Wells Fargo & Company MN increased its stake in shares of Triangle Capital Corp. (NYSE:TCAP) by 19.6% during the third quarter, according to its most recent filing with the SEC. The fund owned 740,956 shares of the company’s stock after buying an additional 121,447 shares during the period. Wells Fargo & Company MN owned approximately 1.86% of Triangle Capital Corp. worth $14,597,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in TCAP. Sumitomo Mitsui Asset Management Company LTD boosted its position in Triangle Capital Corp. by 38.4% in the third quarter. Sumitomo Mitsui Asset Management Company LTD now owns 86,096 shares of the company’s stock worth $1,696,000 after buying an additional 23,880 shares during the last quarter. Muzinich & Co. Inc. boosted 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 worth $9,789,000 after buying an additional 252,022 shares during the last quarter. IFC Holdings Incorporated FL boosted its position in Triangle Capital Corp. by 0.4% in the third quarter. IFC Holdings Incorporated FL now owns 21,001 shares of the company’s stock worth $414,000 after buying an additional 91 shares during the last quarter. State of New Jersey Common Pension Fund D acquired a new position in Triangle Capital Corp. during the third quarter worth about $4,925,000. Finally, WESPAC Advisors LLC acquired a new position in Triangle Capital Corp. during the third quarter worth about $769,000. Institutional investors and hedge funds own 21.53% of the company’s stock.
Shares of Triangle Capital Corp. (NYSE:TCAP) traded up 1.11% during trading on Friday, hitting $19.20. The company had a trading volume of 126,968 shares. Triangle Capital Corp. has a 1-year low of $14.91 and a 1-year high of $23.19. The firm has a market capitalization of $774.91 million, a P/E ratio of 18.30 and a beta of 0.85. The company’s 50 day moving average is $18.77 and its 200 day moving average is $19.18.
Triangle Capital Corp. (NYSE:TCAP) last announced its quarterly earnings results on Wednesday, November 2nd. The company reported $0.42 EPS for the quarter, missing the Zacks’ consensus estimate of $0.45 by $0.03. The company earned $27.40 million during the quarter, compared to analysts’ expectations of $29.12 million. Triangle Capital Corp. had a return on equity of 11.44% and a net margin of 31.88%. Triangle Capital Corp.’s revenue for the quarter was down 11.0% on a year-over-year basis. During the same period last year, the firm earned $0.56 earnings per share. Analysts anticipate that Triangle Capital Corp. will post $1.60 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 21st. Shareholders of record on Wednesday, December 7th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Monday, December 5th. This represents a $1.80 dividend on an annualized basis and a yield of 9.38%. Triangle Capital Corp.’s dividend payout ratio (DPR) is currently 169.81%.
TCAP has been the topic of a number of research analyst reports. Jefferies Group restated a “buy” rating on shares of Triangle Capital Corp. in a report on Thursday, August 4th. Hilliard Lyons cut Triangle Capital Corp. from a “buy” rating to a “neutral” rating in a report on Friday, November 4th. National Securities restated a “buy” rating and set a $22.00 price target on shares of Triangle Capital Corp. in a report on Monday, November 7th. Finally, Zacks Investment Research upgraded Triangle Capital Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, August 9th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. Triangle Capital Corp. presently has a consensus rating of “Hold” and an average price target of $20.50.
Triangle Capital Corp. Company Profile