Municipal Employees Retirement System of Michigan reduced its position in shares of KLX Inc. (NASDAQ:KLXI) by 17.8% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 19,830 shares of the aerospace company’s stock after selling 4,300 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in KLX were worth $992,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of KLXI. BlackRock Inc. boosted its position in KLX by 16,238.1% in the first quarter. BlackRock Inc. now owns 6,303,731 shares of the aerospace company’s stock worth $281,777,000 after buying an additional 6,265,148 shares during the last quarter. Vanguard Group Inc. boosted its position in KLX by 4.9% in the first quarter. Vanguard Group Inc. now owns 4,292,293 shares of the aerospace company’s stock worth $191,865,000 after buying an additional 201,203 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in KLX by 36.0% in the first quarter. Dimensional Fund Advisors LP now owns 2,675,495 shares of the aerospace company’s stock worth $119,593,000 after buying an additional 708,731 shares during the last quarter. Goldman Sachs Group Inc. boosted 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 worth $117,117,000 after buying an additional 1,009,575 shares during the last quarter. Finally, State Street Corp boosted its position in KLX by 11.3% in the first quarter. State Street Corp now owns 2,167,821 shares of the aerospace company’s stock worth $96,904,000 after buying an additional 219,261 shares during the last quarter.

Shares of KLX Inc. (NASDAQ KLXI) opened at 50.52 on Friday. KLX Inc. has a 12 month low of $32.23 and a 12 month high of $54.40. The firm has a market cap of $2.61 billion, a PE ratio of 41.07 and a beta of 1.28. The stock’s 50 day moving average is $51.14 and its 200 day moving average is $48.84.

KLX (NASDAQ:KLXI) last posted its quarterly earnings results on Wednesday, May 24th. The aerospace company reported $0.36 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 return on equity of 3.99% and a net margin of 4.24%. On average, analysts anticipate that KLX Inc. will post $3.08 earnings per share for the current fiscal year.

TRADEMARK VIOLATION NOTICE: This news story was originally posted by Daily Political and is owned by of Daily Political. If you are viewing this news story on another website, it was illegally copied and republished in violation of US & international trademark & copyright laws. The correct version of this news story can be accessed at https://www.dailypolitical.com/2017/08/12/klx-inc-nasdaqklxi-position-cut-by-municipal-employees-retirement-system-of-michigan.html.

A number of research analysts have commented on KLXI shares. BidaskClub raised shares of KLX from a “hold” rating to a “buy” rating in a research report on Saturday, July 8th. Zacks Investment Research raised shares of KLX from a “hold” rating to a “strong-buy” rating and set a $56.00 target price on the stock in a research report on Saturday, July 1st. Deutsche Bank AG upped their target price on shares of KLX from $51.00 to $52.00 and gave the company a “hold” rating in a research report on Wednesday, April 19th. Cowen and Company reaffirmed a “buy” rating and issued a $52.00 target price on shares of KLX in a research report on Monday, July 17th. Finally, TheStreet raised shares of KLX from a “c+” rating to a “b-” rating in a research report on Wednesday, June 7th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. KLX currently has an average rating of “Buy” and a consensus price target of $55.40.

In other 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 transaction of $116,721.90. Following the completion of the sale, the insider now owns 21,444 shares in the company, valued at approximately $1,022,878.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 3,163 shares of company stock valued at $153,553 in the last 90 days. 1.77% of the stock is owned by company insiders.

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).

Institutional Ownership by Quarter for KLX (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.