Federated Hermes Inc. Makes New $436,000 Investment in inTEST Co. (NYSE:INTT)

Federated Hermes Inc. purchased a new stake in shares of inTEST Co. (NYSE:INTT) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 44,091 shares of the company’s stock, valued at approximately $436,000. Federated Hermes Inc. owned 0.35% of inTEST at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in INTT. American Century Companies Inc. acquired a new stake in inTEST during the 2nd quarter valued at $145,000. Ground Swell Capital LLC purchased a new stake in inTEST in the 2nd quarter worth about $112,000. Los Angeles Capital Management LLC acquired a new stake in inTEST during the 2nd quarter worth about $1,218,000. CM Management LLC boosted its position in inTEST by 37.3% during the 2nd quarter. CM Management LLC now owns 309,000 shares of the company’s stock worth $3,053,000 after acquiring an additional 84,000 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of inTEST by 118.4% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 30,905 shares of the company’s stock valued at $305,000 after purchasing an additional 16,752 shares during the period. Institutional investors and hedge funds own 63.18% of the company’s stock.

Insider Buying and Selling at inTEST

In other news, CEO Richard N. Jr. Grant sold 6,788 shares of the company’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $6.97, for a total transaction of $47,312.36. Following the completion of the sale, the chief executive officer now owns 164,929 shares in the company, valued at approximately $1,149,555.13. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 5.50% of the company’s stock.

inTEST Stock Down 4.6 %

Shares of inTEST stock opened at $6.46 on Tuesday. The stock has a 50-day simple moving average of $7.90 and a 200-day simple moving average of $9.79. inTEST Co. has a 52-week low of $6.28 and a 52-week high of $15.50. The firm has a market cap of $80.69 million, a price-to-earnings ratio of 9.94 and a beta of 1.92. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.24 and a quick ratio of 1.46.

inTEST (NYSE:INTT) last posted its earnings results on Friday, August 2nd. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.07). The business had revenue of $33.99 million during the quarter, compared to the consensus estimate of $34.80 million. inTEST had a return on equity of 7.64% and a net margin of 4.27%. On average, equities research analysts expect that inTEST Co. will post 0.35 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently commented on INTT. Northland Capmk cut shares of inTEST from a “strong-buy” rating to a “hold” rating in a report on Monday, August 5th. Northland Securities lowered shares of inTEST from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $15.00 to $10.00 in a research note on Monday, August 5th. Three analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, inTEST presently has a consensus rating of “Hold” and an average target price of $13.00.

inTEST Company Profile

inTEST Corporation provides test and process technology solutions for use in manufacturing and testing in automotive, defense/aerospace, industrial, life sciences, security, and semiconductor markets worldwide. The company operates through three segments: Electronic Test, Environmental Technologies, and Process Technologies.