Insider Selling: Anixter International CEO Unloads 12,600 Shares of Stock (AXE)
Anixter International (NYSE:AXE) CEO Robert J. Eck sold 12,600 shares of the company’s stock on the open market in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $85.44, for a total value of $1,076,544.00. Following the completion of the sale, the chief executive officer now directly owns 138,336 shares in the company, valued at approximately $11,819,428. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Anixter International (NYSE:AXE) traded up 0.37% during mid-day trading on Friday, hitting $86.31. The stock had a trading volume of 449,736 shares. Anixter International has a one year low of $80.26 and a one year high of $115.84. The stock’s 50-day moving average is $94.38 and its 200-day moving average is $97.87. The company has a market cap of $2.827 billion and a P/E ratio of 13.41.
Anixter International (NYSE:AXE) last released its earnings data on Tuesday, July 29th. The company reported $1.57 earnings per share for the quarter, missing the analysts’ 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 last year, the company posted $1.39 earnings per share. Anixter International’s revenue was up .4% compared to the same quarter last year. 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 equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price 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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