State Street Corp Increases Stake in Anixter International Inc. (AXE)

State Street Corp grew its holdings in Anixter International Inc. (NYSE:AXE) by 2.8% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 743,423 shares of the technology company’s stock after buying an additional 20,422 shares during the period. State Street Corp owned 2.24% of Anixter International worth $58,132,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Advisor Group Inc. raised its holdings in shares of Anixter International by 110.9% in the second quarter. Advisor Group Inc. now owns 1,354 shares of the technology company’s stock valued at $106,000 after buying an additional 712 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Anixter International in the second quarter valued at about $158,000. Riverhead Capital Management LLC raised its holdings in shares of Anixter International by 77.6% in the second quarter. Riverhead Capital Management LLC now owns 2,131 shares of the technology company’s stock valued at $167,000 after buying an additional 931 shares during the last quarter. Flinton Capital Management LLC raised its holdings in shares of Anixter International by 64.0% in the second quarter. Flinton Capital Management LLC now owns 2,788 shares of the technology company’s stock valued at $218,000 after buying an additional 1,088 shares during the last quarter. Finally, Cigna Investments Inc. New purchased a new stake in shares of Anixter International in the second quarter valued at about $220,000. 85.37% of the stock is owned by institutional investors and hedge funds.

AXE has been the topic of a number of recent analyst reports. Zacks Investment Research lowered shares of Anixter International from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Robert W. Baird reiterated a “hold” rating and set a $86.00 price target on shares of Anixter International in a research note on Friday, September 1st. BidaskClub lowered shares of Anixter International from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 5th. Wolfe Research initiated coverage on shares of Anixter International in a research note on Tuesday, July 11th. They set an “outperform” rating and a $88.00 price target on the stock. Finally, Wells Fargo & Company reiterated a “market perform” rating and set a $82.00 price target (down from $89.00) on shares of Anixter International in a research note on Wednesday, July 12th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $86.00.

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Anixter International (NYSE:AXE) last issued its quarterly earnings data on Tuesday, October 24th. The technology company reported $1.30 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.51 by ($0.21). The firm had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $2.06 billion. Anixter International had a net margin of 1.86% and a return on equity of 12.52%. The company’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.38 earnings per share.

In other Anixter International news, CEO Robert J. Eck sold 11,000 shares of the business’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $85.31, for a total transaction of $938,410.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP William Standish sold 1,000 shares of the business’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $76.95, for a total transaction of $76,950.00. The disclosure for this sale can be found here. Over the last quarter, insiders purchased 24,000 shares of company stock worth $4,195 and sold 30,200 shares worth $2,488,458. Company insiders own 14.70% of the company’s stock.

Anixter International Company 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).

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

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