Goldman Sachs Group Inc. boosted its stake in Anixter (NYSE:AXE) by 5.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 896,632 shares of the technology company’s stock after acquiring an additional 46,165 shares during the quarter. Goldman Sachs Group Inc. owned 2.70% of Anixter worth $68,144,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of AXE. Pzena Investment Management LLC lifted its position in Anixter by 77.7% during the 4th quarter. Pzena Investment Management LLC now owns 860,348 shares of the technology company’s stock worth $65,386,000 after buying an additional 376,316 shares in the last quarter. Sei Investments Co. lifted its position in Anixter by 40,262.2% during the 4th quarter. Sei Investments Co. now owns 232,486 shares of the technology company’s stock worth $15,537,000 after buying an additional 231,910 shares in the last quarter. Jennison Associates LLC lifted its position in Anixter by 14.2% during the 4th quarter. Jennison Associates LLC now owns 770,566 shares of the technology company’s stock worth $58,563,000 after buying an additional 95,781 shares in the last quarter. Channing Capital Management LLC lifted its position in Anixter by 11.6% during the 4th quarter. Channing Capital Management LLC now owns 686,577 shares of the technology company’s stock worth $52,180,000 after buying an additional 71,638 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its position in Anixter by 28.0% during the 4th quarter. Wells Fargo & Company MN now owns 307,594 shares of the technology company’s stock worth $23,378,000 after buying an additional 67,232 shares in the last quarter. 92.55% of the stock is currently owned by institutional investors and hedge funds.
In other Anixter news, CEO Robert J. Eck sold 12,200 shares of the stock in a transaction that occurred on Wednesday, March 7th. The shares were sold at an average price of $76.04, for a total transaction of $927,688.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last 90 days, insiders have sold 22,812 shares of company stock worth $1,773,000. Company insiders own 14.70% of the company’s stock.
Several equities research analysts have commented on AXE shares. Zacks Investment Research raised shares of Anixter from a “sell” rating to a “hold” rating in a research report on Tuesday, December 26th. Wells Fargo reaffirmed a “market perform” rating and issued a $90.00 target price (up from $78.00) on shares of Anixter in a report on Wednesday, January 31st. TheStreet cut shares of Anixter from a “b-” rating to a “c+” rating in a report on Wednesday, February 28th. Finally, ValuEngine cut shares of Anixter from a “buy” rating to a “hold” rating in a report on Saturday, February 3rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $90.00.
AXE traded down $1.80 on Friday, reaching $74.70. The company had a trading volume of 107,401 shares, compared to its average volume of 126,983. Anixter has a fifty-two week low of $62.40 and a fifty-two week high of $88.85. The firm has a market cap of $2,486.99, a P/E ratio of 14.48, a price-to-earnings-growth ratio of 1.18 and a beta of 2.04. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.18 and a current ratio of 2.10.
Anixter (NYSE:AXE) last announced its quarterly earnings results on Tuesday, January 30th. The technology company reported $1.41 EPS for the quarter, beating the Zacks’ consensus estimate of $1.31 by $0.10. Anixter had a net margin of 1.38% and a return on equity of 12.39%. The business had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.99 billion. During the same quarter in the prior year, the business earned $1.31 EPS. Anixter’s quarterly revenue was up 6.3% on a year-over-year basis. equities analysts forecast that Anixter will post 6.35 earnings per share for the current year.
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Anixter International Inc, through its subsidiary, Anixter Inc, distributes enterprise cabling and security solutions, electrical and electronic wire and cable products, and utility power solutions. Its Network & Security Solutions segment offers copper and fiber optic cable and connectivity, access control, video surveillance, intrusion and fire/life safety, cabinet, power, cable management, wireless, professional audio/video, voice and networking switche, and other ancillary products for technology, finance, telecommunications service provider, transportation, education, government, healthcare, and retail industries.
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