Keybank National Association OH decreased its stake in Anixter International Inc. (NYSE:AXE) by 20.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,912 shares of the technology company’s stock after selling 6,800 shares during the period. Keybank National Association OH’s holdings in Anixter International were worth $2,134,000 at the end of the most recent reporting period.
A number of other large investors have also recently modified their holdings of AXE. Tyers Asset Management LLC purchased a new stake in shares of Anixter International during the fourth quarter valued at about $118,000. Acrospire Investment Management LLC raised its stake in shares of Anixter International by 100.0% in the first quarter. Acrospire Investment Management LLC now owns 1,600 shares of the technology company’s stock valued at $127,000 after buying an additional 800 shares during the period. Flinton Capital Management LLC purchased a new stake in shares of Anixter International during the fourth quarter valued at about $143,000. Cantab Capital Partners LLP purchased a new stake in shares of Anixter International during the fourth quarter valued at about $186,000. Finally, Dubuque Bank & Trust Co. purchased a new stake in shares of Anixter International during the first quarter valued at about $245,000. 84.73% of the stock is owned by hedge funds and other institutional investors.
Anixter International Inc. (NYSE:AXE) traded up 0.59% during midday trading on Friday, hitting $76.40. The stock had a trading volume of 256,417 shares. The stock’s 50-day moving average is $79.32 and its 200-day moving average is $79.74. Anixter International Inc. has a 1-year low of $51.49 and a 1-year high of $88.00. The company has a market capitalization of $2.54 billion, a PE ratio of 20.04 and a beta of 1.99.
Anixter International (NYSE:AXE) last announced its quarterly earnings results on Tuesday, April 25th. The technology company reported $1.09 EPS for the quarter, beating the Zacks’ consensus estimate of $1.00 by $0.09. Anixter International had a net margin of 1.58% and a return on equity of 13.11%. The firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter last year, the firm earned $0.92 EPS. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. Equities research analysts forecast that Anixter International Inc. will post $5.40 EPS for the current year.
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A number of equities research analysts have recently weighed in on AXE shares. Imperial Capital lowered Anixter International from an “outperform” rating to an “in-line” rating and boosted their target price for the company from $72.00 to $88.00 in a research note on Thursday, February 2nd. Wells Fargo & Co started coverage on Anixter International in a research note on Tuesday, March 21st. They issued a “market perform” rating for the company. Finally, Zacks Investment Research raised Anixter International from a “hold” rating to a “buy” rating and set a $94.00 target price for the company in a research note on Friday, April 28th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $91.00.
In related news, VP William Standish sold 1,000 shares of the stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $78.60, for a total value of $78,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Robert J. Eck sold 5,000 shares of the stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $80.87, for a total transaction of $404,350.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 37,995 shares of company stock valued at $3,118,599. 14.60% of the stock is owned by insiders.
Anixter International Company 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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