Alliancebernstein L.P. decreased its position in Anixter International Inc. (NYSE:AXE) by 15.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,237,424 shares of the technology company’s stock after selling 232,145 shares during the quarter. Alliancebernstein L.P.’s holdings in Anixter International were worth $94,044,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also recently added to or reduced their stakes in AXE. Pzena Investment Management LLC increased its stake in Anixter International by 77.7% in the 4th quarter. Pzena Investment Management LLC now owns 860,348 shares of the technology company’s stock worth $65,386,000 after acquiring an additional 376,316 shares during the last quarter. Sei Investments Co. boosted its holdings in shares of Anixter International by 40,262.2% in the 4th quarter. Sei Investments Co. now owns 232,486 shares of the technology company’s stock worth $15,537,000 after purchasing an additional 231,910 shares during the period. Jennison Associates LLC boosted its holdings in shares of Anixter International by 14.2% in the 4th quarter. Jennison Associates LLC now owns 770,566 shares of the technology company’s stock worth $58,563,000 after purchasing an additional 95,781 shares during the period. Channing Capital Management LLC boosted its holdings in shares of Anixter International by 11.6% in the 4th quarter. Channing Capital Management LLC now owns 686,577 shares of the technology company’s stock worth $52,180,000 after purchasing an additional 71,638 shares during the period. Finally, Wells Fargo & Company MN boosted its holdings in shares of Anixter International by 28.0% in the 4th quarter. Wells Fargo & Company MN now owns 307,594 shares of the technology company’s stock worth $23,378,000 after purchasing an additional 67,232 shares during the period. 90.94% of the stock is currently owned by institutional investors and hedge funds.
In related news, CEO Robert J. Eck sold 7,800 shares of the business’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $80.12, for a total transaction of $624,936.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders have sold 31,174 shares of company stock valued at $2,390,822. 14.70% of the stock is owned by company insiders.
Anixter International (NYSE:AXE) last announced its earnings results on Tuesday, January 30th. The technology company reported $1.41 EPS for the quarter, topping the Zacks’ consensus estimate of $1.31 by $0.10. The firm had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.99 billion. Anixter International had a return on equity of 12.39% and a net margin of 1.38%. The company’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.31 EPS. research analysts forecast that Anixter International Inc. will post 6.35 earnings per share for the current year.
A number of equities analysts have recently commented on the company. ValuEngine upgraded Anixter International from a “hold” rating to a “buy” rating in a report on Friday, December 29th. Zacks Investment Research upgraded Anixter International from a “hold” rating to a “strong-buy” rating and set a $96.00 target price for the company in a report on Thursday, February 1st. TheStreet cut Anixter International from a “b-” rating to a “c” rating in a report on Tuesday, November 21st. Finally, Wells Fargo & Co reiterated a “market perform” rating and issued a $90.00 target price (up previously from $78.00) on shares of Anixter International in a report on Wednesday, January 31st. One analyst has rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $90.00.
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Anixter International 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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