State of Alaska Department of Revenue Increases Stake in Anixter International Inc. (NYSE:AXE)
State of Alaska Department of Revenue increased its stake in shares of Anixter International Inc. (NYSE:AXE) by 78.4% during the second quarter, according to its most recent filing with the SEC. The fund owned 5,637 shares of the technology company’s stock after buying an additional 2,477 shares during the period. State of Alaska Department of Revenue’s holdings in Anixter International were worth $440,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in AXE. Acrospire Investment Management LLC boosted its position in Anixter International by 100.0% in the first quarter. Acrospire Investment Management LLC now owns 1,600 shares of the technology company’s stock valued at $127,000 after buying an additional 800 shares during the period. Quantbot Technologies LP bought a new position in Anixter International during the first quarter valued at $144,000. Invictus RG bought a new position in Anixter International during the first quarter valued at $230,000. Dubuque Bank & Trust Co. bought a new position in Anixter International during the first quarter valued at $245,000. Finally, Airain ltd boosted its position in Anixter International by 4.2% in the first quarter. Airain ltd now owns 3,634 shares of the technology company’s stock valued at $288,000 after buying an additional 146 shares during the period. Hedge funds and other institutional investors own 86.64% of the company’s stock.
Shares of Anixter International Inc. (NYSE:AXE) traded down 0.70% on Friday, reaching $71.05. 144,369 shares of the company’s stock were exchanged. The firm has a market cap of $2.36 billion, a PE ratio of 16.23 and a beta of 1.98. The company has a 50 day moving average price of $77.60 and a 200 day moving average price of $79.14. Anixter International Inc. has a one year low of $58.55 and a one year high of $88.00.
Anixter International (NYSE:AXE) last posted its quarterly earnings results on Tuesday, July 25th. The technology company reported $1.36 EPS for the quarter, hitting the Zacks’ consensus estimate of $1.36. Anixter International had a return on equity of 13.09% and a net margin of 1.91%. The company had revenue of $2 billion for the quarter, compared to analysts’ expectations of $2.01 billion. During the same period in the previous year, the firm earned $1.32 EPS. The firm’s revenue was up 2.3% compared to the same quarter last year. Analysts expect that Anixter International Inc. will post $5.35 EPS for the current fiscal year.
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Several research analysts recently weighed in on AXE shares. Zacks Investment Research upgraded shares of Anixter International from a “hold” rating to a “buy” rating and set a $94.00 price objective on the stock in a research report on Friday, April 28th. BidaskClub upgraded shares of Anixter International from a “sell” rating to a “hold” rating in a research report on Friday, June 16th. Wells Fargo & Company restated a “market perform” rating and issued a $82.00 price objective (down from $89.00) on shares of Anixter International in a research report on Wednesday, July 12th. Finally, Wolfe Research started coverage on shares of Anixter International in a research report on Tuesday, July 11th. They issued an “outperform” rating and a $88.00 price objective on the stock. Two investment 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. Anixter International presently has a consensus rating of “Hold” and an average price target of $86.00.
In other news, Director Samuel Zell acquired 526,277 shares of Anixter International stock in a transaction on Wednesday, July 26th. The shares were acquired at an average price of $81.34 per share, with a total value of $42,807,371.18. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP William Standish sold 1,000 shares of Anixter International stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $74.70, for a total value of $74,700.00. The disclosure for this sale can be found here. Over the last three months, insiders purchased 556,277 shares of company stock worth $42,812,881 and sold 3,000 shares worth $228,450. 14.70% of the stock is currently owned by insiders.
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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