Dimensional Fund Advisors LP Buys 39,533 Shares of ScanSource, Inc. (NASDAQ:SCSC)

Dimensional Fund Advisors LP increased its stake in ScanSource, Inc. (NASDAQ:SCSC) by 2.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,983,625 shares of the industrial products company’s stock after purchasing an additional 39,533 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.08% of ScanSource worth $87,894,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of ScanSource by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 3,479,683 shares of the industrial products company’s stock valued at $153,245,000 after buying an additional 40,264 shares in the last quarter. Wasatch Advisors LP grew its stake in shares of ScanSource by 67.9% in the first quarter. Wasatch Advisors LP now owns 1,055,882 shares of the industrial products company’s stock worth $46,501,000 after purchasing an additional 426,945 shares during 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 in the last quarter. Bank of New York Mellon Corp raised its holdings in ScanSource by 1.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 208,727 shares of the industrial products company’s stock worth $9,249,000 after purchasing an additional 3,167 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in ScanSource by 5.8% in the first quarter. Principal Financial Group Inc. now owns 144,168 shares of the industrial products company’s stock worth $6,349,000 after buying an additional 7,864 shares in the last quarter. 97.91% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CEO Michael L. Baur sold 7,798 shares of the company’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $43.81, for a total transaction of $341,630.38. Following the sale, the chief executive officer now directly owns 118,080 shares in the company, valued at approximately $5,173,084.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other ScanSource news, CEO Michael L. Baur sold 7,798 shares of ScanSource stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $43.81, for a total transaction of $341,630.38. Following the completion of the sale, the chief executive officer now directly owns 118,080 shares of the company’s stock, valued at approximately $5,173,084.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Michael L. Baur sold 6,160 shares of the stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $43.67, for a total value of $269,007.20. Following the transaction, the chief executive officer now directly owns 118,080 shares in the company, valued at approximately $5,156,553.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 91,151 shares of company stock worth $3,914,760. 4.56% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, Raymond James downgraded shares of ScanSource from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 15th.

ScanSource Price Performance

SCSC opened at $47.58 on Thursday. The company’s 50-day simple moving average is $48.16 and its two-hundred day simple moving average is $45.69. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.33 and a current ratio of 2.10. The stock has a market capitalization of $1.18 billion, a P/E ratio of 15.10, a P/E/G ratio of 1.47 and a beta of 1.41. ScanSource, Inc. has a 52-week low of $27.86 and a 52-week high of $53.28.

ScanSource (NASDAQ:SCSC) last announced its earnings results on Tuesday, August 27th. The industrial products company reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.93 by ($0.13). ScanSource had a net margin of 2.36% and a return on equity of 8.32%. The business had revenue of $746.11 million for the quarter, compared to the consensus estimate of $838.60 million. During the same quarter last year, the firm posted $0.76 earnings per share. The business’s quarterly revenue was down 21.2% compared to the same quarter last year. As a group, analysts predict that ScanSource, Inc. will post 3.24 EPS for the current year.

ScanSource Company 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.