Anixter International Inc. (NYSE:AXE) was up 5.8% during trading on Tuesday following a better than expected earnings announcement. The company traded as high as $88.85 and last traded at $85.15. Approximately 541,386 shares changed hands during trading, an increase of 148% from the average daily volume of 217,964 shares. The stock had previously closed at $80.50.

The technology company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.10. The firm had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.99 billion. Anixter International had a net margin of 1.86% and a return on equity of 12.52%. The business’s revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.31 earnings per share.

Several research analysts have recently issued reports on AXE shares. TheStreet upgraded shares of Anixter International from a “c+” rating to a “b-” rating in a research note on Wednesday, January 10th. ValuEngine upgraded shares of Anixter International from a “hold” rating to a “buy” rating in a research note on Friday, December 29th. Finally, Zacks Investment Research upgraded shares of Anixter International from a “sell” rating to a “hold” rating in a research note on Tuesday, December 26th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $86.00.

In related news, VP William Standish sold 1,758 shares of the stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $65.00, for a total transaction of $114,270.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Robert J. Eck sold 7,800 shares of the stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $80.12, for a total transaction of $624,936.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,732 shares of company stock worth $1,577,404. Insiders own 14.70% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Advisor Group Inc. lifted its position in Anixter International by 110.9% during the second 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 period. Teacher Retirement System of Texas bought a new position in Anixter International during the third quarter valued at approximately $209,000. Flinton Capital Management LLC lifted its position in Anixter International by 64.0% during the second quarter. Flinton Capital Management LLC now owns 2,788 shares of the technology company’s stock valued at $218,000 after purchasing an additional 1,088 shares during the period. Shelton Capital Management bought a new position in Anixter International during the second quarter valued at approximately $221,000. Finally, Affinity Investment Advisors LLC bought a new position in Anixter International during the third quarter valued at approximately $264,000. Institutional investors own 87.70% of the company’s stock.

The firm has a market capitalization of $2,650.14, a PE ratio of 19.85, a price-to-earnings-growth ratio of 1.40 and a beta of 2.03. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.17 and a current ratio of 2.07.

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About Anixter International

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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