Alliancebernstein L.P. Sells 122,648 Shares of Anixter International Inc. (AXE)

Alliancebernstein L.P. lowered its stake in Anixter International Inc. (NYSE:AXE) by 8.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,397,821 shares of the technology company’s stock after selling 122,648 shares during the period. Alliancebernstein L.P. owned approximately 4.18% of Anixter International worth $98,267,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. boosted its stake in shares of Anixter International by 33.2% in the second quarter. PNC Financial Services Group Inc. now owns 2,917 shares of the technology company’s stock valued at $185,000 after buying an additional 727 shares in the last quarter. Bridgewater Associates LP purchased a new stake in shares of Anixter International in the second quarter valued at approximately $208,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of Anixter International in the second quarter valued at approximately $389,000. Ontario Teachers Pension Plan Board purchased a new stake in shares of Anixter International in the second quarter valued at approximately $419,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of Anixter International in the second quarter valued at approximately $444,000. 90.94% of the stock is currently owned by institutional investors and hedge funds.

Anixter International stock opened at $62.91 on Friday. The company has a current ratio of 1.60, a quick ratio of 0.90 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $2.04 billion, a P/E ratio of 12.19, a price-to-earnings-growth ratio of 1.33 and a beta of 2.08. Anixter International Inc. has a 1-year low of $56.25 and a 1-year high of $88.85.

Anixter International (NYSE:AXE) last posted its earnings results on Tuesday, October 23rd. The technology company reported $1.61 EPS for the quarter, topping the Zacks’ consensus estimate of $1.57 by $0.04. The company had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.11 billion. Anixter International had a return on equity of 12.90% and a net margin of 1.39%. Anixter International’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.30 earnings per share. On average, equities analysts anticipate that Anixter International Inc. will post 5.75 earnings per share for the current fiscal year.

A number of analysts recently weighed in on the company. ValuEngine downgraded Anixter International from a “sell” rating to a “strong sell” rating in a research note on Tuesday, October 2nd. TheStreet upgraded Anixter International from a “c+” rating to a “b” rating in a research note on Wednesday, October 3rd. Finally, Zacks Investment Research upgraded Anixter International from a “sell” rating to a “hold” rating in a research note on Thursday, November 15th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $85.50.

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Anixter International Company Profile

Anixter International Inc, through its subsidiary, Anixter Inc, distributes enterprise cabling and security solutions, electrical and electronic wire and cable products, and utility power solutions. Its Network & Security Solutions segment offers copper and fiber optic cable and connectivity, access control, video surveillance, intrusion and fire/life safety, cabinet, power, cable management, wireless, professional audio/video, voice and networking switche, and other ancillary products for technology, finance, telecommunications service provider, transportation, education, government, healthcare, and retail industries.

See Also: Depreciation

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

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