State of New Jersey Common Pension Fund D Holds Stake in Triangle Capital Corporation (NYSE:TCAP)
State of New Jersey Common Pension Fund D held its position in shares of Triangle Capital Corporation (NYSE:TCAP) during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 400,000 shares of the credit services provider’s stock at the end of the second quarter. State of New Jersey Common Pension Fund D’s holdings in Triangle Capital Corporation were worth $7,048,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Trust Co. of Vermont acquired a new position in Triangle Capital Corporation during the first quarter worth approximately $106,000. Metropolitan Life Insurance Co. NY acquired a new position in Triangle Capital Corporation during the fourth quarter worth approximately $109,000. Wilbanks Smith & Thomas Asset Management LLC acquired a new position in Triangle Capital Corporation during the first quarter worth approximately $210,000. HL Financial Services LLC boosted its position in Triangle Capital Corporation by 2.7% in the first quarter. HL Financial Services LLC now owns 11,350 shares of the credit services provider’s stock worth $217,000 after buying an additional 300 shares in the last quarter. Finally, Sheaff Brock Investment Advisors LLC boosted its position in Triangle Capital Corporation by 8.1% in the first quarter. Sheaff Brock Investment Advisors LLC now owns 14,053 shares of the credit services provider’s stock worth $268,000 after buying an additional 1,048 shares in the last quarter. Institutional investors and hedge funds own 31.86% of the company’s stock.
Shares of Triangle Capital Corporation (TCAP) opened at 13.84 on Friday. Triangle Capital Corporation has a 12 month low of $13.45 and a 12 month high of $20.35. The stock has a market cap of $660.79 million, a price-to-earnings ratio of 28.77 and a beta of 0.90. The firm has a 50-day moving average price of $16.89 and a 200-day moving average price of $18.24.
Triangle Capital Corporation (NYSE:TCAP) last announced its quarterly earnings results on Wednesday, August 2nd. The credit services provider reported $0.41 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.42 by $0.01. The company had revenue of $31.20 million during the quarter, compared to analyst estimates of $33.25 million. Triangle Capital Corporation had a net margin of 16.92% and a return on equity of 10.51%. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.49 EPS. Equities analysts expect that Triangle Capital Corporation will post $1.67 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Wednesday, September 6th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Friday, September 1st. This represents a $1.80 dividend on an annualized basis and a dividend yield of 13.01%. Triangle Capital Corporation’s dividend payout ratio (DPR) is presently 346.16%.
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A number of research analysts recently commented on TCAP shares. ValuEngine cut Triangle Capital Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 30th. Jefferies Group LLC reiterated a “buy” rating and issued a $18.00 price objective (down from $23.00) on shares of Triangle Capital Corporation in a report on Wednesday. Aegis started coverage on Triangle Capital Corporation in a report on Monday, June 26th. They issued a “buy” rating on the stock. Hilliard Lyons upgraded Triangle Capital Corporation from a “neutral” rating to a “buy” rating and set a $19.00 price objective on the stock in a report on Monday, June 26th. Finally, Wunderlich started coverage on Triangle Capital Corporation in a report on Wednesday, May 17th. They issued a “buy” rating and a $23.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. Triangle Capital Corporation has an average rating of “Hold” and a consensus price target of $18.75.
In other Triangle Capital Corporation news, insider C. Robert Jr. Knox sold 3,000 shares of Triangle Capital Corporation stock in a transaction on Friday, June 23rd. The shares were sold at an average price of $17.72, for a total value of $53,160.00. Following the transaction, the insider now owns 75,716 shares in the company, valued at approximately $1,341,687.52. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 4.10% of the stock is owned by company insiders.
Triangle Capital Corporation Company Profile
Triangle Capital Corporation is an internally managed, non-diversified closed-end management investment company. The Company is a specialty finance company that provides customized financing to lower middle market companies located primarily in the United States. The Company’s investment objective is to seek attractive returns by generating current income from its debt investments and capital appreciation from its equity-related investments.
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