B. Metzler seel. Sohn & Co. Holding AG purchased a new position in ScanSource, Inc. (NASDAQ:SCSC - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 26,440 shares of the industrial products company's stock, valued at approximately $1,270,000. B. Metzler seel. Sohn & Co. Holding AG owned about 0.11% of ScanSource as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently modified their holdings of SCSC. Quest Partners LLC lifted its position in shares of ScanSource by 42.6% in the 3rd quarter. Quest Partners LLC now owns 1,323 shares of the industrial products company's stock valued at $64,000 after acquiring an additional 395 shares in the last quarter. Gladius Capital Management LP acquired a new position in ScanSource during the third quarter valued at $30,000. Empowered Funds LLC lifted its stake in ScanSource by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 129,713 shares of the industrial products company's stock worth $6,230,000 after acquiring an additional 6,566 shares in the last quarter. Royce & Associates LP boosted its position in ScanSource by 177.3% during the 3rd quarter. Royce & Associates LP now owns 21,432 shares of the industrial products company's stock worth $1,029,000 after acquiring an additional 13,703 shares during the period. Finally, KBC Group NV grew its stake in ScanSource by 59.9% during the 3rd quarter. KBC Group NV now owns 1,182 shares of the industrial products company's stock valued at $57,000 after acquiring an additional 443 shares in the last quarter. Institutional investors own 97.91% of the company's stock.
Insider Transactions at ScanSource
In related news, CEO Michael L. Baur sold 29,617 shares of the firm's stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $49.20, for a total value of $1,457,156.40. Following the transaction, the chief executive officer now directly owns 177,760 shares of the company's stock, valued at approximately $8,745,792. This trade represents a 14.28 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 53,010 shares of company stock worth $2,611,843 in the last 90 days. 4.20% of the stock is owned by insiders.
ScanSource Stock Up 2.4 %
Shares of NASDAQ:SCSC traded up $1.21 during midday trading on Friday, hitting $51.10. 200,702 shares of the stock were exchanged, compared to its average volume of 194,485. The business's fifty day simple moving average is $47.69 and its two-hundred day simple moving average is $47.24. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.27 and a current ratio of 2.03. ScanSource, Inc. has a 52-week low of $31.01 and a 52-week high of $53.76. The company has a market capitalization of $1.22 billion, a PE ratio of 16.38, a P/E/G ratio of 1.42 and a beta of 1.42.
ScanSource (NASDAQ:SCSC - Get Free Report) last announced its quarterly earnings results on Thursday, November 7th. The industrial products company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.07. The business had revenue of $775.58 million during the quarter, compared to analyst estimates of $774.90 million. ScanSource had a return on equity of 8.53% and a net margin of 2.49%. The firm's revenue was down 11.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.74 EPS. As a group, research analysts predict that ScanSource, Inc. will post 3.51 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
Separately, Raymond James cut shares of ScanSource from an "outperform" rating to a "market perform" rating in a report on Thursday, August 15th.
Read Our Latest Research Report on SCSC
ScanSource Profile
(
Free Report)
ScanSource, Inc engages in the distribution of technology products and solutions in the United States, Canada, and Brazil. It operates through two segments, Specialty Technology Solutions and Modern Communications & Cloud. The Specialty Technology Solutions segment provides a portfolio of solutions primarily for enterprise mobile computing, data capture, barcode printing, point of sale (POS), payments, networking, electronic physical security, cyber security, and other technologies.
Featured Stories
Before you consider ScanSource, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and ScanSource wasn't on the list.
While ScanSource currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With average gains of 150% since the start of 2023, now is the time to give these stocks a look and pump up your 2024 portfolio.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.