Proxima Capital Management Lowers stake in KLX Inc (KLXI)

KLX Inc (KLXI) : Proxima Capital Management reduced its stake in KLX Inc by 20.06% during the most recent quarter end. The investment management company now holds a total of 630,199 shares of KLX Inc which is valued at $21,483,484 after selling 158,101 shares in KLX Inc , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.KLX Inc makes up approximately 8.67% of Proxima Capital Management’s portfolio.

Other Hedge Funds, Including , Mangrove Partners sold out all of its stake in KLXI during the most recent quarter. The investment firm sold 399,742 shares of KLXI which is valued $13,627,205. Citadel Advisors added KLXI to its portfolio by purchasing 729,287 company shares during the most recent quarter which is valued at $24,861,394. KLX Inc makes up approx 0.06% of Citadel Advisors’s portfolio.Thrivent Financial For Lutherans boosted its stake in KLXI in the latest quarter, The investment management firm added 860 additional shares and now holds a total of 7,525 shares of KLX Inc which is valued at $256,527.Advisors Asset Management boosted its stake in KLXI in the latest quarter, The investment management firm added 6,035 additional shares and now holds a total of 23,302 shares of KLX Inc which is valued at $789,006. KLX Inc makes up approx 0.01% of Advisors Asset Management’s portfolio.Kirr Marbach Co In boosted its stake in KLXI in the latest quarter, The investment management firm added 3,082 additional shares and now holds a total of 232,214 shares of KLX Inc which is valued at $7,728,082. KLX Inc makes up approx 1.55% of Kirr Marbach Co In’s portfolio.

KLX Inc closed down -0.29 points or -0.78% at $37.05 with 3,09,695 shares getting traded on Thursday. Post opening the session at $37.47, the shares hit an intraday low of $36.31 and an intraday high of $37.47 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

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.

Many Wall Street Analysts have commented on KLX Inc. KLX Inc was Upgraded by KeyBanc Capital Mkts to ” Overweight” on Jun 17, 2016. Shares were Reiterated by Deutsche Bank on May 24, 2016 to “Hold” and Lowered the Price Target to $ 37 from a previous price target of $39 .

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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