OppenheimerFunds Inc. boosted its stake in shares of KLX Inc. (NASDAQ:KLXI) by 35.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,055 shares of the aerospace company’s stock after buying an additional 2,357 shares during the period. OppenheimerFunds Inc.’s holdings in KLX were worth $405,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Paradice Investment Management LLC raised its stake in shares of KLX by 10.7% in the first quarter. Paradice Investment Management LLC now owns 1,407,710 shares of the aerospace company’s stock valued at $62,925,000 after buying an additional 135,541 shares during the period. FMR LLC raised its stake in shares of KLX by 28.8% in the fourth quarter. FMR LLC now owns 1,115,700 shares of the aerospace company’s stock valued at $50,329,000 after buying an additional 249,748 shares during the period. Frontier Capital Management Co. LLC raised its stake in shares of KLX by 3.1% in the first quarter. Frontier Capital Management Co. LLC now owns 1,038,401 shares of the aerospace company’s stock valued at $46,417,000 after buying an additional 31,159 shares during the period. Norges Bank bought a new stake in shares of KLX during the fourth quarter valued at about $37,067,000. Finally, Bank of New York Mellon Corp raised its stake in shares of KLX by 37.1% in the first quarter. Bank of New York Mellon Corp now owns 809,930 shares of the aerospace company’s stock valued at $36,203,000 after buying an additional 219,055 shares during the period.
Shares of KLX Inc. (NASDAQ KLXI) traded up 0.48% on Friday, hitting $52.15. 193,051 shares of the stock were exchanged. KLX Inc. has a 52-week low of $31.05 and a 52-week high of $53.13. The company has a 50 day moving average of $50.68 and a 200 day moving average of $48.63. The company has a market cap of $2.70 billion, a price-to-earnings ratio of 42.40 and a beta of 1.28.
KLX (NASDAQ:KLXI) last issued its earnings results on Wednesday, May 24th. The aerospace company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.06. KLX had a net margin of 4.24% and a return on equity of 3.99%. The firm had revenue of $411.30 million for the quarter, compared to analysts’ expectations of $409.95 million. Equities research analysts forecast that KLX Inc. will post $3.09 earnings per share for the current year.
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Several equities research analysts recently issued reports on the stock. Cowen and Company reaffirmed an “outperform” rating and set a $52.00 price target on shares of KLX in a report on Wednesday, April 19th. Zacks Investment Research lowered shares of KLX from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 18th. BidaskClub raised shares of KLX from a “buy” rating to a “strong-buy” rating in a report on Wednesday, June 14th. TheStreet upgraded shares of KLX from a “c+” rating to a “b-” rating in a research report on Wednesday, June 7th. Finally, Deutsche Bank AG lifted their target price on shares of KLX from $51.00 to $52.00 and gave the stock a “hold” rating in a research report on Wednesday, April 19th. Three analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. KLX presently has an average rating of “Buy” and an average target price of $55.40.
In other news, insider Roger Mark Franks sold 2,447 shares of the firm’s stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $47.70, for a total value of $116,721.90. Following the transaction, the insider now owns 21,444 shares in the company, valued at $1,022,878.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 3,163 shares of company stock worth $153,553 in the last 90 days. Company insiders own 1.77% of the company’s stock.
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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