Insider Selling: Samuel Zell Sells 1,000,000 Shares of Anixter International Stock (AXE)
Anixter International (NYSE:AXE) Director Samuel Zell sold 1,000,000 shares of the company’s stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $87.14, for a total transaction of $87,140,000.00. Following the transaction, the director now directly owns 3,994,015 shares of the company’s stock, valued at approximately $348,038,467. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Shares of Anixter International (NYSE:AXE) traded down 0.38% during mid-day trading on Thursday, hitting $85.99. 583,138 shares of the company’s stock traded hands. Anixter International has a 52-week low of $80.26 and a 52-week high of $115.84. The stock’s 50-day moving average is $94.76 and its 200-day moving average is $97.9. The company has a market cap of $2.817 billion and a P/E ratio of 13.46.
Anixter International (NYSE:AXE) last announced its earnings results on Tuesday, July 29th. The company reported $1.57 EPS for the quarter, missing the Thomson Reuters consensus estimate of $1.64 by $0.07. The company had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.64 billion. During the same quarter in the prior year, the company posted $1.39 earnings per share. The company’s quarterly revenue was up .4% on a year-over-year basis. Analysts expect that Anixter International will post $6.32 EPS for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at Robert W. Baird cut their price target on shares of Anixter International from $108.00 to $102.00 in a research note on Thursday, July 31st. Two analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $95.75.
Anixter International Inc is engaged in the distribution of communications and security products, electrical wire and cable products, fasteners and small parts through Anixter Inc and its subsidiaries (NYSE:AXE).
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