Creative Planning lowered its stake in KLX Inc. (NASDAQ:KLXI) by 8.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,874 shares of the aerospace company’s stock after selling 277 shares during the period. Creative Planning’s holdings in KLX were worth $144,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of KLXI. Teachers Advisors LLC raised its position in KLX by 10.6% in the fourth quarter. Teachers Advisors LLC now owns 93,164 shares of the aerospace company’s stock valued at $4,203,000 after buying an additional 8,963 shares in the last quarter. Capstone Asset Management Co. raised its position in KLX by 3.3% in the first quarter. Capstone Asset Management Co. now owns 7,817 shares of the aerospace company’s stock valued at $349,000 after buying an additional 250 shares in the last quarter. Louisiana State Employees Retirement System raised its position in KLX by 2.3% in the first quarter. Louisiana State Employees Retirement System now owns 13,300 shares of the aerospace company’s stock valued at $595,000 after buying an additional 300 shares in the last quarter. Nationwide Fund Advisors raised its position in KLX by 17.4% in the first quarter. Nationwide Fund Advisors now owns 156,077 shares of the aerospace company’s stock valued at $6,977,000 after buying an additional 23,095 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust raised its position in KLX by 21.7% in the first quarter. Emerald Mutual Fund Advisers Trust now owns 400,793 shares of the aerospace company’s stock valued at $17,915,000 after buying an additional 71,370 shares in the last quarter.
Shares of KLX Inc. (NASDAQ:KLXI) traded up 1.81% during mid-day trading on Friday, hitting $50.52. The company had a trading volume of 331,337 shares. The firm has a 50-day moving average of $51.14 and a 200-day moving average of $48.84. The company has a market cap of $2.61 billion, a PE ratio of 41.07 and a beta of 1.28. KLX Inc. has a 12 month low of $32.23 and a 12 month high of $54.40.
KLX (NASDAQ:KLXI) last posted its quarterly earnings data on Wednesday, May 24th. The aerospace company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.06. The business had revenue of $411.30 million for the quarter, compared to analyst estimates of $409.95 million. KLX had a return on equity of 3.99% and a net margin of 4.24%. On average, analysts expect that KLX Inc. will post $3.08 EPS for the current year.
Several research analysts have recently commented on KLXI shares. Cowen and Company reiterated an “outperform” rating and set a $52.00 price target on shares of KLX in a report on Wednesday, April 19th. Deutsche Bank AG lifted their price target on KLX from $51.00 to $52.00 and gave the stock a “hold” rating in a report on Wednesday, April 19th. Zacks Investment Research upgraded KLX from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a report on Saturday, April 22nd. TheStreet upgraded KLX from a “c+” rating to a “b-” rating in a report on Wednesday, June 7th. Finally, BidaskClub upgraded KLX from a “buy” rating to a “strong-buy” rating in a report on Wednesday, June 14th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $55.40.
In related news, insider Roger Mark Franks sold 2,447 shares of the stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $47.70, for a total transaction of $116,721.90. Following the transaction, the insider now directly owns 21,444 shares in the company, valued at $1,022,878.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders have sold 3,163 shares of company stock worth $153,553. Corporate insiders own 1.77% of the company’s stock.
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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