Atlantic Investment Trims Its Stake In WESCO International, Inc. (WCC)

The decline in WESCO International, Inc. (NYSE:WCC)’s industrial performance was led by oil and gas, metals and mining, and OEM customers. Geographically speaking U.S. sales slid by 4%, while revenues from Canada declined by 12%. The company’s performance in the utility sector, however, was impressive. Sales grew by 6% during the quarter, marking the seventeenth consecutive growth quarter.

Professional money managers have a mixed outlook towards the company. Among the funds that we track, a total of 20 had an aggregate investment of $468.79 million at the end of March, a decrease from 25 firms with $369.87 million at the end of the previous quarter. The increase in the invested amount came despite an almost 8.3% slide in WESCO International, Inc. (NYSE:WCC)’s stock price during the first quarter. The two largest stockholders among the above mentioned funds are Blue Mountain Capital, which is led by Andrew Feldstein and Stephen Siderow and Joel Greenblatt‘s Gotham Asset Management. Their respective holdings amounted to 35.81 million shares valued at $88.53 million and about 1.10 million shares valued at $76.54 million.

Disclosure: None