State of Tennessee Treasury Department continued to hold its position in shares of Anixter International Inc. (NYSE:AXE) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 26,656 shares of the technology company’s stock at the end of the second quarter. State of Tennessee Treasury Department owned approximately 0.08% of Anixter International worth $2,085,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quantbot Technologies LP purchased a new position in shares of Anixter International during the first quarter worth $144,000. SG Americas Securities LLC purchased a new position in shares of Anixter International during the second quarter worth $158,000. Cigna Investments Inc. New acquired a new stake in shares of Anixter International in the second quarter valued at $220,000. Invictus RG acquired a new stake in shares of Anixter International in the first quarter valued at $230,000. Finally, Dubuque Bank & Trust Co. raised its stake in shares of Anixter International by 9.0% in the second quarter. Dubuque Bank & Trust Co. now owns 3,369 shares of the technology company’s stock valued at $263,000 after acquiring an additional 279 shares in the last quarter. Institutional investors and hedge funds own 85.53% of the company’s stock.
Shares of Anixter International Inc. (NYSE:AXE) opened at 79.25 on Tuesday. Anixter International Inc. has a 52 week low of $58.90 and a 52 week high of $88.00. The firm has a market capitalization of $2.63 billion, a PE ratio of 18.11 and a beta of 1.98. The stock has a 50 day moving average price of $74.36 and a 200 day moving average price of $77.53.
Anixter International (NYSE:AXE) last announced its quarterly earnings results on Tuesday, July 25th. The technology company reported $1.36 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.36. Anixter International had a net margin of 1.91% and a return on equity of 13.09%. The firm had revenue of $2 billion during the quarter, compared to analysts’ expectations of $2.01 billion. During the same period in the prior year, the company earned $1.32 EPS. The firm’s revenue was up 2.3% on a year-over-year basis. Equities analysts forecast that Anixter International Inc. will post $5.35 earnings per share for the current fiscal year.
In related news, VP William Standish sold 1,000 shares of the company’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $74.70, for a total transaction of $74,700.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Samuel Zell purchased 526,277 shares of the firm’s stock in a transaction that occurred on Wednesday, July 26th. The shares were acquired at an average cost of $81.34 per share, with a total value of $42,807,371.18. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 560,277 shares of company stock valued at $42,813,566 and have sold 3,000 shares valued at $229,200. 14.70% of the stock is currently owned by corporate insiders.
Several analysts have recently issued reports on the company. Zacks Investment Research upgraded Anixter International from a “sell” rating to a “hold” rating in a research note on Monday, September 11th. Robert W. Baird reiterated a “hold” rating and issued a $86.00 price objective on shares of Anixter International in a research note on Friday, September 1st. BidaskClub cut Anixter International from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 5th. Wells Fargo & Company reiterated a “market perform” rating and issued a $82.00 price objective (down from $89.00) on shares of Anixter International in a research note on Wednesday, July 12th. Finally, Wolfe Research assumed coverage on Anixter International in a research note on Tuesday, July 11th. They issued an “outperform” rating and a $88.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. Anixter International presently has an average rating of “Hold” and an average price target of $86.00.
About Anixter International
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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