The Manufacturers Life Insurance Company Invests $251,000 in Distribution Solutions Group, Inc. (NASDAQ:DSGR)

The Manufacturers Life Insurance Company acquired a new position in Distribution Solutions Group, Inc. (NASDAQ:DSGR) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 6,512 shares of the company’s stock, valued at approximately $251,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new stake in Distribution Solutions Group in the third quarter valued at approximately $150,000. Rhumbline Advisers raised its holdings in shares of Distribution Solutions Group by 11.1% during the second quarter. Rhumbline Advisers now owns 13,986 shares of the company’s stock valued at $420,000 after acquiring an additional 1,398 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Distribution Solutions Group by 13.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 21,536 shares of the company’s stock worth $829,000 after purchasing an additional 2,569 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Distribution Solutions Group by 13.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 43,489 shares of the company’s stock valued at $1,305,000 after acquiring an additional 5,309 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in Distribution Solutions Group by 12.5% in the 2nd quarter. Renaissance Technologies LLC now owns 120,400 shares of the company’s stock worth $3,612,000 after purchasing an additional 13,400 shares in the last quarter. Institutional investors and hedge funds own 91.64% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Barrington Research upped their price objective on shares of Distribution Solutions Group from $43.00 to $44.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th.

Distribution Solutions Group Stock Performance

NASDAQ DSGR opened at $39.16 on Tuesday. Distribution Solutions Group, Inc. has a 1-year low of $28.00 and a 1-year high of $41.47. The stock has a 50-day moving average of $39.00 and a two-hundred day moving average of $35.47. The company has a market cap of $1.83 billion, a P/E ratio of 979.00 and a beta of 0.94. The company has a debt-to-equity ratio of 1.03, a current ratio of 2.81 and a quick ratio of 1.55.

Distribution Solutions Group (NASDAQ:DSGR) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.03). Distribution Solutions Group had a return on equity of 8.89% and a net margin of 0.13%. The firm had revenue of $468.02 million during the quarter, compared to analysts’ expectations of $469.80 million. During the same quarter in the prior year, the firm earned $0.17 EPS. As a group, analysts anticipate that Distribution Solutions Group, Inc. will post 1.28 EPS for the current year.

Distribution Solutions Group Profile

Distribution Solutions Group, Inc, a specialty distribution company, engages in the provision of value-added distribution solutions in North America, Europe, Asia, South America, and the Middle East. The company provides its solutions to the maintenance, repair, and operations (MRO); original equipment manufacturer (OEM); and industrial technology markets.