IndexIQ Advisors LLC Grows Position in Anixter International Inc. (AXE)
IndexIQ Advisors LLC boosted its holdings in Anixter International Inc. (NYSE:AXE) by 82.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,931 shares of the technology company’s stock after purchasing an additional 4,948 shares during the quarter. IndexIQ Advisors LLC’s holdings in Anixter International were worth $929,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in AXE. Advisor Group Inc. raised its position in Anixter International by 110.9% in the 2nd quarter. Advisor Group Inc. now owns 1,354 shares of the technology company’s stock valued at $106,000 after purchasing an additional 712 shares during the last quarter. SG Americas Securities LLC purchased a new position in Anixter International during the 2nd quarter worth $158,000. Riverhead Capital Management LLC raised its position in Anixter International by 77.6% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,131 shares of the technology company’s stock worth $167,000 after buying an additional 931 shares during the last quarter. Flinton Capital Management LLC raised its position in Anixter International by 64.0% during the 2nd quarter. Flinton Capital Management LLC now owns 2,788 shares of the technology company’s stock worth $218,000 after buying an additional 1,088 shares during the last quarter. Finally, Cigna Investments Inc. New purchased a new position in Anixter International during the 2nd quarter worth $220,000. Hedge funds and other institutional investors own 85.10% of the company’s stock.
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A number of brokerages have commented on AXE. Zacks Investment Research upgraded shares of Anixter International from a “sell” rating to a “hold” rating in a research report on Tuesday, August 29th. BidaskClub cut shares of Anixter International from a “hold” rating to a “sell” rating in a research note on Monday, July 24th. Finally, Robert W. Baird reaffirmed a “hold” rating and set a $86.00 price target on shares of Anixter International in a research note on Friday, September 1st. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $86.00.
In other news, VP William Standish sold 1,000 shares of the stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $76.95, for a total transaction of $76,950.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Robert J. Eck sold 2,600 shares of the stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $86.23, for a total transaction of $224,198.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have acquired 24,000 shares of company stock worth $4,195 and have sold 30,200 shares worth $2,488,458. 14.70% of the stock is owned by company insiders.
Shares of Anixter International Inc. (NYSE AXE) opened at $63.30 on Friday. The company has a market cap of $2,121.11, a PE ratio of 12.60, a P/E/G ratio of 1.24 and a beta of 2.02. Anixter International Inc. has a 12 month low of $62.90 and a 12 month high of $88.60. The company has a quick ratio of 1.17, a current ratio of 2.07 and a debt-to-equity ratio of 0.87.
Anixter International (NYSE:AXE) last issued its quarterly earnings data on Tuesday, October 24th. The technology company reported $1.30 EPS for the quarter, missing the Zacks’ consensus estimate of $1.51 by ($0.21). The business had revenue of $2.02 billion during the quarter, compared to analyst estimates of $2.06 billion. Anixter International had a net margin of 1.86% and a return on equity of 12.52%. Anixter International’s revenue was up 3.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.38 earnings per share. equities analysts anticipate that Anixter International Inc. will post 5.13 earnings per share for the current year.
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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