MetLife Investment Management LLC Cuts Stock Holdings in ScanSource, Inc. $SCSC

MetLife Investment Management LLC trimmed its position in shares of ScanSource, Inc. (NASDAQ:SCSC) by 2.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,616 shares of the industrial products company’s stock after selling 340 shares during the quarter. MetLife Investment Management LLC owned 0.06% of ScanSource worth $497,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of SCSC. Pzena Investment Management LLC boosted its holdings in ScanSource by 132.8% during the 1st quarter. Pzena Investment Management LLC now owns 942,068 shares of the industrial products company’s stock worth $32,040,000 after acquiring an additional 537,358 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its holdings in ScanSource by 61.2% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 336,456 shares of the industrial products company’s stock worth $11,443,000 after acquiring an additional 127,780 shares during the last quarter. LSV Asset Management boosted its holdings in ScanSource by 20.1% during the 1st quarter. LSV Asset Management now owns 503,185 shares of the industrial products company’s stock worth $17,113,000 after acquiring an additional 84,300 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in ScanSource during the 4th quarter worth $3,771,000. Finally, Nuveen LLC bought a new stake in shares of ScanSource during the 1st quarter worth $2,355,000. 97.91% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at ScanSource

In related news, EVP Rachel Hayden sold 752 shares of the business’s stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $43.57, for a total value of $32,764.64. Following the sale, the executive vice president directly owned 14,918 shares in the company, valued at approximately $649,977.26. The trade was a 4.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last quarter, insiders sold 10,415 shares of company stock valued at $439,848. Insiders own 4.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on SCSC shares. Wall Street Zen upgraded ScanSource from a “hold” rating to a “buy” rating in a research note on Saturday, July 12th. Zacks Research upgraded ScanSource from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 25th. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Strong Buy” and a consensus price target of $42.00.

ScanSource Trading Up 0.5%

Shares of ScanSource stock opened at $44.92 on Monday. ScanSource, Inc. has a 52-week low of $28.75 and a 52-week high of $53.90. The stock’s 50-day simple moving average is $42.01 and its 200 day simple moving average is $38.62. The stock has a market capitalization of $983.30 million, a P/E ratio of 14.92, a P/E/G ratio of 0.75 and a beta of 1.43. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.30 and a current ratio of 2.01.

ScanSource (NASDAQ:SCSC) last announced its quarterly earnings data on Thursday, August 21st. The industrial products company reported $1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.11. ScanSource had a return on equity of 9.38% and a net margin of 2.35%.The business had revenue of $812.89 million for the quarter, compared to analysts’ expectations of $776.21 million. During the same period in the previous year, the business posted $0.80 EPS. The firm’s quarterly revenue was up 8.9% compared to the same quarter last year. ScanSource has set its FY 2026 guidance at EPS. As a group, research analysts anticipate that ScanSource, Inc. will post 3.33 EPS 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.