KLX Inc. (KLXI) Stake Lowered by Rhumbline Advisers
Rhumbline Advisers decreased its stake in shares of KLX Inc. (NASDAQ:KLXI) by 7.3% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 114,292 shares of the aerospace company’s stock after selling 9,035 shares during the period. Rhumbline Advisers’ holdings in KLX were worth $8,122,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Wells Fargo & Company MN lifted its position in KLX by 3.8% during the 1st quarter. Wells Fargo & Company MN now owns 62,184 shares of the aerospace company’s stock worth $4,419,000 after buying an additional 2,279 shares in the last quarter. Xact Kapitalforvaltning AB acquired a new position in KLX during the 4th quarter worth about $315,000. We Are One Seven LLC acquired a new position in KLX during the 4th quarter worth about $223,000. Pier Capital LLC acquired a new position in KLX during the 4th quarter worth about $9,047,000. Finally, MetLife Investment Advisors LLC acquired a new position in KLX during the 4th quarter worth about $3,785,000. Institutional investors and hedge funds own 99.31% of the company’s stock.
Several brokerages recently issued reports on KLXI. TheStreet upgraded shares of KLX from a “c+” rating to a “b” rating in a research report on Monday, April 9th. Zacks Investment Research upgraded shares of KLX from a “sell” rating to a “buy” rating and set a $80.00 price target on the stock in a research report on Thursday, March 15th. BidaskClub downgraded shares of KLX from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 7th. SunTrust Banks reiterated a “buy” rating and set a $82.00 price target on shares of KLX in a research report on Monday, April 23rd. Finally, Jefferies Group upgraded shares of KLX from a “hold” rating to a “buy” rating in a research report on Wednesday, March 7th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $65.75.
KLX (NASDAQ:KLXI) last announced its quarterly earnings data on Tuesday, March 6th. The aerospace company reported $1.00 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.19. The firm had revenue of $442.20 million during the quarter, compared to analysts’ expectations of $450.87 million. KLX had a return on equity of 6.03% and a net margin of 3.07%. KLX’s quarterly revenue was up 18.4% compared to the same quarter last year. sell-side analysts expect that KLX Inc. will post 4.11 EPS for the current 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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