State Street Corp increased its position in shares of Anixter International Inc. (NYSE:AXE) by 2.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 723,001 shares of the technology company’s stock after buying an additional 18,287 shares during the period. State Street Corp owned approximately 2.18% of Anixter International worth $57,338,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Renaissance Technologies LLC raised its position in shares of Anixter International by 597.5% in the fourth quarter. Renaissance Technologies LLC now owns 27,900 shares of the technology company’s stock worth $2,261,000 after buying an additional 23,900 shares during the last quarter. Norges Bank bought a new position in shares of Anixter International during the fourth quarter worth about $22,109,000. Teachers Advisors LLC raised its position in shares of Anixter International by 0.8% in the fourth quarter. Teachers Advisors LLC now owns 235,145 shares of the technology company’s stock worth $19,059,000 after buying an additional 1,980 shares during the last quarter. Macquarie Group Ltd. raised its position in shares of Anixter International by 7.6% in the fourth quarter. Macquarie Group Ltd. now owns 300,862 shares of the technology company’s stock worth $24,385,000 after buying an additional 21,223 shares during the last quarter. Finally, Bank of Montreal Can raised its position in shares of Anixter International by 7.3% in the first quarter. Bank of Montreal Can now owns 4,918 shares of the technology company’s stock worth $390,000 after buying an additional 333 shares during the last quarter. Institutional investors and hedge funds own 86.91% of the company’s stock.
Anixter International Inc. (AXE) opened at 78.35 on Friday. The firm’s 50-day moving average is $77.45 and its 200-day moving average is $79.72. Anixter International Inc. has a 52 week low of $56.23 and a 52 week high of $88.00. The firm has a market cap of $2.60 billion, a price-to-earnings ratio of 20.55 and a beta of 1.98.
Anixter International (NYSE:AXE) last announced its quarterly earnings data on Tuesday, April 25th. The technology company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.09. The company had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.87 billion. Anixter International had a net margin of 1.67% and a return on equity of 13.31%. Anixter International’s revenue was up 4.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.92 EPS. On average, equities analysts anticipate that Anixter International Inc. will post $5.35 earnings per share for the current year.
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AXE has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded shares of Anixter International from a “hold” rating to a “buy” rating and set a $94.00 price target on the stock in a research note on Friday, April 28th. BidaskClub upgraded shares of Anixter International from a “sell” rating to a “hold” rating in a research note on Friday, June 16th. Wolfe Research initiated coverage on shares of Anixter International in a research note on Tuesday, July 11th. They set an “outperform” rating and a $88.00 price target on the stock. Finally, Wells Fargo & Company restated a “market perform” rating and set a $82.00 price target (down previously from $89.00) on shares of Anixter International in a research note on Wednesday, July 12th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. Anixter International has an average rating of “Hold” and an average price target of $86.00.
In other Anixter International news, CEO Robert J. Eck sold 4,995 shares of the business’s stock in a transaction on Monday, May 8th. The shares were sold at an average price of $80.18, for a total value of $400,499.10. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director F Philip Handy sold 20,000 shares of the business’s stock in a transaction on Wednesday, April 26th. The shares were sold at an average price of $83.97, for a total transaction of $1,679,400.00. The disclosure for this sale can be found here. Over the last three months, insiders acquired 30,000 shares of company stock worth $5,510 and sold 27,995 shares worth $2,312,249. Insiders own 14.70% of the company’s stock.
About Anixter International
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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