Anixter International Inc. (AXE) Stake Increased by BlackRock Inc.

BlackRock Inc. lifted its position in shares of Anixter International Inc. (NYSE:AXE) by 6.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,458,383 shares of the technology company’s stock after buying an additional 277,414 shares during the period. BlackRock Inc. owned approximately 13.32% of Anixter International worth $242,135,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. PNC Financial Services Group Inc. increased its holdings in shares of Anixter International by 5.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,582 shares of the technology company’s stock worth $195,000 after buying an additional 192 shares during the last quarter. Strs Ohio increased its holdings in shares of Anixter International by 1.2% during the 4th quarter. Strs Ohio now owns 16,800 shares of the technology company’s stock worth $912,000 after buying an additional 200 shares during the last quarter. Piedmont Investment Advisors Inc. increased its holdings in shares of Anixter International by 3.4% during the 4th quarter. Piedmont Investment Advisors Inc. now owns 6,864 shares of the technology company’s stock worth $373,000 after buying an additional 223 shares during the last quarter. Comerica Bank increased its holdings in shares of Anixter International by 0.8% during the 4th quarter. Comerica Bank now owns 28,586 shares of the technology company’s stock worth $1,737,000 after buying an additional 225 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Anixter International during the 4th quarter worth approximately $27,000. Institutional investors and hedge funds own 85.59% of the company’s stock.

In related news, Director Robert J. Eck sold 32,264 shares of Anixter International stock in a transaction that occurred on Thursday, February 21st. The shares were sold at an average price of $61.55, for a total value of $1,985,849.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 13.60% of the stock is currently owned by company insiders.

Anixter International stock opened at $56.30 on Friday. Anixter International Inc. has a fifty-two week low of $50.05 and a fifty-two week high of $80.50. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.95 and a quick ratio of 1.06. The company has a market capitalization of $1.89 billion, a P/E ratio of 9.66, a P/E/G ratio of 1.17 and a beta of 1.87.

Anixter International (NYSE:AXE) last posted its earnings results on Tuesday, January 29th. The technology company reported $1.53 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.45 by $0.08. Anixter International had a net margin of 1.86% and a return on equity of 12.96%. The firm had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $2.11 billion. During the same quarter last year, the firm earned $1.41 EPS. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. On average, sell-side analysts expect that Anixter International Inc. will post 6.1 EPS for the current year.

A number of brokerages have recently issued reports on AXE. Zacks Investment Research upgraded shares of Anixter International from a “sell” rating to a “hold” rating in a report on Monday, December 3rd. TheStreet downgraded shares of Anixter International from a “b-” rating to a “c+” rating in a report on Monday, December 10th. ValuEngine downgraded shares of Anixter International from a “sell” rating to a “strong sell” rating in a report on Wednesday, January 30th. Finally, Wells Fargo & Co dropped their target price on shares of Anixter International from $70.00 to $60.00 and set a “market perform” rating for the company in a report on Friday, December 21st. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $70.50.

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Anixter International Profile

Anixter International, Inc engages in the distribution of solutions for network and security, electrical and electronic, and utility power. It operates through following segments: Network and Security Solutions (NSS), Electrical and Electronic Solutions (EES), and Utility Power Solutions (UPS). The NSS segment focuses on the supply of products and customized supply chain solutions to customers in a range of industries including technology, finance, telecommunications service providers, transportation, education, government, healthcare, and retail.

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Institutional Ownership by Quarter for Anixter International (NYSE:AXE)

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