Anixter International Inc. (AXE) Shares Sold by Pacad Investment Ltd.
Pacad Investment Ltd. decreased its holdings in shares of Anixter International Inc. (NYSE:AXE) by 13.3% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 1,300 shares of the technology company’s stock after selling 200 shares during the period. Pacad Investment Ltd.’s holdings in Anixter International were worth $102,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the company. BlackRock Inc. grew its stake in shares of Anixter International by 44,948.8% during the first quarter. BlackRock Inc. now owns 3,703,911 shares of the technology company’s stock worth $293,721,000 after acquiring an additional 3,695,689 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Anixter International by 12.0% during the first 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. Dimensional Fund Advisors LP grew its stake in shares of Anixter International by 5.1% during the first 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. Fiduciary Management Inc. WI grew its stake in shares of Anixter International by 6.7% during the first 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. Finally, State Street Corp grew its stake in shares of Anixter International by 2.6% during the first quarter. State Street Corp now owns 723,001 shares of the technology company’s stock worth $57,338,000 after acquiring an additional 18,287 shares during the last quarter. Institutional investors and hedge funds own 85.53% of the company’s stock.
Shares of Anixter International Inc. (NYSE:AXE) opened at 78.15 on Monday. The stock has a market cap of $2.60 billion, a price-to-earnings ratio of 17.85 and a beta of 1.98. The company has a 50-day moving average price of $74.37 and a 200-day moving average price of $77.65. Anixter International Inc. has a 12 month low of $58.90 and a 12 month high of $88.00.
Anixter International (NYSE:AXE) last released its quarterly earnings results on Tuesday, July 25th. The technology company reported $1.36 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.36. The firm had revenue of $2 billion for the quarter, compared to the consensus estimate of $2.01 billion. Anixter International had a return on equity of 13.09% and a net margin of 1.91%. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.32 EPS. On average, analysts expect that Anixter International Inc. will post $5.35 EPS for the current fiscal year.
A number of brokerages recently commented on AXE. BidaskClub upgraded Anixter International from a “sell” rating to a “hold” rating in a research report on Friday, June 16th. Zacks Investment Research upgraded Anixter International from a “sell” rating to a “hold” rating in a research report on Wednesday, August 23rd. Wells Fargo & Company reiterated a “market perform” rating and issued a $82.00 target price (down previously from $89.00) on shares of Anixter International in a research report on Wednesday, July 12th. Finally, Wolfe Research began coverage on Anixter International in a research report on Tuesday, July 11th. They issued an “outperform” rating and a $88.00 target price on the stock. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. Anixter International presently has an average rating of “Hold” and a consensus price target of $86.00.
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In other news, Director Samuel Zell purchased 526,277 shares of the company’s stock in a transaction that occurred on Wednesday, July 26th. The shares were purchased at an average price of $81.34 per share, for a total transaction of $42,807,371.18. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP William Standish sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $76.95, for a total value of $76,950.00. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 560,277 shares of company stock worth $42,813,566 and have sold 3,000 shares worth $229,200. Company insiders own 14.70% of the company’s stock.
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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