BlackRock Advisors LLC cut its stake in KLX Inc. (NASDAQ:KLXI) by 8.7% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 642,526 shares of the company’s stock after selling 61,203 shares during the period. BlackRock Advisors LLC owned about 1.22% of KLX worth $19,919,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of the company. Barclays PLC raised its position in 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 period. Kingstown Capital Management L.P. raised its stake in KLX by 29.6% in the first quarter. Kingstown Capital Management L.P. now owns 1,750,000 shares of the company’s stock valued at $56,245,000 after buying an additional 400,000 shares during the last quarter. Metropolitan Life Insurance Co. NY raised its stake in KLX by 1.6% in the first quarter. Metropolitan Life Insurance Co. NY now owns 83,451 shares of the company’s stock valued at $2,682,000 after buying an additional 1,347 shares during the last quarter. Springbok Capital Management LLC raised its stake in KLX by 26.5% in the first quarter. Springbok Capital Management LLC now owns 18,500 shares of the company’s stock valued at $595,000 after buying an additional 3,870 shares during the last quarter. Finally, Meeder Asset Management Inc. raised its stake in KLX by 840.9% in the first quarter. Meeder Asset Management Inc. now owns 20,530 shares of the company’s stock valued at $659,000 after buying an additional 18,348 shares during the last quarter. Institutional investors own 99.44% of the company’s stock.
Shares of KLX Inc. (NASDAQ:KLXI) opened at 33.82 on Tuesday. The firm’s market cap is $1.78 billion. The company has a 50-day moving average of $35.11 and a 200 day moving average of $33.15. KLX Inc. has a 12-month low of $25.33 and a 12-month high of $41.00.
KLX (NASDAQ:KLXI) last issued its earnings results on Wednesday, August 24th. The company reported $0.49 EPS for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.22. KLX had a negative net margin of 26.66% and a positive return on equity of 3.83%. The business had revenue of $391.40 million for the quarter, compared to the consensus estimate of $402.30 million. Equities research analysts anticipate that KLX Inc. will post $0.92 earnings per share for the current fiscal year.
Several analysts have recently commented on KLXI shares. Zacks Investment Research lowered shares of KLX from a “buy” rating to a “hold” rating in a research report on Monday, August 29th. Jefferies Group reaffirmed a “hold” rating on shares of KLX in a research report on Friday, August 5th. Finally, KeyCorp raised shares of KLX from a “sector weight” rating to an “overweight” rating and set a $40.00 price target on the stock in a research report on Friday, June 17th. They noted that the move was a valuation call. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company currently 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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