Anixter International Inc. (AXE) Shares Sold by The Manufacturers Life Insurance Company
The Manufacturers Life Insurance Company lowered its stake in shares of Anixter International Inc. (NYSE:AXE) by 0.8% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 22,283 shares of the technology company’s stock after selling 182 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.07% of Anixter International worth $1,742,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Advisor Group Inc. lifted its stake in Anixter International by 110.9% during the 2nd quarter. Advisor Group Inc. now owns 1,354 shares of the technology company’s stock valued at $106,000 after acquiring an additional 712 shares during the period. SG Americas Securities LLC bought a new position in Anixter International during the 2nd quarter valued at about $158,000. Riverhead Capital Management LLC increased its position in shares of Anixter International by 77.6% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,131 shares of the technology company’s stock valued at $167,000 after purchasing an additional 931 shares during the last quarter. Flinton Capital Management LLC increased its position in shares of Anixter International by 64.0% during the 2nd 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 last quarter. Finally, Cigna Investments Inc. New purchased a new stake in shares of Anixter International during the 2nd quarter valued at about $220,000. Institutional investors and hedge funds own 85.10% of the company’s stock.
Shares of Anixter International Inc. (NYSE:AXE) opened at $66.85 on Tuesday. Anixter International Inc. has a 52-week low of $63.40 and a 52-week high of $88.60. The company has a market cap of $2,219.27, a PE ratio of 13.18, a PEG ratio of 1.30 and a beta of 2.02. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.17 and a current ratio of 2.07.
Anixter International (NYSE:AXE) last released its earnings results on Tuesday, October 24th. The technology company reported $1.30 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.51 by ($0.21). The firm had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $2.06 billion. Anixter International had a return on equity of 12.52% and a net margin of 1.86%. The company’s revenue was up 3.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.38 earnings per share. sell-side analysts expect that Anixter International Inc. will post 5.13 earnings per share for the current fiscal year.
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AXE has been the subject of several research reports. Wolfe Research initiated coverage on shares of Anixter International in a research report on Tuesday, July 11th. They set an “outperform” rating and a $88.00 price target for the company. Wells Fargo & Company reaffirmed a “market perform” rating and set a $82.00 price target (down previously from $89.00) on shares of Anixter International in a research report on Wednesday, July 12th. Zacks Investment Research lowered shares of Anixter International from a “hold” rating to a “sell” rating in a research report on Friday, July 14th. BidaskClub lowered shares of Anixter International from a “hold” rating to a “sell” rating in a research report on Monday, July 24th. Finally, Robert W. Baird reaffirmed a “hold” rating and set a $86.00 price target on shares of Anixter International in a research report on Friday, September 1st. Two research analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. Anixter International currently has a consensus rating of “Hold” and an average target price of $86.00.
In related news, VP William Standish sold 1,000 shares of the stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $86.20, for a total value of $86,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Robert J. Eck sold 13,600 shares of the stock in a transaction that occurred on Thursday, September 21st. The stock was sold at an average price of $80.00, for a total transaction of $1,088,000.00. The disclosure for this sale can be found here. Over the last three months, insiders purchased 24,000 shares of company stock valued at $4,195 and sold 30,200 shares valued at $2,488,458. Corporate 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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