Confluence Investment Management LLC increased its stake in Triangle Capital Corp. (NYSE:TCAP) by 3.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 437,921 shares of the company’s stock after buying an additional 16,577 shares during the period. Confluence Investment Management LLC’s holdings in Triangle Capital Corp. were worth $8,487,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of the company. Bank of Montreal Can purchased a new position in Triangle Capital Corp. during the second quarter valued at $4,070,000. BlackRock Group LTD boosted its position in Triangle Capital Corp. by 8.4% in the first quarter. BlackRock Group LTD now owns 156,007 shares of the company’s stock valued at $3,211,000 after buying an additional 12,035 shares during the last quarter. LGT Capital Partners LTD. purchased a new position in Triangle Capital Corp. during the second quarter valued at $2,720,000. Wealthsource Partners LLC purchased a new position in Triangle Capital Corp. during the first quarter valued at $317,000. Finally, Creative Planning boosted its position in Triangle Capital Corp. by 8.6% in the second quarter. Creative Planning now owns 6,575 shares of the company’s stock valued at $127,000 after buying an additional 523 shares during the last quarter. Hedge funds and other institutional investors own 19.89% of the company’s stock.
Triangle Capital Corp. (NYSE:TCAP) traded down 1.18% on Monday, reaching $19.21. The company had a trading volume of 115,584 shares. Triangle Capital Corp. has a 12-month low of $14.91 and a 12-month high of $23.19. The stock has a market capitalization of $766.09 million, a PE ratio of 13.82 and a beta of 0.86. The stock’s 50 day moving average price is $19.68 and its 200-day moving average price is $19.49.
Triangle Capital Corp. (NYSE:TCAP) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.01. Triangle Capital Corp. had a net margin of 39.44% and a return on equity of 12.56%. The firm earned $28.40 million during the quarter. During the same period in the previous year, the firm earned $0.49 EPS. The company’s revenue was up 2.2% on a year-over-year basis. Equities analysts expect that Triangle Capital Corp. will post $1.69 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 21st. Stockholders of record on Wednesday, September 7th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 9.37%. The ex-dividend date was Friday, September 2nd. Triangle Capital Corp.’s payout ratio is 129.50%.
Several research firms have recently weighed in on TCAP. Jefferies Group reaffirmed a “buy” rating on shares of Triangle Capital Corp. in a report on Thursday, August 4th. Zacks Investment Research raised shares of Triangle Capital Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, August 9th. Finally, Raymond James Financial Inc. raised shares of Triangle Capital Corp. from an “underperform” rating to a “market perform” rating in a report on Wednesday, June 29th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $21.75.
About Triangle Capital Corp.
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.
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