Emerald Acquisition Ltd. Acquires New Stake in KLX Inc. (KLXI)
Emerald Acquisition Ltd. acquired a new position in KLX Inc. (NASDAQ:KLXI) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 133,170 shares of the company’s stock, valued at approximately $4,129,000. Emerald Acquisition Ltd. owned 0.25% of KLX as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of the company. Creative Planning increased its position in KLX by 0.3% in the second quarter. Creative Planning now owns 3,600 shares of the company’s stock worth $112,000 after buying an additional 10 shares in the last quarter. Suntrust Banks Inc. increased its position in KLX by 0.7% in the second quarter. Suntrust Banks Inc. now owns 9,760 shares of the company’s stock worth $302,000 after buying an additional 71 shares in the last quarter. Arizona State Retirement System increased its position in KLX by 0.4% in the first quarter. Arizona State Retirement System now owns 25,185 shares of the company’s stock worth $809,000 after buying an additional 100 shares in the last quarter. State Treasurer State of Michigan increased its position in KLX by 0.5% in the second quarter. State Treasurer State of Michigan now owns 21,200 shares of the company’s stock worth $657,000 after buying an additional 100 shares in the last quarter. Finally, 1st Global Advisors Inc. increased its position in KLX by 3.4% in the second quarter. 1st Global Advisors Inc. now owns 7,047 shares of the company’s stock worth $218,000 after buying an additional 230 shares in the last quarter. Institutional investors own 99.44% of the company’s stock.
Shares of KLX Inc. (NASDAQ:KLXI) traded down 1.99% during midday trading on Tuesday, hitting $32.58. 353,996 shares of the stock were exchanged. KLX Inc. has a 1-year low of $25.33 and a 1-year high of $41.00. The stock’s market capitalization is $1.72 billion. The firm’s 50 day moving average is $34.91 and its 200-day moving average is $33.02.
KLX (NASDAQ:KLXI) last announced its earnings results on Wednesday, August 24th. The company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.22. KLX had a negative net margin of 26.66% and a positive return on equity of 3.83%. The business earned $391.40 million during the quarter, compared to the consensus estimate of $402.30 million. On average, analysts predict that KLX Inc. will post $0.92 EPS for the current year.
A number of research firms have recently commented on KLXI. Zacks Investment Research downgraded shares of KLX from a “buy” rating to a “hold” rating in a research note on Wednesday, May 25th. Jefferies Group restated a “hold” rating on shares of KLX in a research note on Friday, August 5th. Deutsche Bank AG dropped their target price on shares of KLX from $39.00 to $37.00 and set a “hold” rating on the stock in a report on Tuesday, May 24th. Finally, KeyCorp raised shares of KLX from a “sector weight” rating to an “overweight” rating and set a $40.00 target price on the stock in a report on Friday, June 17th. They noted that the move was a valuation call. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $36.78.
KLX Company Profile
KLX Inc (KLX) is the distributor and service provider of aerospace fasteners and consumables. The Company offers ranges of aerospace hardware and consumables and inventory management services across the world. The Company operates through two segments: Aerospace Solutions Group (ASG) and Energy Services Group (ESG).
Want to see what other hedge funds are holding KLXI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for KLX Inc. (NASDAQ:KLXI).
Receive News & Ratings for KLX Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KLX Inc. and related companies with MarketBeat.com's FREE daily email newsletter.