Ariel Investments Lowers stake in Anixter International (AXE)

Anixter International (AXE) : Ariel Investments reduced its stake in Anixter International by 12.47% during the most recent quarter end. The investment management company now holds a total of 2,905,773 shares of Anixter International which is valued at $179,460,540 after selling 413,987 shares in Anixter International , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Anixter International makes up approximately 2.11% of Ariel Investments’s portfolio.

Other Hedge Funds, Including , Schwab Charles Investment Management Inc boosted its stake in AXE in the latest quarter, The investment management firm added 6,841 additional shares and now holds a total of 128,135 shares of Anixter International which is valued at $7,913,618. Anixter International makes up approx 0.01% of Schwab Charles Investment Management Inc’s portfolio. Nomura Asset Management Co Ltd added AXE to its portfolio by purchasing 1,520 company shares during the most recent quarter which is valued at $93,875. Integral Derivatives sold out all of its stake in AXE during the most recent quarter. The investment firm sold 5,765 shares of AXE which is valued $347,514.Mutual Of America Capital Management boosted its stake in AXE in the latest quarter, The investment management firm added 1,038 additional shares and now holds a total of 37,006 shares of Anixter International which is valued at $2,119,334. Anixter International makes up approx 0.04% of Mutual Of America Capital Management’s portfolio.Great West Life Assurance Co Can boosted its stake in AXE in the latest quarter, The investment management firm added 34,103 additional shares and now holds a total of 36,906 shares of Anixter International which is valued at $2,113,607. Anixter International makes up approx 0.01% of Great West Life Assurance Co Can’s portfolio.

Anixter International opened for trading at $63.9 and hit $64.77 on the upside on Thursday, eventually ending the session at $64.72, with a gain of 1.22% or 0.78 points. The heightened volatility saw the trading volume jump to 1,39,511 shares. Company has a market cap of $2,139 M.

On the company’s financial health, Anixter International reported $1.32 EPS for the quarter, missing the analyst consensus estimate by $ -0.03 based on the information available during the earnings call on Jul 26, 2016. Analyst had a consensus of $1.35. The company had revenue of $1955.70 million for the quarter, compared to analysts expectations of $1938.08 million. The company’s revenue was up 32.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.15 EPS.

Many Wall Street Analysts have commented on Anixter International. Company shares were Reiterated by Imperial Capital on Jul 27, 2016 to “Outperform”, Firm has raised the Price Target to $ 64 from a previous price target of $60 .

Anixter International Inc. is engaged in the distribution of enterprise cabling and security solutions electrical and electronic wire and cable products original equipment manufacturer (OEM) supply fasteners and other small parts. The Company operates under the following segments: Enterprise Cabling and Security Solutions; Electrical and Electronic Wire and Cable and OEM Supply – Fasteners. The Company’s inventory management services include procurement advisory engineering services component kit production small component assembly and e-commerce and electronic data interchange. Its customers include international national regional and local companies. The Company caters to industry groups such as manufacturing resource extraction telecommunications Internet service providers finance education healthcare retail transportation utilities aerospace and defense and Government. The Company’s wholly owned subsidiary is Anixter Inc.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *