New York State Teachers Retirement System Boosts Stake in Anixter International Inc. (NYSE:AXE)
New York State Teachers Retirement System boosted its position in Anixter International Inc. (NYSE:AXE) by 1.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 54,670 shares of the technology company’s stock after buying an additional 600 shares during the period. New York State Teachers Retirement System’s holdings in Anixter International were worth $4,335,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Anixter International by 12.0% in the first quarter. Vanguard Group Inc. now owns 2,823,375 shares of the technology company’s stock valued at $223,894,000 after buying an additional 303,406 shares during the last quarter. Norges Bank bought a new position in shares of Anixter International during the fourth quarter valued at $22,109,000. Morgan Stanley increased its position in shares of Anixter International by 119.1% in the first quarter. Morgan Stanley now owns 192,423 shares of the technology company’s stock valued at $15,258,000 after buying an additional 104,615 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of Anixter International by 58.7% in the first quarter. Ameriprise Financial Inc. now owns 232,747 shares of the technology company’s stock valued at $18,457,000 after buying an additional 86,110 shares during the last quarter. Finally, Pictet Asset Management Ltd. increased its position in shares of Anixter International by 69.8% in the first quarter. Pictet Asset Management Ltd. now owns 190,500 shares of the technology company’s stock valued at $15,107,000 after buying an additional 78,300 shares during the last quarter. Institutional investors and hedge funds own 87.04% of the company’s stock.
Shares of Anixter International Inc. (NYSE:AXE) traded up 0.39% on Friday, reaching $77.50. The company’s stock had a trading volume of 76,417 shares. The stock has a market cap of $2.58 billion, a PE ratio of 17.71 and a beta of 1.98. Anixter International Inc. has a 12-month low of $56.23 and a 12-month high of $88.00. The firm has a 50 day moving average price of $78.31 and a 200-day moving average price of $79.60.
Anixter International (NYSE:AXE) last released its quarterly earnings data on Tuesday, July 25th. The technology company reported $1.36 EPS for the quarter, hitting analysts’ consensus estimates of $1.36. The business had revenue of $2 billion during 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 business’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.32 EPS. Equities research analysts expect that Anixter International Inc. will post $5.35 EPS for the current year.
Several equities analysts have recently weighed in on AXE shares. Zacks Investment Research downgraded Anixter International from a “hold” rating to a “sell” rating in a report on Tuesday. BidaskClub upgraded Anixter International from a “sell” rating to a “hold” rating in a report on Friday, June 16th. Wolfe Research initiated coverage on Anixter International in a research report on Tuesday, July 11th. They set an “outperform” rating and a $88.00 price objective on the stock. Finally, Wells Fargo & Company reaffirmed a “market perform” rating and set a $82.00 price objective (down from $89.00) on shares of Anixter International in a research report on Wednesday, July 12th. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $86.00.
In related news, VP William Standish sold 1,000 shares of the company’s stock in a transaction on Monday, July 17th. The shares were sold at an average price of $77.55, for a total transaction of $77,550.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Samuel Zell purchased 526,277 shares of the firm’s stock in a transaction that occurred on Wednesday, July 26th. The shares were acquired at an average cost of $81.34 per share, with a total value of $42,807,371.18. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 556,277 shares of company stock valued at $42,812,881 and have sold 7,995 shares valued at $632,849. Corporate insiders own 14.70% of the company’s stock.
Anixter International Company Profile
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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