Geode Capital Management LLC cut its stake in Distribution Solutions Group, Inc. (NASDAQ:DSGR – Free Report) by 5.1% in the third quarter, HoldingsChannel reports. The fund owned 255,506 shares of the company’s stock after selling 13,839 shares during the period. Geode Capital Management LLC’s holdings in Distribution Solutions Group were worth $9,842,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also bought and sold shares of the stock. Dimensional Fund Advisors LP increased its holdings in shares of Distribution Solutions Group by 1.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 915,208 shares of the company’s stock valued at $27,457,000 after purchasing an additional 14,059 shares in the last quarter. Schwartz Investment Counsel Inc. grew its position in Distribution Solutions Group by 20.6% during the third quarter. Schwartz Investment Counsel Inc. now owns 152,000 shares of the company’s stock valued at $5,854,000 after buying an additional 26,000 shares during the period. Renaissance Technologies LLC grew its position in Distribution Solutions Group by 12.5% during the second quarter. Renaissance Technologies LLC now owns 120,400 shares of the company’s stock valued at $3,612,000 after buying an additional 13,400 shares during the period. Bank of New York Mellon Corp increased its holdings in Distribution Solutions Group by 13.9% in the second quarter. Bank of New York Mellon Corp now owns 43,489 shares of the company’s stock valued at $1,305,000 after buying an additional 5,309 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Distribution Solutions Group by 13.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 21,536 shares of the company’s stock worth $829,000 after acquiring an additional 2,569 shares during the period. Hedge funds and other institutional investors own 91.64% of the company’s stock.
Analyst Ratings Changes
Separately, Barrington Research raised their target price on Distribution Solutions Group from $43.00 to $44.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th.
Distribution Solutions Group Trading Up 0.4 %
Shares of DSGR stock opened at $34.40 on Thursday. Distribution Solutions Group, Inc. has a 1-year low of $28.00 and a 1-year high of $41.47. The company has a market cap of $1.61 billion, a price-to-earnings ratio of 860.22 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. The stock has a 50 day simple moving average of $38.04 and a 200-day simple moving average of $35.79.
Distribution Solutions Group (NASDAQ:DSGR – Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.37 earnings per share 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 company had revenue of $468.02 million for the quarter, compared to analyst estimates of $469.80 million. During the same quarter in the prior year, the company posted $0.17 earnings per share. On average, equities research analysts expect that Distribution Solutions Group, Inc. will post 1.28 EPS for the current fiscal year.
About Distribution Solutions Group
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.
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