Macquarie Group Ltd. Raises Stake in KLX Inc. (KLXI)

Macquarie Group Ltd. grew its position in KLX Inc. (NASDAQ:KLXI) by 20.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 745,847 shares of the aerospace company’s stock after buying an additional 126,690 shares during the quarter. Macquarie Group Ltd. owned 1.44% of KLX worth $37,292,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. grew its stake in KLX by 16,238.1% during the 1st quarter. BlackRock Inc. now owns 6,303,731 shares of the aerospace company’s stock worth $281,777,000 after purchasing an additional 6,265,148 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in KLX by 62.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,620,065 shares of the aerospace company’s stock worth $117,117,000 after purchasing an additional 1,009,575 shares in the last quarter. Jennison Associates LLC acquired a new position in KLX during the 2nd quarter worth $39,567,000. Dimensional Fund Advisors LP grew its stake in KLX by 36.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,675,495 shares of the aerospace company’s stock worth $119,593,000 after purchasing an additional 708,731 shares in the last quarter. Finally, Point72 Asset Management L.P. grew its stake in KLX by 491.9% during the 1st quarter. Point72 Asset Management L.P. now owns 411,992 shares of the aerospace company’s stock worth $18,416,000 after purchasing an additional 342,392 shares in the last quarter.

KLX Inc. (NASDAQ KLXI) remained flat at $53.90 on Monday. The company’s stock had a trading volume of 5,880 shares. KLX Inc. has a 1-year low of $33.17 and a 1-year high of $55.05. The stock has a market cap of $2.77 billion, a PE ratio of 36.42 and a beta of 1.32. The stock’s 50 day moving average price is $49.79 and its 200-day moving average price is $49.05.

KLX (NASDAQ:KLXI) last released its quarterly earnings data on Wednesday, August 23rd. The aerospace company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.67 by $0.06. KLX had a return on equity of 4.43% and a net margin of 4.83%. The company had revenue of $430.60 million for the quarter, compared to analyst estimates of $423.08 million. KLX’s revenue for the quarter was up 13.6% compared to the same quarter last year. On average, equities research analysts anticipate that KLX Inc. will post $3.08 earnings per share for the current year.

KLXI has been the subject of several analyst reports. BidaskClub cut KLX from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 21st. Cowen and Company reissued a “buy” rating and set a $52.00 target price on shares of KLX in a research note on Monday, July 17th. Zacks Investment Research cut KLX from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $51.00 target price (down from $55.00) on shares of KLX in a research note on Thursday, August 24th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $55.00.

TRADEMARK VIOLATION

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. grew its stake in KLX by 16,238.1% during the 1st quarter. BlackRock Inc. now owns 6,303,731 shares of the aerospace company’s stock worth $281,777,000 after purchasing an additional 6,265,148 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in KLX by 62.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,620,065 shares of the aerospace company’s stock worth $117,117,000 after purchasing an additional 1,009,575 shares in the last quarter. Jennison Associates LLC acquired a new position in KLX during the 2nd quarter worth $39,567,000. Dimensional Fund Advisors LP grew its stake in KLX by 36.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,675,495 shares of the aerospace company’s stock worth $119,593,000 after purchasing an additional 708,731 shares in the last quarter. Finally, Point72 Asset Management L.P. grew its stake in KLX by 491.9% during the 1st quarter. Point72 Asset Management L.P. now owns 411,992 shares of the aerospace company’s stock worth $18,416,000 after purchasing an additional 342,392 shares in the last quarter.

KLX Inc. (NASDAQ KLXI) remained flat at $53.90 on Monday. The company’s stock had a trading volume of 5,880 shares. KLX Inc. has a 1-year low of $33.17 and a 1-year high of $55.05. The stock has a market cap of $2.77 billion, a PE ratio of 36.42 and a beta of 1.32. The stock’s 50 day moving average price is $49.79 and its 200-day moving average price is $49.05.

KLX (NASDAQ:KLXI) last released its quarterly earnings data on Wednesday, August 23rd. The aerospace company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.67 by $0.06. KLX had a return on equity of 4.43% and a net margin of 4.83%. The company had revenue of $430.60 million for the quarter, compared to analyst estimates of $423.08 million. KLX’s revenue for the quarter was up 13.6% compared to the same quarter last year. On average, equities research analysts anticipate that KLX Inc. will post $3.08 earnings per share for the current year.

KLXI has been the subject of several analyst reports. BidaskClub cut KLX from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 21st. Cowen and Company reissued a “buy” rating and set a $52.00 target price on shares of KLX in a research note on Monday, July 17th. Zacks Investment Research cut KLX from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $51.00 target price (down from $55.00) on shares of KLX in a research note on Thursday, August 24th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $55.00.

TRADEMARK VIOLATION NOTICE: This report was published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this report on another publication, it was stolen and reposted in violation of U.S. and international trademark and copyright legislation. The legal version of this report can be read at https://ledgergazette.com/2017/10/09/macquarie-group-ltd-raises-stake-in-klx-inc-klxi.html.

About KLX

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).

Institutional Ownership by Quarter for KLX (NASDAQ:KLXI)

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