Stone Ridge Asset Management LLC Acquires New Holdings in KLX Inc (KLXI)

Stone Ridge Asset Management LLC acquired a new stake in shares of KLX Inc (NASDAQ:KLXI) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 8,698 shares of the aerospace company’s stock, valued at approximately $594,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Profund Advisors LLC grew its holdings in KLX by 10.9% during the fourth quarter. Profund Advisors LLC now owns 7,815 shares of the aerospace company’s stock valued at $533,000 after purchasing an additional 767 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of KLX by 44.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,428 shares of the aerospace company’s stock worth $234,000 after acquiring an additional 1,060 shares during the period. Mutual of America Capital Management LLC boosted its holdings in shares of KLX by 2.6% in the fourth quarter. Mutual of America Capital Management LLC now owns 42,285 shares of the aerospace company’s stock worth $2,886,000 after acquiring an additional 1,084 shares during the period. First Trust Advisors LP boosted its holdings in shares of KLX by 4.8% in the fourth quarter. First Trust Advisors LP now owns 24,406 shares of the aerospace company’s stock worth $1,666,000 after acquiring an additional 1,112 shares during the period. Finally, Strs Ohio boosted its holdings in shares of KLX by 32.4% in the fourth quarter. Strs Ohio now owns 4,900 shares of the aerospace company’s stock worth $334,000 after acquiring an additional 1,200 shares during the period. 98.44% of the stock is owned by institutional investors and hedge funds.

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KLX Inc (NASDAQ KLXI) opened at $68.97 on Monday. The company has a debt-to-equity ratio of 0.52, a current ratio of 7.06 and a quick ratio of 2.17. KLX Inc has a twelve month low of $42.45 and a twelve month high of $73.21. The company has a market capitalization of $3,499.54, a price-to-earnings ratio of 25.74, a PEG ratio of 2.98 and a beta of 1.26.

KLX (NASDAQ:KLXI) last issued its quarterly earnings data on Tuesday, March 6th. The aerospace company reported $1.00 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.19. KLX had a return on equity of 6.03% and a net margin of 3.07%. The company had revenue of $442.20 million for the quarter, compared to the consensus estimate of $450.87 million. The company’s revenue for the quarter was up 18.4% compared to the same quarter last year. research analysts anticipate that KLX Inc will post 4.07 EPS for the current fiscal year.

A number of research firms have recently commented on KLXI. ValuEngine lowered KLX from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Zacks Investment Research raised KLX from a “sell” rating to a “buy” rating and set a $80.00 price target for the company in a report on Thursday, March 15th. BidaskClub lowered KLX from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 7th. Buckingham Research lowered KLX from a “buy” rating to a “neutral” rating in a report on Tuesday, December 26th. Finally, SunTrust Banks reaffirmed a “buy” rating and issued a $78.00 price target (up from $65.00) on shares of KLX in a report on Tuesday, January 2nd. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $68.00.

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KLX Company Profile

KLX Inc, together with its subsidiaries, provides aerospace fasteners, consumables, and logistics services worldwide. It operates in two segments, Aerospace Solutions Group (ASG) and Energy Services Group (ESG). The ASG segment distributes bolts, clips, hinges, rings, screws, carbon-faced seals, gaskets, O-rings, and others; chemicals, sealants and adhesives, lubricants, paints, cleaners, and degreasers; Honeywell proprietary parts; and bearings, tooling, electrical components, and clamps.

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Institutional Ownership by Quarter for KLX (NASDAQ:KLXI)

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