Rhumbline Advisers Decreases Stake in KLX Inc. (KLXI)
Rhumbline Advisers reduced its stake in KLX Inc. (NASDAQ:KLXI) by 1.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 119,137 shares of the aerospace company’s stock after selling 2,210 shares during the period. Rhumbline Advisers owned 0.23% of KLX worth $5,957,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Harbour Capital Advisors LLC purchased a new position in shares of KLX during the first quarter valued at $119,000. Tyers Asset Management LLC raised its position in shares of KLX by 9.1% in the first quarter. Tyers Asset Management LLC now owns 2,688 shares of the aerospace company’s stock valued at $120,000 after buying an additional 224 shares during the period. Bank of Montreal Can raised its position in shares of KLX by 1.4% in the second quarter. Bank of Montreal Can now owns 3,168 shares of the aerospace company’s stock valued at $159,000 after buying an additional 43 shares during the period. Flinton Capital Management LLC raised its position in shares of KLX by 9.1% in the first quarter. Flinton Capital Management LLC now owns 3,264 shares of the aerospace company’s stock valued at $146,000 after buying an additional 272 shares during the period. Finally, LS Investment Advisors LLC raised its position in shares of KLX by 15.9% in the second quarter. LS Investment Advisors LLC now owns 4,097 shares of the aerospace company’s stock valued at $205,000 after buying an additional 561 shares during the period.
KLX Inc. (NASDAQ KLXI) opened at 46.92 on Wednesday. KLX Inc. has a 52-week low of $32.23 and a 52-week high of $54.40. The stock has a market capitalization of $2.41 billion, a price-to-earnings ratio of 31.70 and a beta of 1.28. The firm has a 50-day moving average price of $50.95 and a 200 day moving average price of $48.80.
KLX (NASDAQ:KLXI) last released its earnings results on Wednesday, August 23rd. The aerospace company reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.06. The business had revenue of $430.60 million during the quarter, compared to the consensus estimate of $423.08 million. KLX had a net margin of 4.83% and a return on equity of 4.43%. The business’s revenue for the quarter was up 13.6% on a year-over-year basis. On average, equities research analysts predict that KLX Inc. will post $3.07 EPS for the current year.
Several research analysts recently weighed in on the company. Zacks Investment Research lowered KLX from a “hold” rating to a “sell” rating in a research report on Tuesday. Jefferies Group LLC reaffirmed a “hold” rating and issued a $51.00 target price (down from $55.00) on shares of KLX in a research report on Thursday, August 24th. Cowen and Company reaffirmed an “outperform” rating and issued a $55.00 target price (up from $52.00) on shares of KLX in a research report on Thursday, August 24th. BidaskClub lowered KLX from a “hold” rating to a “sell” rating in a research report on Saturday, August 19th. Finally, TheStreet raised KLX from a “c+” rating to a “b-” rating in a research report on Wednesday, June 7th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $55.17.
KLX Company Profile
KLX Inc (KLX) is the distributor and service provider of aerospace fasteners and consumables. The Company offers ranges of aerospace hardware and consumables and inventory management services across the world. The Company operates through two segments: Aerospace Solutions Group (ASG) and Energy Services Group (ESG).
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