KLX Inc (KLXI) Holdings Boosted by Russell Investments Group Ltd.
Russell Investments Group Ltd. raised its stake in shares of KLX Inc (NASDAQ:KLXI) by 23.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 128,999 shares of the aerospace company’s stock after acquiring an additional 24,637 shares during the period. Russell Investments Group Ltd. owned about 0.25% of KLX worth $9,278,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Advisors Preferred LLC lifted its stake in KLX by 137.5% during the 2nd quarter. Advisors Preferred LLC now owns 1,489 shares of the aerospace company’s stock valued at $107,000 after acquiring an additional 862 shares in the last quarter. Quantbot Technologies LP raised its stake in shares of KLX by 2,700.0% during the 1st quarter. Quantbot Technologies LP now owns 1,596 shares of the aerospace company’s stock worth $113,000 after purchasing an additional 1,539 shares during the period. Institutional & Family Asset Management LLC bought a new stake in shares of KLX during the 1st quarter worth $172,000. Cerebellum GP LLC bought a new stake in shares of KLX during the 2nd quarter worth $174,000. Finally, LPL Financial LLC raised its stake in shares of KLX by 45.9% during the 1st quarter. LPL Financial LLC now owns 4,414 shares of the aerospace company’s stock worth $314,000 after purchasing an additional 1,389 shares during the period. Institutional investors and hedge funds own 90.11% of the company’s stock.
KLXI has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded KLX from a “hold” rating to a “buy” rating and set a $83.00 target price on the stock in a research note on Wednesday, May 23rd. BidaskClub upgraded KLX from a “hold” rating to a “buy” rating in a research note on Thursday, June 28th. Finally, ValuEngine cut KLX from a “buy” rating to a “hold” rating in a research note on Tuesday. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $66.50.
KLX (NASDAQ:KLXI) last released its earnings results on Tuesday, August 28th. The aerospace company reported $1.31 EPS for the quarter, topping the Zacks’ consensus estimate of $1.08 by $0.23. The company had revenue of $527.20 million for the quarter, compared to analysts’ expectations of $501.00 million. KLX had a return on equity of 7.84% and a net margin of 4.20%. The business’s revenue for the quarter was up 22.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.73 EPS. sell-side analysts forecast that KLX Inc will post 4.09 EPS for the current fiscal year.
KLX Inc, together with its subsidiaries, provides aerospace fasteners, consumables, and logistics services worldwide. The Aerospace Solutions Group segment distributes bolts, clips, hinges, rings, screws, carbon-faced seals, gaskets, O-rings, and others; chemicals, sealants and adhesives, lubricants, paints, cleaners, and degreasers; Honeywell proprietary parts; bearings, tooling, electrical components, and clamps; and hydraulics, pneumatics, fluid connectors, filtration, electrical control systems seals, and compressors and engineered systems.
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