Bank of New York Mellon Corp Reduces Stock Position in ScanSource, Inc. (NASDAQ:SCSC)

Bank of New York Mellon Corp trimmed its stake in ScanSource, Inc. (NASDAQ:SCSC - Free Report) by 8.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 162,883 shares of the industrial products company's stock after selling 15,560 shares during the period. Bank of New York Mellon Corp owned approximately 0.69% of ScanSource worth $7,729,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SCSC. Pacer Advisors Inc. boosted its stake in ScanSource by 18.3% in the third quarter. Pacer Advisors Inc. now owns 2,744,702 shares of the industrial products company's stock valued at $131,828,000 after acquiring an additional 425,233 shares in the last quarter. Wasatch Advisors LP lifted its holdings in shares of ScanSource by 13.2% in the 3rd quarter. Wasatch Advisors LP now owns 1,097,992 shares of the industrial products company's stock valued at $52,737,000 after purchasing an additional 127,883 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of ScanSource by 31.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 377,080 shares of the industrial products company's stock valued at $18,111,000 after purchasing an additional 91,069 shares during the period. Jacobs Levy Equity Management Inc. grew its stake in ScanSource by 12.3% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 220,923 shares of the industrial products company's stock worth $10,611,000 after buying an additional 24,264 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC increased its position in ScanSource by 1.2% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 194,809 shares of the industrial products company's stock worth $9,357,000 after buying an additional 2,300 shares during the period. 97.91% of the stock is currently owned by institutional investors and hedge funds.

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Insider Activity at ScanSource

In other news, CEO Michael L. Baur sold 15,000 shares of ScanSource stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $38.91, for a total value of $583,650.00. Following the sale, the chief executive officer now owns 162,760 shares of the company's stock, valued at $6,332,991.60. The trade was a 8.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Brandy Ford sold 1,845 shares of the business's stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $49.38, for a total transaction of $91,106.10. Following the transaction, the chief accounting officer now owns 9,506 shares in the company, valued at approximately $469,406.28. This trade represents a 16.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,839 shares of company stock worth $750,528 in the last quarter. Company insiders own 4.20% of the company's stock.

ScanSource Stock Performance

Shares of SCSC stock traded up $0.47 during trading hours on Wednesday, hitting $37.18. The stock had a trading volume of 124,498 shares, compared to its average volume of 230,241. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.11 and a quick ratio of 1.30. The firm has a market capitalization of $872.46 million, a PE ratio of 14.70, a PEG ratio of 1.14 and a beta of 1.41. The stock's 50 day moving average is $41.40 and its 200 day moving average is $45.99. ScanSource, Inc. has a twelve month low of $35.05 and a twelve month high of $53.90.

ScanSource (NASDAQ:SCSC - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The industrial products company reported $0.85 earnings per share for the quarter, missing analysts' consensus estimates of $0.89 by ($0.04). ScanSource had a return on equity of 8.55% and a net margin of 2.08%. During the same quarter last year, the firm posted $0.85 EPS. As a group, research analysts forecast that ScanSource, Inc. will post 3.33 earnings per share for the current fiscal year.

About ScanSource

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.