Anixter International Inc. (AXE) Position Trimmed by Pinebridge Investments L.P.
Pinebridge Investments L.P. lowered its stake in Anixter International Inc. (NYSE:AXE) by 3.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 33,511 shares of the technology company’s stock after selling 1,177 shares during the period. Pinebridge Investments L.P. owned 0.10% of Anixter International worth $2,621,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in AXE. Bank of Montreal Can boosted its holdings in Anixter International by 7.3% in the first quarter. Bank of Montreal Can now owns 4,918 shares of the technology company’s stock valued at $390,000 after acquiring an additional 333 shares in the last quarter. Nationwide Fund Advisors boosted its holdings in Anixter International by 1.0% in the first quarter. Nationwide Fund Advisors now owns 32,274 shares of the technology company’s stock valued at $2,559,000 after acquiring an additional 308 shares in the last quarter. Great West Life Assurance Co. Can boosted its holdings in Anixter International by 6.5% in the first quarter. Great West Life Assurance Co. Can now owns 39,710 shares of the technology company’s stock valued at $3,147,000 after acquiring an additional 2,423 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Anixter International by 3.8% in the first quarter. Bank of New York Mellon Corp now owns 447,224 shares of the technology company’s stock valued at $35,466,000 after acquiring an additional 16,171 shares in the last quarter. Finally, Comerica Bank boosted its holdings in Anixter International by 4.5% in the first quarter. Comerica Bank now owns 32,035 shares of the technology company’s stock valued at $2,683,000 after acquiring an additional 1,388 shares in the last quarter. Institutional investors and hedge funds own 85.53% of the company’s stock.
A number of analysts have recently commented on AXE shares. Wells Fargo & Company restated a “market perform” rating and set a $82.00 target price (down previously from $89.00) on shares of Anixter International in a report on Wednesday, July 12th. Zacks Investment Research upgraded shares of Anixter International from a “sell” rating to a “hold” rating in a research note on Tuesday, August 29th. Wolfe Research initiated coverage on shares of Anixter International in a research note on Tuesday, July 11th. They issued an “outperform” rating and a $88.00 price target on the stock. Finally, BidaskClub cut shares of Anixter International from a “hold” rating to a “sell” rating in a research note on Monday, July 24th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. Anixter International currently has an average rating of “Hold” and an average price target of $86.00.
Anixter International Inc. (NYSE AXE) opened at 79.30 on Friday. The company has a market capitalization of $2.64 billion, a P/E ratio of 18.12 and a beta of 1.98. Anixter International Inc. has a 1-year low of $58.99 and a 1-year high of $88.00. The firm has a 50-day moving average price of $74.37 and a 200 day moving average price of $77.51.
Anixter International (NYSE:AXE) last posted its quarterly earnings data on Tuesday, July 25th. The technology company reported $1.36 EPS for the quarter, meeting the Zacks’ consensus estimate of $1.36. The business had revenue of $2 billion during the quarter, compared to analysts’ expectations of $2.01 billion. Anixter International had a return on equity of 13.09% and a net margin of 1.91%. The business’s revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.32 earnings per share. On average, equities analysts predict that Anixter International Inc. will post $5.35 EPS for the current year.
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In other Anixter International news, CEO Robert J. Eck sold 13,600 shares of the business’s stock in a transaction on Thursday, September 21st. The stock was sold at an average price of $80.00, for a total transaction of $1,088,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Samuel Zell acquired 526,277 shares of the stock in a transaction on Wednesday, July 26th. The shares were bought at an average cost of $81.34 per share, for a total transaction of $42,807,371.18. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 560,277 shares of company stock valued at $42,813,566 and sold 16,600 shares valued at $1,317,200. 14.70% of the stock is owned by insiders.
Anixter International Profile
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 operates through three segments: Network & Security Solutions (NSS), Electrical & Electronic Solutions (EES), and Utility Power Solutions (UPS).
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