Schwab Charles Investment Management Inc. lifted its stake in shares of Anixter International Inc. (NYSE:AXE) by 2.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 206,805 shares of the technology company’s stock after purchasing an additional 5,724 shares during the quarter. Schwab Charles Investment Management Inc. owned about 0.62% of Anixter International worth $17,579,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in the company. Advisor Group Inc. raised its holdings in shares of Anixter International by 110.9% in the 2nd quarter. Advisor Group Inc. now owns 1,354 shares of the technology company’s stock worth $106,000 after acquiring an additional 712 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Anixter International in the 2nd quarter worth about $158,000. Riverhead Capital Management LLC raised its holdings in shares of Anixter International by 77.6% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,131 shares of the technology company’s stock worth $167,000 after acquiring an additional 931 shares during the last quarter. Teacher Retirement System of Texas acquired a new stake in shares of Anixter International in the 3rd quarter worth about $209,000. Finally, Flinton Capital Management LLC raised its holdings in shares of Anixter International by 64.0% in the 2nd quarter. Flinton Capital Management LLC now owns 2,788 shares of the technology company’s stock worth $218,000 after acquiring an additional 1,088 shares during the last quarter. 87.90% of the stock is currently owned by institutional investors.
A number of equities research analysts recently weighed in on the stock. TheStreet upgraded shares of Anixter International from a “c+” rating to a “b-” rating in a report on Wednesday. ValuEngine upgraded shares of Anixter International from a “hold” rating to a “buy” rating in a research note on Friday, December 29th. Finally, Zacks Investment Research upgraded shares of Anixter International from a “sell” rating to a “hold” rating in a research note on Tuesday, December 26th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. Anixter International presently has an average rating of “Hold” and an average price target of $86.00.
In related news, CEO Robert J. Eck sold 2,600 shares of the firm’s stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $86.23, for a total value of $224,198.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP William Standish sold 1,758 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $65.00, for a total transaction of $114,270.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,532 shares of company stock valued at $1,262,866. 14.70% of the stock is currently owned by company insiders.
Anixter International Inc. (AXE) traded up $1.70 during trading hours on Friday, reaching $78.50. 332,408 shares of the company’s stock traded hands, compared to its average volume of 189,144. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.17 and a current ratio of 2.07. Anixter International Inc. has a 52-week low of $62.40 and a 52-week high of $88.60. The stock has a market cap of $2,590.00, a price-to-earnings ratio of 18.34, a price-to-earnings-growth ratio of 1.33 and a beta of 2.03.
Anixter International (NYSE:AXE) last issued its quarterly earnings results on Tuesday, October 24th. The technology company reported $1.30 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.51 by ($0.21). Anixter International had a return on equity of 12.52% and a net margin of 1.86%. The company had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $2.06 billion. During the same quarter in the previous year, the business earned $1.38 EPS. The company’s revenue for the quarter was up 3.1% on a year-over-year basis. analysts expect that Anixter International Inc. will post 5.13 earnings per share for the current year.
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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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