Sterling Capital Management LLC Trims Stake in Anixter International Inc. (AXE)

Sterling Capital Management LLC trimmed its position in Anixter International Inc. (NYSE:AXE) by 6.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 282,342 shares of the technology company’s stock after selling 19,374 shares during the quarter. Sterling Capital Management LLC owned about 0.85% of Anixter International worth $22,079,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the company. Amalgamated Bank increased its holdings in shares of Anixter International by 1.3% in the second quarter. Amalgamated Bank now owns 3,973 shares of the technology company’s stock worth $311,000 after purchasing an additional 51 shares during the last quarter. OxFORD Asset Management LLP increased its holdings in shares of Anixter International by 1.5% in the second quarter. OxFORD Asset Management LLP now owns 4,604 shares of the technology company’s stock worth $360,000 after purchasing an additional 68 shares during the last quarter. US Bancorp DE increased its holdings in shares of Anixter International by 1.6% in the second quarter. US Bancorp DE now owns 4,527 shares of the technology company’s stock worth $354,000 after purchasing an additional 72 shares during the last quarter. Arizona State Retirement System increased its holdings in shares of Anixter International by 1.4% in the first quarter. Arizona State Retirement System now owns 14,864 shares of the technology company’s stock worth $1,179,000 after purchasing an additional 200 shares during the last quarter. Finally, Strs Ohio increased its holdings in shares of Anixter International by 1.3% in the second quarter. Strs Ohio now owns 15,900 shares of the technology company’s stock worth $1,243,000 after purchasing an additional 200 shares during the last quarter. 85.53% of the stock is currently owned by hedge funds and other institutional investors.

Anixter International Inc. (AXE) traded up 0.75% on Friday, reaching $86.95. The company had a trading volume of 18,495 shares. The company’s 50-day moving average price is $79.17 and its 200 day moving average price is $78.11. The firm has a market capitalization of $2.89 billion, a P/E ratio of 19.87 and a beta of 2.03. Anixter International Inc. has a 1-year low of $59.95 and a 1-year high of $88.30.

Anixter International (NYSE:AXE) last released its quarterly earnings data on Tuesday, July 25th. The technology company reported $1.36 EPS for the quarter, meeting the Zacks’ consensus estimate of $1.36. The company had revenue of $2 billion during the quarter, compared to the consensus estimate of $2.01 billion. Anixter International had a net margin of 1.91% and a return on equity of 13.09%. Anixter International’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.32 EPS. On average, equities analysts forecast that Anixter International Inc. will post $5.35 EPS for the current year.

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In other news, CEO Robert J. Eck sold 11,000 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $85.31, for a total transaction of $938,410.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Samuel Zell purchased 526,277 shares of the business’s stock in a transaction dated Wednesday, July 26th. The shares were purchased at an average price of $81.34 per share, with a total value of $42,807,371.18. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 550,277 shares of company stock valued at $42,811,566 and sold 27,600 shares valued at $2,255,610. 14.70% of the stock is currently owned by corporate insiders.

Several equities research analysts have recently issued reports on the company. Wells Fargo & Company reaffirmed a “market perform” rating and issued a $82.00 target price (down from $89.00) on shares of Anixter International in a report on Wednesday, July 12th. Zacks Investment Research raised Anixter International from a “sell” rating to a “hold” rating in a report on Tuesday, August 29th. Wolfe Research assumed coverage on Anixter International in a report on Tuesday, July 11th. They issued an “outperform” rating and a $88.00 target price on the stock. BidaskClub cut Anixter International from a “hold” rating to a “sell” rating in a report on Monday, July 24th. Finally, Robert W. Baird reaffirmed a “hold” rating and issued a $86.00 target price on shares of Anixter International in a report on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $86.00.

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

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