Olstein Capital Management Lowers stake in WESCO International (WCC)

WESCO International (WCC) : Olstein Capital Management reduced its stake in WESCO International by 23.94% during the most recent quarter end. The investment management company now holds a total of 216,290 shares of WESCO International which is valued at $12,198,756 after selling 68,060 shares in WESCO International , the firm said in a disclosure report filed with the SEC on Aug 9, 2016.WESCO International makes up approximately 1.56% of Olstein Capital Management’s portfolio.

Other Hedge Funds, Including , Tocqueville Asset Management reduced its stake in WCC by selling 57,026 shares or 15.66% in the most recent quarter. The Hedge Fund company now holds 307,215 shares of WCC which is valued at $17,124,164. WESCO International makes up approx 0.21% of Tocqueville Asset Management’s portfolio. Duncker Streett Co Inc sold out all of its stake in WCC during the most recent quarter. The investment firm sold 1,000 shares of WCC which is valued $53,480. First Manhattan Co sold out all of its stake in WCC during the most recent quarter. The investment firm sold 41 shares of WCC which is valued $2,235.

WESCO International closed down -0.06 points or -0.10% at $58.89 with 8,49,348 shares getting traded on Wednesday. Post opening the session at $58.69, the shares hit an intraday low of $58.26 and an intraday high of $59.87 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, WESCO International reported $1.02 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.97. The company had revenue of $1911.60 million for the quarter, compared to analysts expectations of $1874.11 million. The company’s revenue was down -.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.00 EPS.

Many Wall Street Analysts have commented on WESCO International. WESCO International was Resumed by Credit Suisse to “Outperform” on Jun 17, 2016. 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 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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