Bank of America Corp DE Purchases 2,085 Shares of Distribution Solutions Group, Inc. (NASDAQ:DSGR)

Bank of America Corp DE grew its position in Distribution Solutions Group, Inc. (NASDAQ:DSGR) by 21.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,946 shares of the company’s stock after purchasing an additional 2,085 shares during the quarter. Bank of America Corp DE’s holdings in Distribution Solutions Group were worth $411,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. KLP Kapitalforvaltning AS bought a new position in Distribution Solutions Group during the fourth quarter worth $68,000. Wells Fargo & Company MN increased its holdings in Distribution Solutions Group by 47.8% in the 4th quarter. Wells Fargo & Company MN now owns 5,055 shares of the company’s stock valued at $174,000 after buying an additional 1,634 shares during the period. ExodusPoint Capital Management LP bought a new stake in Distribution Solutions Group in the 4th quarter valued at $331,000. Mariner LLC bought a new stake in Distribution Solutions Group in the 4th quarter valued at $384,000. Finally, Barclays PLC increased its holdings in Distribution Solutions Group by 8.9% in the 4th quarter. Barclays PLC now owns 18,513 shares of the company’s stock valued at $637,000 after buying an additional 1,506 shares during the period. Institutional investors own 91.64% of the company’s stock.

Distribution Solutions Group Trading Down 0.8%

NASDAQ:DSGR opened at $27.77 on Friday. Distribution Solutions Group, Inc. has a twelve month low of $21.87 and a twelve month high of $41.47. The company has a quick ratio of 1.55, a current ratio of 2.81 and a debt-to-equity ratio of 1.03. The business has a 50 day moving average price of $26.70 and a two-hundred day moving average price of $30.67. The company has a market cap of $1.29 billion, a P/E ratio of 694.42 and a beta of 0.60.

Distribution Solutions Group (NASDAQ:DSGR) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.05). The business had revenue of $478.03 million for the quarter, compared to analyst estimates of $497.17 million. Distribution Solutions Group had a net margin of 0.13% and a return on equity of 8.89%. As a group, analysts expect that Distribution Solutions Group, Inc. will post 1.28 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Barrington Research reduced their target price on shares of Distribution Solutions Group from $44.00 to $39.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 7th.

About Distribution Solutions Group

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.