Keybank National Association OH lowered its stake in Anixter International Inc. (NYSE:AXE) by 20.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 26,912 shares of the technology company’s stock after selling 6,800 shares during the period. Keybank National Association OH’s holdings in Anixter International were worth $2,134,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. Airain ltd increased its stake in shares of Anixter International by 4.2% in the first quarter. Airain ltd now owns 3,634 shares of the technology company’s stock valued at $288,000 after buying an additional 146 shares in the last quarter. Nine Chapters Capital Management LLC acquired a new stake in shares of Anixter International during the first quarter valued at $452,000. Stevens Capital Management LP acquired a new stake in shares of Anixter International during the first quarter valued at $1,014,000. Mutual of America Capital Management LLC increased its stake in shares of Anixter International by 0.9% in the first quarter. Mutual of America Capital Management LLC now owns 24,229 shares of the technology company’s stock valued at $1,921,000 after buying an additional 207 shares in the last quarter. Finally, State of Tennessee Treasury Department increased its stake in shares of Anixter International by 17.8% in the first quarter. State of Tennessee Treasury Department now owns 26,656 shares of the technology company’s stock valued at $2,114,000 after buying an additional 4,023 shares in the last quarter. Institutional investors and hedge funds own 84.73% of the company’s stock.
Shares of Anixter International Inc. (NYSE:AXE) traded up 0.59% during trading on Friday, reaching $76.40. The company’s stock had a trading volume of 256,417 shares. Anixter International Inc. has a 12-month low of $51.49 and a 12-month high of $88.00. The stock has a market cap of $2.54 billion, a P/E ratio of 20.04 and a beta of 1.99. The stock’s 50-day moving average is $79.32 and its 200-day moving average is $79.74.
Anixter International (NYSE:AXE) last issued its quarterly earnings results on Tuesday, April 25th. The technology company reported $1.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.00 by $0.09. Anixter International had a return on equity of 13.11% and a net margin of 1.58%. The firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.87 billion. During the same quarter in the previous year, the company posted $0.92 earnings per share. The company’s revenue was up 4.4% compared to the same quarter last year. Equities research analysts anticipate that Anixter International Inc. will post $5.40 earnings per share for the current fiscal year.
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AXE has been the subject of a number of recent research reports. Imperial Capital cut Anixter International from an “outperform” rating to an “in-line” rating and upped their target price for the stock from $72.00 to $88.00 in a report on Thursday, February 2nd. Wells Fargo & Co initiated coverage on Anixter International in a report on Tuesday, March 21st. They issued a “market perform” rating for the company. Finally, Zacks Investment Research cut Anixter International from a “buy” rating to a “hold” rating in a report on Monday, February 6th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Anixter International currently has an average rating of “Hold” and an average target price of $91.00.
In other Anixter International news, CEO Robert J. Eck sold 5,000 shares of Anixter International stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $80.87, for a total transaction of $404,350.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director F Philip Handy sold 20,000 shares of Anixter International stock in a transaction dated Wednesday, April 26th. The stock was sold at an average price of $83.97, for a total value of $1,679,400.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 37,995 shares of company stock valued at $3,118,599. Corporate insiders own 14.60% of the company’s stock.
Anixter International Company Profile
Anixter International Inc is engaged in the distribution of enterprise cabling and security solutions, electrical and electronic wire and cable products and utility power solutions. The Company operates through three segments: Network & Security Solutions (NSS), Electrical & Electronic Solutions (EES), and Utility Power Solutions (UPS).
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