Monarch Partners Asset Management LLC purchased a new stake in shares of KLX Inc. (NASDAQ:KLXI) during the second quarter, Holdings Channel reports. The firm purchased 71,910 shares of the company’s stock, valued at approximately $2,229,000.
A number of other large investors have also made changes to their positions in KLXI. LS Investment Advisors LLC raised its stake in shares of KLX by 76.4% in the second quarter. LS Investment Advisors LLC now owns 3,218 shares of the company’s stock valued at $100,000 after buying an additional 1,394 shares during the period. Creative Planning raised its stake in shares of KLX by 0.3% in the second quarter. Creative Planning now owns 3,600 shares of the company’s stock valued at $112,000 after buying an additional 10 shares during the period. 1st Global Advisors Inc. raised its stake in shares of KLX by 3.4% in the second quarter. 1st Global Advisors Inc. now owns 7,047 shares of the company’s stock valued at $218,000 after buying an additional 230 shares during the period. Barclays PLC raised its stake in shares of KLX by 1,026.2% in the first quarter. Barclays PLC now owns 9,145 shares of the company’s stock valued at $293,000 after buying an additional 8,333 shares during the period. Finally, OMERS ADMINISTRATION Corp acquired a new stake in shares of KLX during the first quarter valued at about $559,000. 99.44% of the stock is currently owned by hedge funds and other institutional investors.
Shares of KLX Inc. (NASDAQ:KLXI) traded up 3.16% on Wednesday, reaching $35.62. 380,006 shares of the company traded hands. The company’s market capitalization is $1.88 billion. KLX Inc. has a one year low of $25.33 and a one year high of $41.00. The firm’s 50 day moving average is $35.37 and its 200 day moving average is $33.35.
KLX (NASDAQ:KLXI) last posted its earnings results on Wednesday, August 24th. The company reported $0.49 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.22. KLX had a positive return on equity of 3.83% and a negative net margin of 26.66%. The company earned $391.40 million during the quarter, compared to the consensus estimate of $402.30 million. Analysts expect that KLX Inc. will post $0.92 earnings per share for the current fiscal year.
KLXI has been the topic of several analyst reports. KeyCorp raised shares of KLX from a “sector weight” rating to an “overweight” rating and set a $40.00 target price on the stock in a report on Friday, June 17th. They noted that the move was a valuation call. Zacks Investment Research raised shares of KLX from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a report on Tuesday, August 23rd. Finally, Jefferies Group reaffirmed a “hold” rating on shares of KLX in a report on Friday, August 5th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $36.78.
KLX Company Profile
KLX Inc (KLX) is the distributor and service provider of aerospace fasteners and consumables. The Company offers ranges of aerospace hardware and consumables and inventory management services across the world. The Company operates through two segments: Aerospace Solutions Group (ASG) and Energy Services Group (ESG).
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