Louisiana State Employees Retirement System Continues to Hold Position in Anixter International Inc. (AXE)
Louisiana State Employees Retirement System continued to hold its stake in Anixter International Inc. (NYSE:AXE) during the third quarter, Holdings Channel reports. The institutional investor owned 12,600 shares of the company’s stock at the end of the third quarter. Louisiana State Employees Retirement System’s holdings in Anixter International were worth $813,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in the stock. C M Bidwell & Associates Ltd. bought a new position in Anixter International during the second quarter worth approximately $149,000. PineBridge Investments L.P. raised its position in Anixter International by 4.0% in the second quarter. PineBridge Investments L.P. now owns 3,605 shares of the company’s stock worth $192,000 after buying an additional 140 shares during the period. Amalgamated Bank bought a new position in Anixter International during the second quarter worth approximately $211,000. Teacher Retirement System of Texas raised its position in Anixter International by 14.0% in the second quarter. Teacher Retirement System of Texas now owns 4,139 shares of the company’s stock worth $221,000 after buying an additional 509 shares during the period. Finally, Tower Research Capital LLC TRC bought a new position in Anixter International during the second quarter worth approximately $225,000. 83.87% of the stock is owned by institutional investors.
Shares of Anixter International Inc. (NYSE:AXE) traded up 1.11% during trading on Friday, hitting $82.00. The stock had a trading volume of 100,683 shares. Anixter International Inc. has a 1-year low of $37.60 and a 1-year high of $84.05. The firm’s 50 day moving average is $81.16 and its 200 day moving average is $66.97. The company has a market cap of $2.71 billion, a PE ratio of 30.98 and a beta of 2.00.
Anixter International (NYSE:AXE) last posted its earnings results on Tuesday, October 25th. The company reported $1.38 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.36 by $0.02. The company earned $1.96 billion during the quarter, compared to analyst estimates of $1.97 billion. Anixter International had a net margin of 1.17% and a return on equity of 12.19%. Anixter International’s revenue for the quarter was up 31.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.21 earnings per share. Equities research analysts anticipate that Anixter International Inc. will post $4.77 EPS for the current fiscal year.
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A number of equities analysts have commented on the company. Zacks Investment Research upgraded Anixter International from a “hold” rating to a “buy” rating and set a $92.00 price objective on the stock in a research note on Tuesday, December 27th. Longbow Research lowered Anixter International from a “buy” rating to a “neutral” rating in a research note on Friday, December 2nd. They noted that the move was a valuation call. TheStreet upgraded Anixter International from a “hold” rating to a “buy” rating in a research note on Friday, November 11th. Finally, Imperial Capital upgraded Anixter International from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $64.00 to $72.00 in a research note on Thursday, October 27th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $82.25.
In other news, VP William Standish sold 1,000 shares of the stock in a transaction dated Thursday, December 15th. The shares were sold at an average price of $82.05, for a total transaction of $82,050.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP William Galvin sold 20,312 shares of the stock in a transaction dated Tuesday, December 6th. The stock was sold at an average price of $80.01, for a total transaction of $1,625,163.12. The disclosure for this sale can be found here. Insiders own 14.60% of the company’s stock.
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 provides customers access to inventory management programs, over 270 warehouses and locations in approximately 300 cities across over 50 countries.
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