The Manufacturers Life Insurance Company Buys 2,459 Shares of ScanSource, Inc. (NASDAQ:SCSC)

The Manufacturers Life Insurance Company grew its position in ScanSource, Inc. (NASDAQ:SCSC) by 26.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,899 shares of the industrial products company’s stock after purchasing an additional 2,459 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in ScanSource were worth $572,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Dynamic Technology Lab Private Ltd raised its holdings in ScanSource by 97.4% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 33,939 shares of the industrial products company’s stock worth $1,630,000 after acquiring an additional 16,746 shares during the period. Pacer Advisors Inc. increased its stake in shares of ScanSource by 18.3% in the third quarter. Pacer Advisors Inc. now owns 2,744,702 shares of the industrial products company’s stock worth $131,828,000 after purchasing an additional 425,233 shares during the period. Intech Investment Management LLC acquired a new position in shares of ScanSource during the 3rd quarter worth about $337,000. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in ScanSource during the 3rd quarter valued at approximately $1,270,000. Finally, Quest Partners LLC grew its holdings in 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 buying an additional 395 shares during the last quarter. 97.91% of the stock is currently owned by institutional investors and hedge funds.

ScanSource Stock Performance

Shares of NASDAQ SCSC opened at $52.53 on Friday. ScanSource, Inc. has a 12 month low of $31.01 and a 12 month high of $53.82. The company has a market cap of $1.25 billion, a P/E ratio of 16.84, a P/E/G ratio of 1.51 and a beta of 1.44. The business’s 50 day moving average is $49.10 and its two-hundred day moving average is $47.63. The company has a quick ratio of 1.27, a current ratio of 2.03 and a debt-to-equity ratio of 0.15.

ScanSource (NASDAQ:SCSC) last released its earnings results on Thursday, November 7th. The industrial products company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.77 by $0.07. The firm had revenue of $775.58 million during the quarter, compared to analysts’ expectations of $774.90 million. ScanSource had a net margin of 2.49% and a return on equity of 8.53%. The business’s quarterly revenue was down 11.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.74 EPS. On average, equities analysts expect that ScanSource, Inc. will post 3.51 EPS for the current year.

Insider Activity at ScanSource

In other ScanSource news, CEO Michael L. Baur sold 8,312 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $48.98, for a total value of $407,121.76. Following the completion of the transaction, the chief executive officer now owns 177,760 shares of the company’s stock, valued at $8,706,684.80. This represents a 4.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Over the last 90 days, insiders sold 53,010 shares of company stock worth $2,611,843. Company insiders own 4.20% of the company’s stock.

ScanSource 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.