Charles Schwab Investment Management Inc. increased its position in shares of Anixter International Inc. (NYSE:AXE) by 3.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 211,526 shares of the technology company’s stock after buying an additional 7,698 shares during the period. Charles Schwab Investment Management Inc. owned 0.63% of Anixter International worth $12,631,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Connable Office Inc. purchased a new position in Anixter International during the second quarter valued at $206,000. JPMorgan Chase & Co. lifted its stake in shares of Anixter International by 25.9% in the second quarter. JPMorgan Chase & Co. now owns 57,971 shares of the technology company’s stock worth $3,416,000 after buying an additional 11,919 shares in the last quarter. Piedmont Investment Advisors Inc. lifted its stake in shares of Anixter International by 5.9% in the first quarter. Piedmont Investment Advisors Inc. now owns 7,267 shares of the technology company’s stock worth $408,000 after buying an additional 403 shares in the last quarter. Pier 88 Investment Partners LLC purchased a new position in shares of Anixter International in the second quarter worth about $640,000. Finally, Envestnet Asset Management Inc. lifted its stake in shares of Anixter International by 2.7% in the second quarter. Envestnet Asset Management Inc. now owns 26,276 shares of the technology company’s stock worth $1,569,000 after buying an additional 702 shares in the last quarter. 85.99% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have recently weighed in on the stock. TheStreet raised shares of Anixter International from a “c+” rating to a “b-” rating in a research note on Monday, September 16th. ValuEngine raised shares of Anixter International from a “strong sell” rating to a “sell” rating in a research note on Thursday, September 5th. Wells Fargo & Co upgraded shares of Anixter International from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $70.00 to $90.00 in a research report on Monday, September 23rd. Finally, Zacks Investment Research cut shares of Anixter International from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 24th.
Shares of AXE traded up $1.43 during trading on Friday, reaching $68.59. 139,851 shares of the company traded hands, compared to its average volume of 215,238. Anixter International Inc. has a twelve month low of $50.05 and a twelve month high of $70.63. The stock has a market cap of $2.26 billion, a PE ratio of 11.77, a price-to-earnings-growth ratio of 1.21 and a beta of 1.92. The stock has a 50-day simple moving average of $64.68 and a 200-day simple moving average of $60.27. The company has a quick ratio of 1.16, a current ratio of 2.08 and a debt-to-equity ratio of 0.87.
Anixter International (NYSE:AXE) last announced its quarterly earnings results on Thursday, July 25th. The technology company reported $2.05 earnings per share for the quarter, beating analysts’ consensus estimates of $1.53 by $0.52. The business had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $2.23 billion. Anixter International had a net margin of 2.21% and a return on equity of 13.80%. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period last year, the business earned $1.53 earnings per share. On average, equities research analysts predict that Anixter International Inc. will post 6.93 EPS for the current year.
In related news, Director Robert J. Eck sold 70,706 shares of Anixter International stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $62.63, for a total value of $4,428,316.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William Galvin sold 6,676 shares of Anixter International stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $69.50, for a total transaction of $463,982.00. The disclosure for this sale can be found here. Insiders sold 106,290 shares of company stock valued at $6,862,902 in the last 90 days. Company insiders own 11.00% of the company’s stock.
Anixter International Profile
Anixter International Inc, through its subsidiary, Anixter Inc, distributes enterprise cabling and security solutions, electrical and electronic wire and cable solutions, and utility power solutions worldwide. The company operates through Network & Security Solutions (NSS), Electrical & Electronic Solutions (EES), and Utility Power Solutions (UPS) segments.
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