 shares during the last quarter. Finally, Jones Financial Companies Lllp increased its holdings in shares of Transcat by 79.2% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,634 shares of the scientific and technical instruments company’s stock valued at $120,000 after acquiring an additional 722 shares during the last quarter. Hedge funds and other institutional investors own 98.34% of the company’s stock.

Transcat Stock Up 3.1%

Shares of NASDAQ TRNS opened at $73.02 on Friday. The stock has a market cap of $681.28 million, a PE ratio of 85.91 and a beta of 0.68. The company has a quick ratio of 1.85, a current ratio of 2.21 and a debt-to-equity ratio of 0.34. Transcat, Inc. has a 52-week low of $50.23 and a 52-week high of $93.76. The business has a 50-day moving average price of $75.71 and a 200 day moving average price of $67.79.

Wall Street Analysts Forecast Growth

A number of brokerages 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. Weiss Ratings reissued a “sell (d)” rating on shares of Transcat in a research report on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $105.33.

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.