Advisors Asset Management Inc. reduced its stake in shares of Triangle Capital Corp. (NYSE:TCAP) by 1.4% during the third quarter, Holdings Channel reports. The firm owned 37,581 shares of the company’s stock after selling 532 shares during the period. Advisors Asset Management Inc. owned about 0.09% of Triangle Capital Corp. worth $740,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Muzinich & Co. Inc. raised its position in Triangle Capital Corp. by 102.9% in the third quarter. Muzinich & Co. Inc. now owns 496,901 shares of the company’s stock valued at $9,789,000 after buying an additional 252,022 shares during the last quarter. State of New Jersey Common Pension Fund D purchased a new position in Triangle Capital Corp. during the third quarter valued at $4,925,000. Bank of Montreal Can purchased a new position in Triangle Capital Corp. during the second quarter valued at $4,070,000. LGT Capital Partners LTD. purchased a new position in Triangle Capital Corp. during the second quarter valued at $2,720,000. Finally, Wells Fargo & Company MN raised its position in Triangle Capital Corp. by 19.6% in the third quarter. Wells Fargo & Company MN now owns 740,956 shares of the company’s stock valued at $14,597,000 after buying an additional 121,447 shares during the last quarter. 21.53% of the stock is currently owned by institutional investors.
Shares of Triangle Capital Corp. (NYSE:TCAP) traded up 1.11% during mid-day trading on Friday, reaching $19.20. 126,968 shares of the company’s stock traded hands. Triangle Capital Corp. has a 12 month low of $14.91 and a 12 month high of $23.19. The company has a market cap of $774.91 million, a price-to-earnings ratio of 18.30 and a beta of 0.85. The company has a 50 day moving average of $18.77 and a 200 day moving average of $19.18.
Triangle Capital Corp. (NYSE:TCAP) last released its quarterly earnings data on Wednesday, November 2nd. The company reported $0.42 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by $0.03. Triangle Capital Corp. had a net margin of 31.88% and a return on equity of 11.44%. The firm earned $27.40 million during the quarter, compared to analyst estimates of $29.12 million. During the same period in the prior year, the company earned $0.56 EPS. The business’s quarterly revenue was down 11.0% compared to the same quarter last year. Analysts expect that Triangle Capital Corp. will post $1.60 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 21st. Stockholders of record on Wednesday, December 7th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 9.38%. The ex-dividend date of this dividend is Monday, December 5th. Triangle Capital Corp.’s dividend payout ratio is currently 169.81%.
Several research analysts recently weighed in on TCAP shares. Jefferies Group reissued a “buy” rating on shares of Triangle Capital Corp. in a research note on Thursday, August 4th. Zacks Investment Research raised shares of Triangle Capital Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, August 9th. Hilliard Lyons started coverage on shares of Triangle Capital Corp. in a research note on Wednesday, September 28th. They set a “buy” rating and a $20.00 price objective on the stock. Finally, National Securities started coverage on shares of Triangle Capital Corp. in a research note on Monday, October 24th. They set a “buy” rating and a $22.00 price objective on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. Triangle Capital Corp. has an average rating of “Hold” and a consensus price target of $20.50.
Triangle Capital Corp. Company Profile
Triangle Capital Corporation is a specialty finance company. The Company provides customized financing to lower middle market companies located in the United States. The Company’s investment objective is to seek returns by generating current income from its debt investments and capital appreciation from its equity related investments.