Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp reduced its holdings in shares of KLX Inc (NASDAQ:KLXI) by 6.6% in the first quarter, according to its most recent filing with the SEC. The fund owned 156,436 shares of the aerospace company’s stock after selling 11,013 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp owned about 0.31% of KLX worth $11,116,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of KLXI. Quantbot Technologies LP lifted its stake in shares of KLX by 2,700.0% during the 1st quarter. Quantbot Technologies LP now owns 1,596 shares of the aerospace company’s stock worth $113,000 after acquiring an additional 1,539 shares during the last quarter. Institutional & Family Asset Management LLC bought a new stake in shares of KLX during the 1st quarter worth approximately $172,000. Cowen Inc. bought a new stake in shares of KLX during the 4th quarter worth approximately $205,000. LPL Financial LLC bought a new stake in shares of KLX during the 4th quarter worth approximately $206,000. Finally, We Are One Seven LLC purchased a new position in KLX during the 4th quarter worth $223,000. 99.23% of the stock is owned by hedge funds and other institutional investors.
KLXI has been the topic of several research reports. BidaskClub upgraded KLX from a “buy” rating to a “strong-buy” rating in a report on Thursday, February 22nd. SunTrust Banks downgraded KLX from a “buy” rating to a “hold” rating and set a $53.00 price objective on the stock. in a report on Wednesday, May 2nd. Zacks Investment Research downgraded KLX from a “buy” rating to a “hold” rating in a report on Saturday, May 12th. TheStreet downgraded KLX from a “b” rating to a “c+” rating in a report on Tuesday, March 6th. Finally, Jefferies Financial Group upgraded KLX from a “hold” rating to a “buy” rating in a report on Wednesday, March 7th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $66.50.
KLX (NASDAQ:KLXI) last released its quarterly earnings data on Tuesday, May 22nd. The aerospace company reported $1.12 EPS for the quarter, topping the consensus estimate of $1.06 by $0.06. The company had revenue of $499.10 million for the quarter, compared to the consensus estimate of $479.50 million. KLX had a return on equity of 6.58% and a net margin of 3.65%. The firm’s revenue was up 21.3% compared to the same quarter last year. equities research analysts forecast that KLX Inc will post 4.11 EPS for the current fiscal year.
KLX Inc, together with its subsidiaries, provides aerospace fasteners, consumables, and logistics services worldwide. The Aerospace Solutions Group segment distributes bolts, clips, hinges, rings, screws, carbon-faced seals, gaskets, O-rings, and others; chemicals, sealants and adhesives, lubricants, paints, cleaners, and degreasers; Honeywell proprietary parts; bearings, tooling, electrical components, and clamps; and hydraulics, pneumatics, fluid connectors, filtration, electrical control systems seals, and compressors and engineered systems.
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