Franklin Resources Inc. Buys 2,026 Shares of ScanSource, Inc. (NASDAQ:SCSC)

Franklin Resources Inc. increased its stake in shares of ScanSource, Inc. (NASDAQ:SCSC) by 9.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 22,577 shares of the industrial products company’s stock after purchasing an additional 2,026 shares during the quarter. Franklin Resources Inc. owned 0.09% of ScanSource worth $1,093,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of SCSC. Exchange Traded Concepts LLC increased its position in ScanSource by 1.1% during the third quarter. Exchange Traded Concepts LLC now owns 20,387 shares of the industrial products company’s stock valued at $979,000 after acquiring an additional 220 shares during the last quarter. Rhumbline Advisers grew its holdings in ScanSource by 0.3% during the 2nd quarter. Rhumbline Advisers now owns 85,720 shares of the industrial products company’s stock valued at $3,798,000 after purchasing an additional 264 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in ScanSource by 3.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,440 shares of the industrial products company’s stock valued at $418,000 after purchasing an additional 308 shares during the last quarter. Martingale Asset Management L P raised its position in ScanSource by 0.6% in the 3rd quarter. Martingale Asset Management L P now owns 58,169 shares of the industrial products company’s stock worth $2,794,000 after purchasing an additional 340 shares during the period. Finally, Quest Partners LLC lifted its stake in ScanSource by 42.6% in the third quarter. Quest Partners LLC now owns 1,323 shares of the industrial products company’s stock worth $64,000 after purchasing an additional 395 shares during the last quarter. Hedge funds and other institutional investors own 97.91% of the company’s stock.

Insider Transactions at ScanSource

In other ScanSource news, CEO Michael L. Baur sold 8,312 shares of ScanSource stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $48.98, for a total transaction of $407,121.76. Following the completion of the sale, the chief executive officer now directly owns 177,760 shares of the company’s stock, valued at $8,706,684.80. The trade was a 4.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Brandy Ford sold 1,845 shares of the company’s stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $49.38, for a total value of $91,106.10. Following the completion of the sale, the chief accounting officer now owns 9,506 shares of the company’s stock, valued at $469,406.28. This represents a 16.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 54,855 shares of company stock worth $2,702,949. Insiders own 4.20% of the company’s stock.

ScanSource Trading Down 2.6 %

SCSC opened at $47.77 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.27 and a current ratio of 2.03. The stock’s 50 day moving average price is $49.27 and its 200-day moving average price is $47.78. ScanSource, Inc. has a one year low of $31.01 and a one year high of $53.90. The stock has a market cap of $1.14 billion, a price-to-earnings ratio of 15.31, a P/E/G ratio of 1.50 and a beta of 1.44.

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