Punch & Associates Investment Management Inc. Reduces Position in Distribution Solutions Group, Inc. $DSGR

Key Points

• Punch & Associates Investment Management Inc. has reduced its stake in Distribution Solutions Group, Inc. by 45.8%, now owning approximately 0.29% of the company worth $3.75 million.
• Despite Punch & Associates' reduction, other institutional investors such as Wells Fargo and Deutsche Bank have increased their stakes, indicating growing institutional interest in DSGR.
• Analysts have raised the price target for Distribution Solutions Group from $39.00 to $41.00, with a consensus average rating of "Buy" for the stock.

Punch & Associates Investment Management Inc. cut its holdings in shares of Distribution Solutions Group, Inc. (NASDAQ:DSGR - Free Report) by 45.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 133,976 shares of the company's stock after selling 113,010 shares during the quarter. Punch & Associates Investment Management Inc. owned approximately 0.29% of Distribution Solutions Group worth $3,751,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in DSGR. Wells Fargo & Company MN lifted its holdings in Distribution Solutions Group by 47.8% during the fourth quarter. Wells Fargo & Company MN now owns 5,055 shares of the company's stock valued at $174,000 after purchasing an additional 1,634 shares during the last quarter. Northern Trust Corp lifted its holdings in Distribution Solutions Group by 2.2% during the fourth quarter. Northern Trust Corp now owns 108,792 shares of the company's stock valued at $3,742,000 after purchasing an additional 2,359 shares during the last quarter. Bank of America Corp DE lifted its holdings in Distribution Solutions Group by 21.1% during the fourth quarter. Bank of America Corp DE now owns 11,946 shares of the company's stock valued at $411,000 after purchasing an additional 2,085 shares during the last quarter. Deutsche Bank AG lifted its holdings in Distribution Solutions Group by 53.8% during the fourth quarter. Deutsche Bank AG now owns 10,162 shares of the company's stock valued at $350,000 after purchasing an additional 3,555 shares during the last quarter. Finally, Millennium Management LLC purchased a new stake in Distribution Solutions Group during the fourth quarter valued at about $246,000. 91.64% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Barrington Research upped their price objective on shares of Distribution Solutions Group from $39.00 to $41.00 and gave the company an "outperform" rating in a report on Monday, August 25th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company has an average rating of "Buy" and an average target price of $41.00.

Distribution Solutions Group Trading Up 0.3%

Shares of DSGR opened at $31.98 on Friday. The business's 50-day moving average price is $30.42 and its 200-day moving average price is $28.51. Distribution Solutions Group, Inc. has a twelve month low of $21.87 and a twelve month high of $41.47. The stock has a market cap of $1.48 billion, a PE ratio of 355.33 and a beta of 0.56. The company has a quick ratio of 1.36, a current ratio of 2.59 and a debt-to-equity ratio of 1.04.

Distribution Solutions Group (NASDAQ:DSGR - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.01). Distribution Solutions Group had a net margin of 0.22% and a return on equity of 10.51%. The company had revenue of $502.44 million for the quarter, compared to the consensus estimate of $484.43 million. On average, equities analysts forecast that Distribution Solutions Group, Inc. will post 1.28 EPS for the current fiscal year.

Distribution Solutions Group Profile

Distribution Solutions Group, Inc, a specialty distribution company, engages in the provision of value-added distribution solutions in North America, Europe, Asia, South America, and the Middle East. The company provides its solutions to the maintenance, repair, and operations (MRO); original equipment manufacturer (OEM); and industrial technology markets.

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