Thrivent Financial for Lutherans Cuts Holdings in ScanSource, Inc. (NASDAQ:SCSC)

Thrivent Financial for Lutherans lowered its stake in shares of ScanSource, Inc. (NASDAQ:SCSC) by 5.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 16,937 shares of the industrial products company’s stock after selling 915 shares during the quarter. Thrivent Financial for Lutherans owned 0.07% of ScanSource worth $804,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Raymond James Financial Inc. bought a new position in shares of ScanSource during the fourth quarter valued at about $5,687,000. JPMorgan Chase & Co. boosted its holdings in ScanSource by 31.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 377,080 shares of the industrial products company’s stock valued at $18,111,000 after acquiring an additional 91,069 shares during the period. Victory Capital Management Inc. grew its position in ScanSource by 142.2% during the 4th quarter. Victory Capital Management Inc. now owns 119,599 shares of the industrial products company’s stock worth $5,675,000 after acquiring an additional 70,228 shares during the last quarter. Barclays PLC increased its stake in ScanSource by 97.9% in the 3rd quarter. Barclays PLC now owns 54,346 shares of the industrial products company’s stock worth $2,610,000 after purchasing an additional 26,881 shares during the period. Finally, Jacobs Levy Equity Management Inc. increased its stake in ScanSource by 12.3% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 220,923 shares of the industrial products company’s stock worth $10,611,000 after purchasing an additional 24,264 shares during the period. 97.91% of the stock is owned by institutional investors.

Insider Activity

In related news, CFO Stephen Jones sold 2,000 shares of the firm’s stock in a transaction on Friday, March 21st. The stock was sold at an average price of $36.14, for a total value of $72,280.00. Following the transaction, the chief financial officer now directly owns 69,816 shares of the company’s stock, valued at approximately $2,523,150.24. This trade represents a 2.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael L. Baur sold 1,994 shares of ScanSource stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $38.00, for a total value of $75,772.00. Following the transaction, the chief executive officer now directly owns 142,760 shares in the company, valued at approximately $5,424,880. The trade was a 1.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,994 shares of company stock valued at $731,702 over the last three months. Insiders own 4.20% of the company’s stock.

ScanSource Trading Up 1.4 %

NASDAQ SCSC opened at $34.25 on Thursday. The stock has a market cap of $803.64 million, a P/E ratio of 13.54, a price-to-earnings-growth ratio of 1.14 and a beta of 1.41. ScanSource, Inc. has a fifty-two week low of $33.22 and a fifty-two week high of $53.90. The stock has a 50 day simple moving average of $38.33 and a two-hundred day simple moving average of $45.12. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.30 and a current ratio of 2.11.

ScanSource (NASDAQ:SCSC) last released its quarterly earnings results on Thursday, January 30th. The industrial products company reported $0.85 earnings per share for the quarter, missing the consensus estimate of $0.89 by ($0.04). ScanSource had a net margin of 2.08% and a return on equity of 8.55%. During the same period in the prior year, the business earned $0.85 EPS. On average, analysts forecast that ScanSource, Inc. will post 3.33 earnings per share for the current year.

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.