KLX Inc. (KLXI) Stake Increased by Principal Financial Group Inc.

Principal Financial Group Inc. increased its position in shares of KLX Inc. (NASDAQ:KLXI) by 3.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 219,996 shares of the aerospace company’s stock after purchasing an additional 7,763 shares during the period. Principal Financial Group Inc. owned 0.43% of KLX worth $10,998,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. raised its position in shares of KLX by 16,238.1% during the 1st quarter. BlackRock Inc. now owns 6,303,731 shares of the aerospace company’s stock valued at $281,777,000 after purchasing an additional 6,265,148 shares during the period. Vanguard Group Inc. raised its position in shares of KLX by 4.9% during the 1st quarter. Vanguard Group Inc. now owns 4,292,293 shares of the aerospace company’s stock valued at $191,865,000 after purchasing an additional 201,203 shares during the period. Dimensional Fund Advisors LP raised its position in shares of KLX by 36.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,675,495 shares of the aerospace company’s stock valued at $119,593,000 after purchasing an additional 708,731 shares during the period. Goldman Sachs Group Inc. raised its position in shares of KLX by 62.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,620,065 shares of the aerospace company’s stock valued at $117,117,000 after purchasing an additional 1,009,575 shares during the period. Finally, State Street Corp raised its position in shares of KLX by 11.3% during the 1st quarter. State Street Corp now owns 2,167,821 shares of the aerospace company’s stock valued at $96,904,000 after purchasing an additional 219,261 shares during the period.

Shares of KLX Inc. (NASDAQ KLXI) opened at 52.91 on Friday. The firm has a 50-day moving average of $49.00 and a 200-day moving average of $48.46. KLX Inc. has a one year low of $32.23 and a one year high of $54.40. The company has a market capitalization of $2.72 billion, a P/E ratio of 35.75 and a beta of 1.29.

KLX (NASDAQ:KLXI) last posted its quarterly earnings data on Wednesday, August 23rd. The aerospace company reported $0.73 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.06. The company had revenue of $430.60 million during the quarter, compared to analysts’ expectations of $423.08 million. KLX had a net margin of 4.83% and a return on equity of 4.43%. The firm’s quarterly revenue was up 13.6% compared to the same quarter last year. Analysts forecast that KLX Inc. will post $3.07 earnings per share for the current year.

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Several analysts have recently commented on KLXI shares. BidaskClub upgraded shares of KLX from a “hold” rating to a “buy” rating in a research report on Saturday, July 8th. Jefferies Group LLC restated a “hold” rating and set a $51.00 price objective (down from $55.00) on shares of KLX in a research report on Thursday, August 24th. Zacks Investment Research upgraded shares of KLX from a “hold” rating to a “strong-buy” rating and set a $56.00 price objective on the stock in a research report on Saturday, July 1st. Cowen and Company restated a “buy” rating and set a $52.00 price objective on shares of KLX in a research report on Monday, July 17th. Finally, TheStreet upgraded shares of KLX from a “c+” rating to a “b-” rating in a research report on Wednesday, June 7th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. The company has a consensus 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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Institutional Ownership by Quarter for KLX (NASDAQ:KLXI)

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