Diamond Hill Capital Management Inc. Has $139.50 Million Holdings in WESCO International, Inc. (NYSE:WCC)

Diamond Hill Capital Management Inc. lowered its holdings in shares of WESCO International, Inc. (NYSE:WCC - Free Report) by 16.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 898,228 shares of the technology company's stock after selling 171,490 shares during the period. Diamond Hill Capital Management Inc. owned about 1.84% of WESCO International worth $139,495,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Bank of New York Mellon Corp boosted its stake in WESCO International by 88.2% during the first quarter. Bank of New York Mellon Corp now owns 758,786 shares of the technology company's stock worth $117,839,000 after buying an additional 355,570 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in WESCO International by 149.3% during the fourth quarter. Ameriprise Financial Inc. now owns 255,035 shares of the technology company's stock worth $46,148,000 after buying an additional 152,727 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in WESCO International by 62.9% during the fourth quarter. Russell Investments Group Ltd. now owns 215,002 shares of the technology company's stock worth $38,906,000 after buying an additional 83,031 shares in the last quarter. GAMMA Investing LLC boosted its stake in WESCO International by 19,737.1% during the first quarter. GAMMA Investing LLC now owns 74,389 shares of the technology company's stock worth $11,553,000 after buying an additional 74,014 shares in the last quarter. Finally, New York State Teachers Retirement System lifted its position in shares of WESCO International by 3.9% during the 1st quarter. New York State Teachers Retirement System now owns 25,756 shares of the technology company's stock worth $4,000,000 after buying an additional 968 shares during the period. Institutional investors and hedge funds own 93.76% of the company's stock.

WESCO International Stock Up 1.4%

NYSE WCC traded up $2.92 during trading hours on Friday, hitting $214.67. 652,243 shares of the company traded hands, compared to its average volume of 607,620. The business's 50-day moving average is $184.47 and its 200-day moving average is $175.17. WESCO International, Inc. has a twelve month low of $125.21 and a twelve month high of $216.17. The stock has a market capitalization of $10.48 billion, a price-to-earnings ratio of 16.24, a P/E/G ratio of 1.63 and a beta of 1.83. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.23 and a current ratio of 2.15.

WESCO International (NYSE:WCC - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The technology company reported $2.21 earnings per share for the quarter, missing the consensus estimate of $2.23 by ($0.02). The company had revenue of $5.34 billion during the quarter, compared to analyst estimates of $5.27 billion. WESCO International had a net margin of 3.30% and a return on equity of 13.40%. WESCO International's revenue was down .1% on a year-over-year basis. During the same period in the prior year, the firm earned $2.30 earnings per share. Sell-side analysts anticipate that WESCO International, Inc. will post 13.3 earnings per share for the current year.

WESCO International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were given a dividend of $0.4538 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $1.82 annualized dividend and a yield of 0.85%. WESCO International's dividend payout ratio is currently 13.77%.

Insider Buying and Selling at WESCO International

In other news, EVP Christine Ann Wolf sold 3,106 shares of the business's stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $177.14, for a total transaction of $550,196.84. Following the sale, the executive vice president directly owned 30,181 shares in the company, valued at approximately $5,346,262.34. The trade was a 9.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 3.30% of the company's stock.

Analyst Ratings Changes

WCC has been the subject of several analyst reports. Stephens cut shares of WESCO International from an "overweight" rating to an "equal weight" rating and lifted their price target for the stock from $190.00 to $200.00 in a research report on Wednesday, July 16th. JPMorgan Chase & Co. lowered their target price on shares of WESCO International from $210.00 to $180.00 and set an "overweight" rating for the company in a report on Tuesday, May 27th. KeyCorp upped their target price on shares of WESCO International from $180.00 to $210.00 and gave the company an "overweight" rating in a research report on Friday, June 13th. Oppenheimer decreased their price target on shares of WESCO International from $225.00 to $195.00 and set an "outperform" rating for the company in a report on Monday, May 5th. Finally, Loop Capital reduced their target price on WESCO International from $250.00 to $220.00 and set a "buy" rating on the stock in a report on Monday, May 12th. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $210.75.

WESCO International Profile

WESCO International, Inc provides business-to-business distribution, logistics services, and supply chain solutions in the United States, Canada, and internationally. It operates through three segments: Electrical & Electronic Solutions (EES), Communications & Security Solutions (CSS), and Utility and Broadband Solutions (UBS).