Anixter International Inc. (NYSE:AXE) shares hit a new 52-week high on Tuesday . The company traded as high as $88.05 and last traded at $88.05, with a volume of 102,020 shares trading hands. The stock had previously closed at $87.10.

A number of research analysts recently weighed in on AXE shares. Zacks Investment Research lowered shares of Anixter International from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Robert W. Baird reaffirmed a “hold” rating and issued a $86.00 price target on shares of Anixter International in a research note on Friday, September 1st. BidaskClub lowered shares of Anixter International from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 5th. Wolfe Research started coverage on shares of Anixter International in a research note on Tuesday, July 11th. They issued an “outperform” rating and a $88.00 price target on the stock. Finally, Wells Fargo & Company reaffirmed a “market perform” rating and issued a $82.00 price target (down from $89.00) on shares of Anixter International in a research note on Wednesday, July 12th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $86.00.

The firm’s 50-day moving average price is $76.68 and its 200 day moving average price is $77.79. The company has a market cap of $2.89 billion, a PE ratio of 24.29 and a beta of 2.03.

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 firm had revenue of $2 billion for the quarter, compared to the consensus estimate of $2.01 billion. Anixter International had a net margin of 1.91% and a return on equity of 13.09%. The firm’s revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.32 earnings per share. On average, equities research analysts anticipate that Anixter International Inc. will post $5.35 earnings per share for the current fiscal year.

In related news, Director Samuel Zell acquired 526,277 shares of the firm’s stock in a transaction that occurred on Wednesday, July 26th. The shares were purchased at an average price of $81.34 per share, with a total value of $42,807,371.18. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Robert J. Eck sold 11,000 shares of the business’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $85.31, for a total transaction of $938,410.00. The disclosure for this sale can be found here. In the last three months, insiders have purchased 557,777 shares of company stock worth $42,813,066 and have sold 27,600 shares worth $2,255,610. 14.70% of the stock is currently owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. Piedmont Investment Advisors LLC purchased a new stake in shares of Anixter International in the second quarter valued at about $483,000. Cubist Systematic Strategies LLC lifted its holdings in shares of Anixter International by 145.0% in the second quarter. Cubist Systematic Strategies LLC now owns 11,803 shares of the technology company’s stock valued at $923,000 after purchasing an additional 6,985 shares in the last quarter. State Street Corp lifted its holdings in shares of Anixter International by 2.8% in the second quarter. State Street Corp now owns 743,423 shares of the technology company’s stock valued at $58,132,000 after purchasing an additional 20,422 shares in the last quarter. Shelton Capital Management purchased a new stake in shares of Anixter International in the second quarter valued at about $221,000. Finally, Macquarie Group Ltd. lifted its holdings in shares of Anixter International by 11.8% in the second quarter. Macquarie Group Ltd. now owns 357,133 shares of the technology company’s stock valued at $27,928,000 after purchasing an additional 37,571 shares in the last quarter. 85.53% of the stock is currently owned by hedge funds and other institutional investors.

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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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