Anixter International Inc. (NYSE:AXE) posted its quarterly earnings results on Tuesday. The technology company reported $1.36 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.36, Bloomberg Earnings reports. Anixter International had a net margin of 1.67% and a return on equity of 13.31%. The company had revenue of $2 billion for the quarter, compared to the consensus estimate of $2.01 billion. During the same period last year, the company posted $1.32 EPS. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year.

Shares of Anixter International (NYSE AXE) traded up 2.98% on Tuesday, reaching $81.20. 16,632 shares of the company were exchanged. The firm has a market capitalization of $2.70 billion, a PE ratio of 21.30 and a beta of 1.98. Anixter International has a 12-month low of $56.23 and a 12-month high of $88.00. The stock’s 50-day moving average is $77.50 and its 200 day moving average is $79.64.

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AXE has been the topic of a number of research analyst reports. Wolfe Research initiated coverage on shares of Anixter International in a research note on Tuesday, July 11th. They issued an “outperform” rating and a $88.00 price target on the stock. Zacks Investment Research downgraded shares of Anixter International from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 27th. BidaskClub upgraded shares of Anixter International from a “sell” rating to a “hold” rating in a research note on Friday, June 16th. Finally, Wells Fargo & Company restated a “market perform” rating and issued a $82.00 price target (down from $89.00) on shares of Anixter International in a research note on Wednesday, July 12th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $86.00.

In other Anixter International news, Director F Philip Handy sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 26th. The stock was sold at an average price of $83.97, for a total value of $1,679,400.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Robert J. Eck sold 4,995 shares of the company’s stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $80.18, for a total value of $400,499.10. The disclosure for this sale can be found here. In the last ninety days, insiders acquired 30,000 shares of company stock valued at $5,510 and sold 27,995 shares valued at $2,312,249. 14.70% of the stock is owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its stake in Anixter International by 44,948.8% in the first quarter. BlackRock Inc. now owns 3,703,911 shares of the technology company’s stock worth $293,721,000 after buying an additional 3,695,689 shares during the period. Vanguard Group Inc. raised its stake in Anixter International by 12.0% in the first quarter. Vanguard Group Inc. now owns 2,823,375 shares of the technology company’s stock worth $223,894,000 after buying an additional 303,406 shares during the period. Norges Bank bought a new stake in Anixter International during the fourth quarter worth $22,109,000. Morgan Stanley raised its stake in Anixter International by 119.1% in the first quarter. Morgan Stanley now owns 192,423 shares of the technology company’s stock worth $15,258,000 after buying an additional 104,615 shares during the period. Finally, AQR Capital Management LLC bought a new stake in Anixter International during the first quarter worth $7,981,000. 86.91% of the stock is owned by hedge funds and other institutional investors.

About Anixter International

Anixter International Inc is engaged in the distribution of enterprise cabling and security solutions, electrical and electronic wire and cable products and utility power solutions. The Company operates through three segments: Network & Security Solutions (NSS), Electrical & Electronic Solutions (EES), and Utility Power Solutions (UPS).

Earnings History for Anixter International (NYSE:AXE)

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