Pinebridge Investments L.P. increased its stake in Anixter International Inc. (NYSE:AXE) by 31.0% in the fourth quarter, Holdings Channel reports. The fund owned 43,858 shares of the technology company’s stock after purchasing an additional 10,386 shares during the period. Pinebridge Investments L.P.’s holdings in Anixter International were worth $3,333,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AXE. Northern Trust Corp lifted its stake in shares of Anixter International by 1.1% in the 2nd quarter. Northern Trust Corp now owns 345,441 shares of the technology company’s stock valued at $27,013,000 after acquiring an additional 3,908 shares during the last quarter. FMR LLC lifted its stake in shares of Anixter International by 24.6% in the 2nd quarter. FMR LLC now owns 25,300 shares of the technology company’s stock valued at $1,978,000 after acquiring an additional 5,000 shares during the last quarter. Advisor Group Inc. lifted its stake 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 valued at $106,000 after acquiring an additional 712 shares during the last quarter. OxFORD Asset Management LLP lifted its stake in shares of Anixter International by 1.5% in the 2nd quarter. OxFORD Asset Management LLP now owns 4,604 shares of the technology company’s stock valued at $360,000 after acquiring an additional 68 shares during the last quarter. Finally, State Street Corp lifted its stake in shares of Anixter International by 2.8% in the 2nd quarter. State Street Corp now owns 743,423 shares of the technology company’s stock valued at $58,132,000 after acquiring an additional 20,422 shares during the last quarter. 88.14% of the stock is owned by institutional investors.
In other Anixter International news, CEO Robert J. Eck sold 7,800 shares of the company’s stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $80.12, for a total transaction of $624,936.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP William Standish sold 1,758 shares of the company’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $65.00, for a total value of $114,270.00. The disclosure for this sale can be found here. Insiders have sold a total of 20,732 shares of company stock valued at $1,577,404 in the last ninety days. 14.70% of the stock is currently owned by corporate insiders.
Anixter International Inc. (AXE) opened at $77.60 on Friday. The company has a market capitalization of $2,581.91, a P/E ratio of 15.04, a price-to-earnings-growth ratio of 1.22 and a beta of 2.06. The company has a current ratio of 2.10, a quick ratio of 1.18 and a debt-to-equity ratio of 0.86. Anixter International Inc. has a 52-week low of $62.40 and a 52-week high of $88.85.
Anixter International (NYSE:AXE) last released its quarterly earnings results on Tuesday, January 30th. The technology company reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.10. The business had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.99 billion. Anixter International had a return on equity of 12.39% and a net margin of 1.38%. Anixter International’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.31 EPS. equities research analysts forecast that Anixter International Inc. will post 6.35 earnings per share for the current fiscal year.
A number of research firms have recently weighed in on AXE. TheStreet lowered Anixter International from a “b-” rating to a “c” rating in a research note on Tuesday, November 21st. Zacks Investment Research raised Anixter International from a “hold” rating to a “strong-buy” rating and set a $96.00 price target for the company in a research report on Thursday, February 1st. ValuEngine lowered Anixter International from a “buy” rating to a “hold” rating in a research report on Saturday, February 3rd. Finally, Wells Fargo & Co reaffirmed a “market perform” rating and set a $90.00 price target (up previously from $78.00) on shares of Anixter International in a research report on Wednesday, January 31st. One research analyst has rated the stock with a sell rating, three have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $90.00.
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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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