CIBC Asset Management Inc held its position in Anixter International Inc. (NYSE:AXE) during the second quarter, according to its most recent filing with the SEC. The firm owned 3,793 shares of the technology company’s stock at the end of the second quarter. CIBC Asset Management Inc’s holdings in Anixter International were worth $297,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Acrospire Investment Management LLC raised its position in 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 stake in shares of Anixter International during the first quarter valued at approximately $144,000. Invictus RG purchased a new stake in shares of Anixter International during the first quarter valued at approximately $230,000. Dubuque Bank & Trust Co. purchased a new stake in shares of Anixter International during the first quarter valued at approximately $245,000. Finally, State of Alaska Department of Revenue increased its stake in shares of Anixter International by 2.6% in the first quarter. State of Alaska Department of Revenue now owns 3,160 shares of the technology company’s stock valued at $250,000 after buying an additional 80 shares in the last quarter. 86.64% of the stock is owned by hedge funds and other institutional investors.
Shares of Anixter International Inc. (NYSE AXE) opened at 71.55 on Friday. The stock has a 50 day moving average price of $77.79 and a 200 day moving average price of $79.21. The firm has a market capitalization of $2.38 billion, a P/E ratio of 16.35 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 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $1.36. Anixter International had a net margin of 1.91% and a return on equity of 13.09%. The company had revenue of $2 billion during the quarter, compared to the consensus estimate of $2.01 billion. During the same period in the prior year, the firm earned $1.32 earnings per share. Anixter International’s revenue was up 2.3% on a year-over-year basis. Analysts forecast that Anixter International Inc. will post $5.35 EPS for the current year.
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Several brokerages have recently commented on AXE. Wells Fargo & Company restated a “market perform” rating and issued a $82.00 target price (down from $89.00) on shares of Anixter International in a research note on Wednesday, July 12th. Wolfe Research began coverage on Anixter International in a research note on Tuesday, July 11th. They issued an “outperform” rating and a $88.00 target price for the company. Zacks Investment Research downgraded Anixter International from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 27th. Finally, BidaskClub downgraded Anixter International from a “hold” rating to a “sell” rating in a research note on Monday, July 24th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $86.00.
In related news, Director Samuel Zell purchased 526,277 shares of the firm’s stock in a transaction that occurred on Wednesday, July 26th. The stock was bought at an average cost of $81.34 per share, with a total value of $42,807,371.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP William Standish sold 1,000 shares of the stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $74.70, for a total transaction of $74,700.00. The disclosure for this sale can be found here. Over the last three months, insiders purchased 556,277 shares of company stock valued at $42,812,881 and sold 3,000 shares valued at $228,450. 14.70% of the stock is owned by corporate 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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