Voya Investment Management LLC Buys 21,932 Shares of Anixter International Inc. (AXE)
Voya Investment Management LLC increased its stake in shares of Anixter International Inc. (NYSE:AXE) by 197.1% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 33,060 shares of the technology company’s stock after purchasing an additional 21,932 shares during the period. Voya Investment Management LLC owned 0.10% of Anixter International worth $2,585,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of AXE. UBS Asset Management Americas Inc. lifted its holdings in Anixter International by 15.6% during the 1st quarter. UBS Asset Management Americas Inc. now owns 20,753 shares of the technology company’s stock worth $1,646,000 after purchasing an additional 2,799 shares in the last quarter. Karp Capital Management Corp purchased a new stake in Anixter International during the 1st quarter worth about $476,000. Oxford Asset Management purchased a new stake in Anixter International during the 1st quarter worth about $360,000. Envestnet Asset Management Inc. lifted its holdings in Anixter International by 8.5% during the 1st quarter. Envestnet Asset Management Inc. now owns 6,247 shares of the technology company’s stock worth $493,000 after purchasing an additional 492 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in Anixter International by 28.1% during the 1st quarter. JPMorgan Chase & Co. now owns 147,251 shares of the technology company’s stock worth $11,677,000 after purchasing an additional 32,338 shares in the last quarter. 85.53% of the stock is currently owned by institutional investors and hedge funds.
AXE has been the topic of a number of recent research reports. Wolfe Research initiated coverage on Anixter International in a report on Tuesday, July 11th. They set an “outperform” rating and a $88.00 price objective on the stock. Wells Fargo & Company reaffirmed a “market perform” rating and issued a $82.00 price target (down previously from $89.00) on shares of Anixter International in a report on Wednesday, July 12th. Zacks Investment Research cut Anixter International from a “hold” rating to a “sell” rating in a report on Friday, July 14th. Robert W. Baird reaffirmed a “hold” rating and issued a $86.00 price target on shares of Anixter International in a report on Friday, September 1st. Finally, BidaskClub cut Anixter International from a “sell” rating to a “strong sell” rating in a report on Saturday, August 5th. 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 presently has an average rating of “Hold” and a consensus target price of $86.00.
In other Anixter International news, CEO Robert J. Eck sold 13,600 shares of the stock in a transaction that occurred on Thursday, September 21st. The stock was sold at an average price of $80.00, for a total value of $1,088,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Samuel Zell acquired 526,277 shares of the company’s stock in a transaction on Wednesday, July 26th. The stock was acquired at an average price of $81.34 per share, with a total value of $42,807,371.18. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 550,277 shares of company stock valued at $42,811,566 and sold 26,600 shares valued at $2,178,060. Company insiders own 14.70% of the company’s stock.
Anixter International Inc. (NYSE:AXE) opened at 86.15 on Monday. Anixter International Inc. has a 12 month low of $59.95 and a 12 month high of $88.30. The stock’s 50 day moving average price is $79.82 and its 200 day moving average price is $78.17. The company has a market capitalization of $2.86 billion, a price-to-earnings ratio of 19.68 and a beta of 2.03.
Anixter International (NYSE:AXE) last released its quarterly earnings data on Tuesday, July 25th. The technology company reported $1.36 earnings per share for the quarter, hitting the consensus estimate of $1.36. Anixter International had a return on equity of 13.09% and a net margin of 1.91%. The business had revenue of $2 billion during the quarter, compared to analysts’ expectations of $2.01 billion. During the same quarter last year, the business posted $1.32 EPS. The business’s revenue was up 2.3% on a year-over-year basis. Equities research analysts anticipate that Anixter International Inc. will post $5.35 earnings per share for the current fiscal year.
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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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