Hotchkis & Wiley Capital Management LLC Has $3.35 Million Stock Holdings in PC Connection, Inc. $CNXN

Key Points

• Hotchkis & Wiley Capital Management LLC increased its stake in PC Connection, Inc. by 8.9% in Q1, owning 53,620 shares valued at approximately $3.35 million.
• PC Connection announced a quarterly dividend of $0.15 per share, reflecting an annual yield of 0.9%, with the ex-dividend date set for August 12.
• Insider trading activity included Director Jack L. Ferguson selling 1,000 shares and CEO Timothy J. McGrath selling 5,440 shares, indicating slight decreases in their ownership positions.

Hotchkis & Wiley Capital Management LLC lifted its stake in PC Connection, Inc. (NASDAQ:CNXN - Free Report) by 8.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 53,620 shares of the company's stock after acquiring an additional 4,400 shares during the period. Hotchkis & Wiley Capital Management LLC owned approximately 0.21% of PC Connection worth $3,347,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of CNXN. MetLife Investment Management LLC lifted its position in PC Connection by 9.7% in the fourth quarter. MetLife Investment Management LLC now owns 7,082 shares of the company's stock worth $491,000 after purchasing an additional 624 shares during the period. Tower Research Capital LLC TRC lifted its position in PC Connection by 156.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,209 shares of the company's stock worth $292,000 after purchasing an additional 2,570 shares during the period. Hsbc Holdings PLC lifted its position in PC Connection by 33.7% in the fourth quarter. Hsbc Holdings PLC now owns 4,968 shares of the company's stock worth $341,000 after purchasing an additional 1,252 shares during the period. Price T Rowe Associates Inc. MD lifted its position in PC Connection by 12.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,087 shares of the company's stock worth $422,000 after purchasing an additional 652 shares during the period. Finally, Susquehanna Fundamental Investments LLC bought a new position in PC Connection in the fourth quarter worth $282,000. Institutional investors and hedge funds own 42.85% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen cut PC Connection from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd.

PC Connection Stock Performance

Shares of NASDAQ CNXN traded up $0.07 during midday trading on Friday, reaching $64.21. 76,314 shares of the company traded hands, compared to its average volume of 82,445. The firm has a market cap of $1.63 billion, a PE ratio of 19.58, a PEG ratio of 1.83 and a beta of 0.73. The stock's 50-day simple moving average is $64.36 and its 200-day simple moving average is $64.07. PC Connection, Inc. has a 12 month low of $56.72 and a 12 month high of $77.19.

PC Connection (NASDAQ:CNXN - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.91 by $0.06. The company had revenue of $759.69 million during the quarter, compared to analysts' expectations of $774.66 million. PC Connection had a return on equity of 9.74% and a net margin of 2.97%. On average, equities research analysts expect that PC Connection, Inc. will post 3.33 EPS for the current year.

PC Connection Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Tuesday, August 12th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.9%. PC Connection's dividend payout ratio (DPR) is presently 18.29%.

PC Connection Company Profile

PC Connection, Inc, together with its subsidiaries, provides a range of information technology (IT) solutions. The company operates through three segments: Business Solutions, Enterprise Solutions, and Public Sector Solutions. It offers IT products, such as computer systems, software and peripheral equipment, networking communications, and other products and accessories.