The Manufacturers Life Insurance Company Has $572,000 Stock Holdings in ScanSource, Inc. (NASDAQ:SCSC)

The Manufacturers Life Insurance Company lifted its stake in ScanSource, Inc. (NASDAQ:SCSC) by 26.0% in the third quarter, according to its most recent filing 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 filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of SCSC. Pacer Advisors Inc. lifted its stake in ScanSource by 54.2% during the second quarter. Pacer Advisors Inc. now owns 2,319,469 shares of the industrial products company’s stock valued at $102,776,000 after buying an additional 815,240 shares in the last quarter. American Century Companies Inc. raised its holdings 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 during the period. Millennium Management LLC boosted its stake in ScanSource by 2,640.7% in the 2nd quarter. Millennium Management LLC now owns 136,266 shares of the industrial products company’s stock worth $6,038,000 after purchasing an additional 131,294 shares during the period. Dimensional Fund Advisors LP grew its position in ScanSource by 2.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,983,625 shares of the industrial products company’s stock worth $87,894,000 after purchasing an additional 39,533 shares in the last quarter. Finally, Janney Montgomery Scott LLC acquired a new stake in ScanSource during the 3rd quarter valued at $1,674,000. Hedge funds and other institutional investors own 97.91% of the company’s stock.

ScanSource Stock Performance

Shares of ScanSource stock 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 quick ratio of 1.27, a current ratio of 2.03 and a debt-to-equity ratio of 0.15. The stock has a market cap of $1.25 billion, a PE ratio of 16.84, a price-to-earnings-growth ratio of 1.51 and a beta of 1.44. The business has a fifty day simple moving average of $49.10 and a 200-day simple moving average of $47.63.

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

Insiders Place Their Bets

In other news, CEO Michael L. Baur sold 8,312 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $48.98, for a total value of $407,121.76. Following the transaction, the chief executive officer now directly owns 177,760 shares of the company’s stock, valued at approximately $8,706,684.80. This represents a 4.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold a total of 53,010 shares of company stock worth $2,611,843 in the last quarter. 4.20% of the stock is currently owned by corporate insiders.

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.