Polaris Capital Management Lowers stake in WESCO International (WCC)

WESCO International (WCC) : Polaris Capital Management reduced its stake in WESCO International by 2.29% during the most recent quarter end. The investment management company now holds a total of 465,700 shares of WESCO International which is valued at $29,921,225 after selling 10,900 shares in WESCO International , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.WESCO International makes up approximately 2.21% of Polaris Capital Management’s portfolio.

Other Hedge Funds, Including , Point72 Asset Management sold out all of its stake in WCC during the most recent quarter. The investment firm sold 788,566 shares of WCC which is valued $50,665,366.Parkside Financial Bank Trust reduced its stake in WCC by selling 9 shares or 0.8% in the most recent quarter. The Hedge Fund company now holds 1,112 shares of WCC which is valued at $68,444. WESCO International makes up approx 0.03% of Parkside Financial Bank Trust’s portfolio. Diam Ltd. sold out all of its stake in WCC during the most recent quarter. The investment firm sold 14,827 shares of WCC which is valued $808,072.Bronfman E.l. Rothschild boosted its stake in WCC in the latest quarter, The investment management firm added 262 additional shares and now holds a total of 1,367 shares of WESCO International which is valued at $72,793. WESCO International makes up approx 0.01% of Bronfman E.l. Rothschild’s portfolio.

WESCO International closed down -0.2 points or -0.31% at $63.85 with 5,46,505 shares getting traded on Monday. Post opening the session at $64.1, the shares hit an intraday low of $63.75 and an intraday high of $64.35 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, WESCO International reported $1.05 EPS for the quarter, missing the analyst consensus estimate by $ -0.06 based on the information available during the earnings call on Oct 27, 2016. Analyst had a consensus of $1.11. The company had revenue of $1855.20 million for the quarter, compared to analysts expectations of $1909.57 million. The company’s revenue was down -3.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.28 EPS.

Many Wall Street Analysts have commented on WESCO International. WESCO International was Upgraded by Buckingham Research to ” Buy” on Nov 1, 2016. Macquarie Initiated WESCO International on Aug 26, 2016 to “Neutral”, Price Target of the shares are set at $64.WESCO International was Upgraded by Longbow to ” Buy” on Aug 24, 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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