KLX Inc. (KLXI) Stake Reduced by Creative Planning
Creative Planning decreased its stake in KLX Inc. (NASDAQ:KLXI) by 8.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,874 shares of the aerospace company’s stock after selling 277 shares during the period. Creative Planning’s holdings in KLX were worth $144,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Airain ltd acquired a new position in KLX during the first quarter valued at $1,106,000. Macquarie Group Ltd. increased its position in KLX by 15.6% in the first quarter. Macquarie Group Ltd. now owns 619,157 shares of the aerospace company’s stock valued at $27,676,000 after buying an additional 83,466 shares during the period. Schwab Charles Investment Management Inc. increased its position in KLX by 8.4% in the first quarter. Schwab Charles Investment Management Inc. now owns 350,471 shares of the aerospace company’s stock valued at $15,667,000 after buying an additional 27,141 shares during the period. Goldman Sachs Group Inc. increased its position in 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, Bank of New York Mellon Corp increased its position in KLX by 37.1% in the first quarter. Bank of New York Mellon Corp now owns 809,930 shares of the aerospace company’s stock valued at $36,203,000 after buying an additional 219,055 shares during the period.
KLX Inc. (NASDAQ:KLXI) traded up 1.81% during trading on Friday, hitting $50.52. The stock had a trading volume of 331,337 shares. The firm’s 50 day moving average is $51.14 and its 200 day moving average is $48.84. The firm has a market cap of $2.61 billion, a price-to-earnings ratio of 41.07 and a beta of 1.28. KLX Inc. has a 1-year low of $32.23 and a 1-year high of $54.40.
KLX (NASDAQ:KLXI) last issued its earnings results on Wednesday, May 24th. The aerospace company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.06. KLX had a return on equity of 3.99% and a net margin of 4.24%. The firm had revenue of $411.30 million for the quarter, compared to the consensus estimate of $409.95 million. On average, analysts anticipate that KLX Inc. will post $3.08 earnings per share for the current year.
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Several equities analysts recently weighed in on KLXI shares. Zacks Investment Research downgraded KLX from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 18th. Cowen and Company reiterated a “buy” rating and set a $52.00 target price on shares of KLX in a research report on Monday, July 17th. BidaskClub downgraded KLX from a “buy” rating to a “hold” rating in a research report on Tuesday, June 27th. TheStreet upgraded KLX from a “c+” rating to a “b-” rating in a research report on Wednesday, June 7th. Finally, Deutsche Bank AG increased their target price on KLX from $51.00 to $52.00 and gave the stock a “hold” rating in a research report on Wednesday, April 19th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. KLX currently 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 stock was sold at an average price of $47.70, for a total value of $116,721.90. Following the transaction, the insider now owns 21,444 shares in the company, valued at $1,022,878.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 3,163 shares of company stock worth $153,553 in the last 90 days. Corporate insiders own 1.77% of the company’s stock.
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).
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