Anixter International Inc. (AXE) Shares Bought by Riverhead Capital Management LLC
Riverhead Capital Management LLC increased its stake in shares of Anixter International Inc. (NYSE:AXE) by 77.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,131 shares of the technology company’s stock after buying an additional 931 shares during the quarter. Riverhead Capital Management LLC’s holdings in Anixter International were worth $167,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. increased its position in shares of Anixter International by 44,948.8% in the 1st quarter. BlackRock Inc. now owns 3,703,911 shares of the technology company’s stock valued at $293,721,000 after acquiring an additional 3,695,689 shares during the period. Vanguard Group Inc. raised its stake in Anixter International by 12.0% in the 1st quarter. Vanguard Group Inc. now owns 2,823,375 shares of the technology company’s stock worth $223,894,000 after acquiring an additional 303,406 shares during the last quarter. Alliancebernstein L.P. raised its stake in Anixter International by 5.9% in the 2nd quarter. Alliancebernstein L.P. now owns 1,456,881 shares of the technology company’s stock worth $113,928,000 after acquiring an additional 81,578 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Anixter International by 5.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,215,481 shares of the technology company’s stock worth $96,386,000 after acquiring an additional 59,258 shares during the last quarter. Finally, Fiduciary Management Inc. WI raised its stake in Anixter International by 6.7% in the 1st quarter. Fiduciary Management Inc. WI now owns 1,196,538 shares of the technology company’s stock worth $94,885,000 after acquiring an additional 75,105 shares during the last quarter. 85.53% of the stock is currently owned by hedge funds and other institutional investors.
AXE has been the subject of a number of research reports. BidaskClub cut Anixter International from a “hold” rating to a “sell” rating in a research report on Monday, July 24th. Zacks Investment Research raised Anixter International from a “sell” rating to a “hold” rating in a report on Wednesday, August 23rd. Wells Fargo & Company reissued a “market perform” rating and issued a $82.00 price objective (down from $89.00) on shares of Anixter International in a report on Wednesday, July 12th. Wolfe Research began coverage on Anixter International in a research note on Tuesday, July 11th. They issued an “outperform” rating and a $88.00 price objective for the company. Finally, Robert W. Baird restated a “hold” rating and issued a $86.00 price objective on shares of Anixter International in a research note on Friday, September 1st. One analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $86.00.
In other news, VP William Standish sold 1,000 shares of Anixter International stock in a transaction on Monday, July 17th. The shares were sold at an average price of $77.55, for a total value of $77,550.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Samuel Zell bought 526,277 shares of the business’s stock in a transaction dated Wednesday, July 26th. The stock was acquired at an average cost of $81.34 per share, for a total transaction of $42,807,371.18. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 557,777 shares of company stock valued at $42,813,066 and sold 16,600 shares valued at $1,317,200. 14.70% of the stock is currently owned by insiders.
Shares of Anixter International Inc. (NYSE:AXE) opened at 85.00 on Monday. The firm has a market cap of $2.83 billion, a price-to-earnings ratio of 19.42 and a beta of 2.03. The stock has a 50 day moving average of $74.37 and a 200-day moving average of $77.51. Anixter International Inc. has a 1-year low of $58.99 and a 1-year high of $88.00.
Anixter International (NYSE:AXE) last released its quarterly earnings results on Tuesday, July 25th. The technology company reported $1.36 EPS for the quarter, hitting the consensus estimate of $1.36. The company had revenue of $2 billion for the quarter, compared to analyst estimates of $2.01 billion. Anixter International had a return on equity of 13.09% and a net margin of 1.91%. The firm’s revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.32 earnings per share. Equities analysts anticipate that Anixter International Inc. will post $5.35 EPS for the current fiscal year.
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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