Earnest Partners LLC acquired a new position in Anixter International Inc. (NYSE:AXE) during the fourth quarter, according to the company in its most recent filing with the SEC. The fund acquired 626,129 shares of the technology company’s stock, valued at approximately $47,586,000. Earnest Partners LLC owned approximately 1.88% of Anixter International at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Anixter International by 50.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,911 shares of the technology company’s stock valued at $145,000 after purchasing an additional 640 shares in the last quarter. Global X Management Co. LLC raised its stake in shares of Anixter International by 75.3% in the 4th quarter. Global X Management Co. LLC now owns 2,305 shares of the technology company’s stock valued at $175,000 after purchasing an additional 990 shares in the last quarter. Teacher Retirement System of Texas acquired a new stake in shares of Anixter International in the 3rd quarter valued at about $209,000. Connable Office Inc. acquired a new stake in shares of Anixter International in the 4th quarter valued at about $258,000. Finally, Pacer Advisors Inc. acquired a new stake in shares of Anixter International in the 3rd quarter valued at about $290,000. Hedge funds and other institutional investors own 92.50% of the company’s stock.
A number of equities research analysts have recently issued reports on AXE shares. Zacks Investment Research upgraded shares of Anixter International from a “sell” rating to a “hold” rating in a research note on Tuesday, December 26th. TheStreet upgraded shares of Anixter International from a “c+” rating to a “b-” rating in a research note on Wednesday, January 10th. ValuEngine upgraded shares of Anixter International from a “hold” rating to a “buy” rating in a research note on Friday, December 29th. Finally, Wells Fargo & Co restated a “market perform” rating and issued a $90.00 target price (up previously from $78.00) on shares of Anixter International in a research note on Wednesday, January 31st. One research analyst has rated the stock with a sell rating, two have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Anixter International has an average rating of “Buy” and a consensus target price of $90.00.
Shares of Anixter International Inc. (NYSE AXE) opened at $78.50 on Wednesday. The stock has a market cap of $2,615.17, a PE ratio of 15.22, a PEG ratio of 1.24 and a beta of 2.07. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.10 and a quick ratio of 1.18. Anixter International Inc. has a 12 month low of $62.40 and a 12 month high of $88.85.
Anixter International (NYSE:AXE) last issued its earnings results on Tuesday, January 30th. The technology company reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.10. The business had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.99 billion. Anixter International had a net margin of 1.38% and a return on equity of 12.39%. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.31 EPS. sell-side analysts forecast that Anixter International Inc. will post 6.35 earnings per share for the current year.
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Anixter International Company Profile
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).
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