Punch & Associates Investment Management Inc. purchased a new stake in shares of Transcat, Inc. (NASDAQ:TRNS – Free Report) during the 2nd quarter, Holdings Channel reports. The fund purchased 80,087 shares of the scientific and technical instruments company’s stock, valued at approximately $7,430,000.
Several other large investors have also recently bought and sold shares of TRNS. BlackRock Inc. bought a new stake in Transcat in the 2nd quarter valued at $67,445,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in shares of Transcat in the 2nd quarter valued at approximately $37,106,000. Wellington Management Group LLP boosted its position in Transcat by 677.7% during the 4th quarter. Wellington Management Group LLP now owns 248,539 shares of the scientific and technical instruments company’s stock worth $14,100,000 after buying an additional 216,579 shares during the period. Bamco Inc. NY acquired a new stake in shares of Transcat in the second quarter valued at about $17,649,000. Finally, Osterweis Capital Management Inc. acquired a new stake in Transcat during the 2nd quarter worth about $12,320,000. Institutional investors own 98.34% of the company’s stock.
Insider Buying and Selling
In related news, Director Craig D. Cairns acquired 1,050 shares of the stock in a transaction on Thursday, August 6th. The stock was acquired at an average cost of $93.97 per share, for a total transaction of $98,668.50. Following the completion of the acquisition, the director directly owned 1,480 shares of the company’s stock, valued at approximately $139,075.60. This represents a 244.19% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Christopher P. Gillette sold 504 shares of Transcat stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $94.23, for a total value of $47,491.92. Following the sale, the director owned 200 shares in the company, valued at $18,846. This represents a 71.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.80% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
View Our Latest Stock Report on Transcat
Transcat Trading Up 1.7%
Shares of TRNS stock opened at $89.66 on Thursday. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.49 and a quick ratio of 2.11. Transcat, Inc. has a 1-year low of $50.23 and a 1-year high of $100.00. The stock has a market capitalization of $839.22 million, a PE ratio of 242.32 and a beta of 0.68. The business has a 50-day moving average of $90.10 and a 200 day moving average of $82.39.
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. Transcat had a net margin of 0.99% and a return on equity of 5.56%. The company had revenue of $92.95 million during the quarter, compared to analyst estimates of $86.55 million. As a group, sell-side analysts anticipate that Transcat, Inc. will post 1.74 earnings per share for the current year.
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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