Proxima Capital Management Lowers stake in KLX Inc (KLXI)

KLX Inc (KLXI) : Proxima Capital Management reduced its stake in KLX Inc by 19.63% during the most recent quarter end. The investment management company now holds a total of 506,477 shares of KLX Inc which is valued at $19,879,222 after selling 123,722 shares in KLX Inc , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.KLX Inc makes up approximately 9.57% of Proxima Capital Management’s portfolio.

Other Hedge Funds, Including , Jacobs Levy Equity Management Inc sold out all of its stake in KLXI during the most recent quarter. The investment firm sold 36,570 shares of KLXI which is valued $1,435,373.Mutual Of America Capital Management boosted its stake in KLXI in the latest quarter, The investment management firm added 601 additional shares and now holds a total of 40,460 shares of KLX Inc which is valued at $1,361,479. KLX Inc makes up approx 0.03% of Mutual Of America Capital Management’s portfolio.Nationwide Fund Advisors boosted its stake in KLXI in the latest quarter, The investment management firm added 4,443 additional shares and now holds a total of 128,306 shares of KLX Inc which is valued at $4,334,177. KLX Inc makes up approx 0.02% of Nationwide Fund Advisors’s portfolio.Meeder Asset Management Inc reduced its stake in KLXI by selling 2,391 shares or 11.65% in the most recent quarter. The Hedge Fund company now holds 18,128 shares of KLXI which is valued at $612,001. KLX Inc makes up approx 0.05% of Meeder Asset Management Inc’s portfolio.

KLX Inc opened for trading at $38.62 and hit $39.29 on the upside on Monday, eventually ending the session at $39.28, with a gain of 1.58% or 0.61 points. The heightened volatility saw the trading volume jump to 2,81,376 shares. Company has a market cap of $2,070 M.

On the company’s financial health, KLX Inc reported $0.42 EPS for the quarter, based on the information available during the earnings call on May 23, 2016. Analyst had a consensus estimate of $0.42. The company had revenue of $368.20 million for the quarter, compared to analysts expectations of $373.48 million. The company’s revenue was down -14.7 % compared to the same quarter last year.

KLX Inc. (KLX) is the distributor and service provider of aerospace fasteners and consumables. The Company offers ranges of aerospace hardware and consumables and inventory management services across the world. It operates in two segments: Aerospace Solutions Group (ASG) segment and Energy Services Group (ESG) segment. Its customers include oil and gas companies that are engaged in the exploration and production (E&P) and development of oil and gas properties. Through the Company’s global facilities network and information technology systems it offers unparalleled service to commercial airlines business jet and defense original equipment manufacturers and their subcontractors (OEMs) maintenance repair and overhaul (MRO) operators and fixed base operators (FBOs). Its systems support both internal distribution processes along with customer services including just-in-time (JIT) deliveries and kitting solutions. It provides access to over one million stock keeping units (SKUs).

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