Convergence Investment Partners LLC Takes $1.46 Million Position in Anixter International Inc. (NYSE:AXE)

Convergence Investment Partners LLC bought a new stake in Anixter International Inc. (NYSE:AXE) in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm bought 17,138 shares of the technology company’s stock, valued at approximately $1,457,000. Convergence Investment Partners LLC owned 0.05% of Anixter International at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Amalgamated Bank lifted its position in shares of Anixter International by 1.3% during the 2nd quarter. Amalgamated Bank now owns 3,973 shares of the technology company’s stock worth $311,000 after buying an additional 51 shares in the last quarter. OxFORD Asset Management LLP lifted its position in shares of Anixter International by 1.5% during the 2nd quarter. OxFORD Asset Management LLP now owns 4,604 shares of the technology company’s stock worth $360,000 after buying an additional 68 shares in the last quarter. US Bancorp DE lifted its position in shares of Anixter International by 1.6% during the 2nd quarter. US Bancorp DE now owns 4,527 shares of the technology company’s stock worth $354,000 after buying an additional 72 shares in the last quarter. Strs Ohio raised its holdings in shares of Anixter International by 1.3% in the 2nd quarter. Strs Ohio now owns 15,900 shares of the technology company’s stock worth $1,243,000 after purchasing an additional 200 shares during the period. Finally, Mutual of America Capital Management LLC raised its holdings in shares of Anixter International by 0.8% in the 2nd quarter. Mutual of America Capital Management LLC now owns 24,432 shares of the technology company’s stock worth $1,911,000 after purchasing an additional 203 shares during the period. Institutional investors own 87.96% of the company’s stock.

Anixter International Inc. (AXE) opened at $70.35 on Friday. Anixter International Inc. has a 52-week low of $62.40 and a 52-week high of $88.60. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.17 and a current ratio of 2.07. The stock has a market cap of $2,284.15, a PE ratio of 13.57, a P/E/G ratio of 1.34 and a beta of 2.03.

Anixter International (NYSE:AXE) last announced its quarterly earnings results on Tuesday, October 24th. The technology company reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.51 by ($0.21). The company had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $2.06 billion. Anixter International had a net margin of 1.86% and a return on equity of 12.52%. Anixter International’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.38 EPS. research analysts forecast that Anixter International Inc. will post 5.13 EPS for the current fiscal year.

In related news, CEO Robert J. Eck sold 11,000 shares of the stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $85.31, for a total transaction of $938,410.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP William Standish sold 1,000 shares of the stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $86.20, for a total transaction of $86,200.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,958 shares of company stock worth $2,451,078. Corporate insiders own 14.70% of the company’s stock.

A number of equities research analysts recently commented on the stock. Zacks Investment Research raised shares of Anixter International from a “sell” rating to a “hold” rating in a report on Monday, September 11th. Robert W. Baird restated a “hold” rating and set a $86.00 price target on shares of Anixter International in a research report on Friday, September 1st. Finally, TheStreet lowered shares of Anixter International from a “b-” rating to a “c” rating in a research report on Tuesday, November 21st. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $86.00.

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About Anixter International

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).

Institutional Ownership by Quarter for Anixter International (NYSE:AXE)

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