Dimensional Fund Advisors LP Buys 39,533 Shares of ScanSource, Inc. (NASDAQ:SCSC)

Dimensional Fund Advisors LP raised its holdings in shares of ScanSource, Inc. (NASDAQ:SCSC - Free Report) by 2.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,983,625 shares of the industrial products company's stock after purchasing an additional 39,533 shares during the period. Dimensional Fund Advisors LP owned 8.03% of ScanSource worth $87,894,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Cornercap Investment Counsel Inc. bought a new position in shares of ScanSource during the second quarter valued at approximately $524,000. American Century Companies Inc. increased its position in shares of ScanSource by 75.5% during the second quarter. American Century Companies Inc. now owns 521,127 shares of the industrial products company's stock valued at $23,091,000 after acquiring an additional 224,160 shares in the last quarter. Quest Partners LLC bought a new stake in shares of ScanSource during the second quarter valued at approximately $41,000. Privium Fund Management UK Ltd bought a new stake in shares of ScanSource during the second quarter valued at approximately $319,000. Finally, Rhumbline Advisers increased its position in shares of ScanSource by 0.3% during the second quarter. Rhumbline Advisers now owns 85,720 shares of the industrial products company's stock valued at $3,798,000 after acquiring an additional 264 shares in the last quarter. Institutional investors own 97.91% of the company's stock.

Wall Street Analyst Weigh In

Separately, Raymond James downgraded shares of ScanSource from an "outperform" rating to a "market perform" rating in a research report on Thursday, August 15th.

Insider Transactions at ScanSource

In other news, CEO Michael L. Baur sold 24,093 shares of ScanSource stock in a transaction on Monday, July 1st. The shares were sold at an average price of $43.40, for a total transaction of $1,045,636.20. Following the transaction, the chief executive officer now owns 118,080 shares in the company, valued at approximately $5,124,672. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Michael L. Baur sold 24,093 shares of ScanSource stock in a transaction on Monday, July 1st. The shares were sold at an average price of $43.40, for a total transaction of $1,045,636.20. Following the transaction, the chief executive officer now owns 118,080 shares in the company, valued at approximately $5,124,672. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael L. Baur sold 6,160 shares of ScanSource stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $43.67, for a total transaction of $269,007.20. Following the transaction, the chief executive officer now owns 118,080 shares in the company, valued at approximately $5,156,553.60. The disclosure for this sale can be found here. Insiders have sold 91,151 shares of company stock worth $3,914,760 in the last 90 days. 4.56% of the stock is currently owned by insiders.

ScanSource Stock Performance

SCSC stock traded up $0.57 on Thursday, hitting $48.15. The company had a trading volume of 186,471 shares, compared to its average volume of 219,652. ScanSource, Inc. has a 12-month low of $27.86 and a 12-month high of $53.28. The company has a current ratio of 2.10, a quick ratio of 1.33 and a debt-to-equity ratio of 0.15. The stock's 50-day simple moving average is $48.19 and its 200 day simple moving average is $45.71. The stock has a market cap of $1.19 billion, a price-to-earnings ratio of 15.29, a P/E/G ratio of 1.47 and a beta of 1.41.

ScanSource (NASDAQ:SCSC - Get Free Report) last issued its earnings results on Tuesday, August 27th. The industrial products company reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.93 by ($0.13). ScanSource had a return on equity of 8.32% and a net margin of 2.36%. The company had revenue of $746.11 million during the quarter, compared to analysts' expectations of $838.60 million. During the same quarter in the prior year, the business posted $0.76 EPS. The company's revenue for the quarter was down 21.2% compared to the same quarter last year. As a group, equities research analysts expect that ScanSource, Inc. will post 3.24 earnings per share for the current fiscal year.

ScanSource Company Profile

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.