Revenue Update on Anixter International(NYSE:AXE)

Anixter International(NYSE:AXE) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Jul 26, 2016. Company reported revenue of $1.96B. Analysts estimated a revenue of $1.96B. Earnings per share were $1.32. Analysts had estimated an EPS of $1.32.

Anixter International (AXE) made into the market gainers list on Fridays trading session with the shares advancing 0.71% or 0.43 points. Due to strong positive momentum, the stock ended at $61.28, which is also near the day’s high of $61.75. The stock began the session at $60.84 and the volume stood at 2,19,804 shares. The 52-week high of the shares is $70.29 and the 52 week low is $37.605. The company has a current market capitalization of $2,025 M and it has 3,30,51,985 shares in outstanding.

Several Insider Transactions has been reported to the SEC. On Feb 16, 2016, Robert J. Eck (CEO) purchased 8,000 shares at $39.47 per share price.Also, On Dec 2, 2015, Rodney Arthur Smith (EVP – Human Resources) sold 500 shares at $68.75 per share price.On Aug 31, 2015, Samuel Zell (director 10% owner) purchased 1,850,000 shares at $60.60 per share price, according to the Form-4 filing with the securities and exchange commission.

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.

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