Nationwide Fund Advisors raised its position in KLX Inc. (NASDAQ:KLXI) by 3.6% during the second quarter, Holdings Channel reports. The fund owned 128,306 shares of the company’s stock after buying an additional 4,443 shares during the period. Nationwide Fund Advisors owned about 0.24% of KLX worth $3,977,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. LS Investment Advisors LLC raised its stake in shares of KLX by 76.4% in the second quarter. LS Investment Advisors LLC now owns 3,218 shares of the company’s stock worth $100,000 after buying an additional 1,394 shares during the last quarter. Creative Planning raised its stake in shares of KLX by 0.3% in the second quarter. Creative Planning now owns 3,600 shares of the company’s stock worth $112,000 after buying an additional 10 shares during the last quarter. 1st Global Advisors Inc. raised its stake in shares of KLX by 3.4% in the second quarter. 1st Global Advisors Inc. now owns 7,047 shares of the company’s stock worth $218,000 after buying an additional 230 shares during the last quarter. KBC Group NV acquired a new stake in shares of KLX during the second quarter worth approximately $239,000. Finally, Barclays PLC raised its stake in shares of KLX by 1,026.2% in the first quarter. Barclays PLC now owns 9,145 shares of the company’s stock worth $293,000 after buying an additional 8,333 shares during the last quarter. 99.44% of the stock is owned by institutional investors.
KLX Inc. (NASDAQ:KLXI) traded down 0.99% during trading on Tuesday, hitting $35.08. The stock had a trading volume of 58,700 shares. KLX Inc. has a 52-week low of $25.33 and a 52-week high of $41.00. The stock’s market capitalization is $1.85 billion. The stock’s 50-day moving average is $35.35 and its 200-day moving average is $33.32.
KLX (NASDAQ:KLXI) last released its earnings results on Wednesday, August 24th. The company reported $0.49 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.22. The firm had revenue of $391.40 million for the quarter, compared to the consensus estimate of $402.30 million. KLX had a positive return on equity of 3.83% and a negative net margin of 26.66%. On average, analysts predict that KLX Inc. will post $0.92 earnings per share for the current fiscal year.
A number of brokerages recently commented on KLXI. KeyCorp raised KLX from a “sector weight” rating to an “overweight” rating and set a $40.00 price target for the company in a research note on Friday, June 17th. They noted that the move was a valuation call. Zacks Investment Research raised KLX from a “hold” rating to a “buy” rating and set a $41.00 price target for the company in a research note on Tuesday, August 23rd. Finally, Jefferies Group reissued a “hold” rating on shares of KLX in a research report on Friday, August 5th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $36.78.
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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