Trexquant Investment LP lowered its stake in shares of Anixter International Inc. (NYSE:AXE) by 13.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,800 shares of the technology company’s stock after selling 418 shares during the period. Trexquant Investment LP’s holdings in Anixter International were worth $219,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in AXE. Acrospire Investment Management LLC raised its position in shares of Anixter International by 100.0% in the first quarter. Acrospire Investment Management LLC now owns 1,600 shares of the technology company’s stock valued at $127,000 after buying an additional 800 shares during the period. Quantbot Technologies LP purchased a new position in shares of Anixter International during the first quarter valued at $144,000. Cigna Investments Inc. New purchased a new position in shares of Anixter International during the second quarter valued at $220,000. Invictus RG purchased a new position in shares of Anixter International during the first quarter valued at $230,000. Finally, Dubuque Bank & Trust Co. purchased a new position in shares of Anixter International during the first quarter valued at $245,000. 86.64% of the stock is owned by institutional investors and hedge funds.
Shares of Anixter International Inc. (AXE) opened at 71.80 on Wednesday. The firm’s 50 day moving average price is $77.39 and its 200 day moving average price is $78.97. The stock has a market cap of $2.39 billion, a P/E ratio of 16.40 and a beta of 1.98. Anixter International Inc. has a 52-week low of $58.55 and a 52-week high of $88.00.
Anixter International (NYSE:AXE) last released its quarterly earnings results on Tuesday, July 25th. The technology company reported $1.36 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.36. The company had revenue of $2 billion for the quarter, compared to analyst estimates of $2.01 billion. Anixter International had a net margin of 1.91% and a return on equity of 13.09%. The firm’s revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the business earned $1.32 earnings per share. On average, analysts expect that Anixter International Inc. will post $5.35 EPS for the current year.
Several brokerages have weighed in on AXE. BidaskClub lowered Anixter International from a “hold” rating to a “sell” rating in a report on Monday, July 24th. Zacks Investment Research raised Anixter International from a “hold” rating to a “buy” rating and set a $86.00 price objective for the company in a report on Tuesday, June 6th. Finally, Wells Fargo & Company reissued a “market perform” rating and set a $82.00 price objective (down from $89.00) on shares of Anixter International in a report on Wednesday, July 12th. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. Anixter International has an average rating of “Hold” and a consensus price target of $86.00.
In other news, Director Samuel Zell purchased 526,277 shares of the company’s stock in a transaction that occurred on Wednesday, July 26th. The shares were bought at an average price of $81.34 per share, for a total transaction of $42,807,371.18. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP William Standish sold 1,000 shares of the firm’s stock in a transaction on Monday, July 17th. The shares were sold at an average price of $77.55, for a total transaction of $77,550.00. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 556,277 shares of company stock worth $42,812,881 and have sold 3,000 shares worth $228,450. 14.70% of the stock is currently owned by company insiders.
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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