KLX Inc. (KLXI) Position Cut by Amalgamated Bank
Amalgamated Bank cut its position in shares of KLX Inc. (NASDAQ:KLXI) by 1.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,314 shares of the aerospace company’s stock after selling 104 shares during the period. Amalgamated Bank’s holdings in KLX were worth $366,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in KLX by 9.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,368 shares of the aerospace company’s stock worth $118,000 after buying an additional 206 shares in the last quarter. Harbour Capital Advisors LLC purchased a new stake in KLX during the first quarter worth $119,000. Bank of Montreal Can boosted its holdings in KLX by 1.4% during the second quarter. Bank of Montreal Can now owns 3,168 shares of the aerospace company’s stock worth $159,000 after buying an additional 43 shares in the last quarter. LS Investment Advisors LLC boosted its holdings in KLX by 15.9% during the second quarter. LS Investment Advisors LLC now owns 4,097 shares of the aerospace company’s stock worth $205,000 after buying an additional 561 shares in the last quarter. Finally, Teacher Retirement System of Texas purchased a new stake in KLX during the second quarter worth $212,000.
A number of analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of KLX from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. BidaskClub downgraded shares of KLX from a “hold” rating to a “sell” rating in a report on Saturday, August 19th. Cowen and Company reissued an “outperform” rating and set a $55.00 price target (up from $52.00) on shares of KLX in a report on Thursday, August 24th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $51.00 price target (down from $55.00) on shares of KLX in a report on Thursday, August 24th. Two investment 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. KLX presently has an average rating of “Hold” and an average price target of $55.00.
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KLX Inc. (KLXI) opened at 53.90 on Friday. The stock has a market capitalization of $2.77 billion, a P/E ratio of 36.42 and a beta of 1.32. KLX Inc. has a 12-month low of $33.17 and a 12-month high of $55.05. The firm’s 50-day moving average is $49.79 and its 200 day moving average is $49.05.
KLX (NASDAQ:KLXI) last announced its quarterly earnings data on Wednesday, August 23rd. The aerospace company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.06. KLX had a net margin of 4.83% and a return on equity of 4.43%. The company had revenue of $430.60 million for the quarter, compared to analysts’ expectations of $423.08 million. KLX’s quarterly revenue was up 13.6% compared to the same quarter last year. Equities analysts expect that KLX Inc. will post $3.08 EPS for the current year.
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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