Polaris Capital Management buys $25.6 Million stake in WESCO International (WCC)

WESCO International (WCC) : Polaris Capital Management scooped up 265,700 additional shares in WESCO International during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 475,900 shares of WESCO International which is valued at $25.6 Million.WESCO International makes up approximately 2.29% of Polaris Capital Management’s portfolio.

Other Hedge Funds, Including , Caisse De Depot Et Placement Du Quebec sold out all of its stake in WCC during the most recent quarter. The investment firm sold 81,000 shares of WCC which is valued $4.4 Million.King Luther Capital Management Corp reduced its stake in WCC by selling 17,634 shares or 46.6% in the most recent quarter. The Hedge Fund company now holds 20,208 shares of WCC which is valued at $1.1 Million. WESCO International makes up approx 0.01% of King Luther Capital Management Corp’s portfolio. Thrivent Financial For Lutherans added WCC to its portfolio by purchasing 36,000 company shares during the most recent quarter which is valued at $1.9 Million. WESCO International makes up approx 0.01% of Thrivent Financial For Lutherans’s portfolio.New York State Common Retirement Fund boosted its stake in WCC in the latest quarter, The investment management firm added 49,100 additional shares and now holds a total of 194,400 shares of WESCO International which is valued at $11.2 Million. WESCO International makes up approx 0.02% of New York State Common Retirement Fund’s portfolio.

WESCO International opened for trading at $56.88 and hit $58.38 on the upside on Wednesday, eventually ending the session at $58.22, with a gain of 2.95% or 1.67 points. The heightened volatility saw the trading volume jump to 3,76,519 shares. Company has a market cap of $2,457 M.

On the company’s financial health, WESCO International reported $0.77 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $0.73. The company had revenue of $1776.00 million for the quarter, compared to analysts expectations of $1760.24 million. The company’s revenue was down -2.2 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.90 EPS.

Many Wall Street Analysts have commented on WESCO International. Company shares were Reiterated by UBS on May 12, 2016 to “Neutral”, Firm has raised the Price Target to $ 57 from a previous price target of $40 .WESCO International was Downgraded by Standpoint Research to ” Hold” on Apr 22, 2016. WESCO International was Initiated by Sterne Agee CRT to “Neutral” on Mar 22, 2016.

WESCO International Inc. (WESCO International) is a distributor of products and provider of supply chain management and logistics services used in industrial construction utility and commercial institutional and government (CIG) markets. The Company is a provider of electrical industrial and communications maintenance repair and operating (MRO) and original equipment manufacturers (OEM) products construction materials and advanced supply chain management and logistics services. The Company’s product categories include general electrical and industrial supplies wire cable and conduit data and broadband communications power distribution equipment lighting and lighting control systems control and automation motors and safety. It offers a portfolio of value-added capabilities which includes supply chain management logistics and transportation procurement warehousing and inventory management as well as kitting limited assembly of products and system installation.

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