KLX Inc. (NASDAQ:KLXI) Position Held by State of New Jersey Common Pension Fund D
State of New Jersey Common Pension Fund D maintained its stake in shares of KLX Inc. (NASDAQ:KLXI) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 187,500 shares of the aerospace company’s stock at the end of the second quarter. State of New Jersey Common Pension Fund D’s holdings in KLX were worth $9,375,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of KLXI. BlackRock Inc. raised its stake in shares of KLX by 16,238.1% in the first quarter. BlackRock Inc. now owns 6,303,731 shares of the aerospace company’s stock valued at $281,777,000 after buying an additional 6,265,148 shares during the period. Vanguard Group Inc. raised its stake in shares of KLX by 4.9% in the first quarter. Vanguard Group Inc. now owns 4,292,293 shares of the aerospace company’s stock valued at $191,865,000 after buying an additional 201,203 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of KLX by 36.0% in the first quarter. Dimensional Fund Advisors LP now owns 2,675,495 shares of the aerospace company’s stock valued at $119,593,000 after buying an additional 708,731 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of KLX by 62.7% in the first quarter. Goldman Sachs Group Inc. now owns 2,620,065 shares of the aerospace company’s stock valued at $117,117,000 after buying an additional 1,009,575 shares during the period. Finally, State Street Corp raised its stake in shares of KLX by 11.3% in the first quarter. State Street Corp now owns 2,167,821 shares of the aerospace company’s stock valued at $96,904,000 after buying an additional 219,261 shares during the period.
KLX Inc. (KLXI) opened at 49.62 on Friday. The firm’s 50 day moving average is $51.06 and its 200-day moving average is $48.82. KLX Inc. has a 52 week low of $32.23 and a 52 week high of $54.40. The company has a market cap of $2.57 billion, a P/E ratio of 40.34 and a beta of 1.28.
KLX (NASDAQ:KLXI) last released its quarterly earnings data on Wednesday, May 24th. The aerospace company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.06. The company had revenue of $411.30 million during the quarter, compared to analysts’ expectations of $409.95 million. KLX had a net margin of 4.24% and a return on equity of 3.99%. On average, analysts predict that KLX Inc. will post $3.08 earnings per share for the current fiscal year.
KLXI has been the subject of several research analyst reports. BidaskClub upgraded shares of KLX from a “hold” rating to a “buy” rating in a report on Saturday, July 8th. Zacks Investment Research upgraded shares of KLX from a “hold” rating to a “strong-buy” rating and set a $56.00 price objective for the company in a report on Saturday, July 1st. Deutsche Bank AG raised their price objective on shares of KLX from $51.00 to $52.00 and gave the stock a “hold” rating in a report on Wednesday, April 19th. Cowen and Company restated a “buy” rating and issued a $52.00 price objective on shares of KLX in a report on Monday, July 17th. Finally, TheStreet upgraded shares of KLX from a “c+” rating to a “b-” rating in a report on Wednesday, June 7th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $55.40.
In other KLX news, insider Roger Mark Franks sold 2,447 shares of the business’s stock in a transaction dated Friday, May 26th. The shares were sold at an average price of $47.70, for a total value of $116,721.90. Following the completion of the sale, the insider now directly owns 21,444 shares of the company’s stock, valued at approximately $1,022,878.80. The transaction was disclosed in a filing with the SEC, which is available through this link. Over the last three months, insiders sold 3,163 shares of company stock valued at $153,553. 1.77% of the stock is owned by corporate insiders.
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).
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