Otter Creek Advisors LLC Buys 7,617 Shares of KLX Inc. (KLXI)

Otter Creek Advisors LLC increased its stake in shares of KLX Inc. (NASDAQ:KLXI) by 2.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 299,187 shares of the aerospace company’s stock after buying an additional 7,617 shares during the period. KLX accounts for about 2.0% of Otter Creek Advisors LLC’s portfolio, making the stock its 5th largest position. Otter Creek Advisors LLC owned 0.58% of KLX worth $13,374,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the stock. State Treasurer State of Michigan increased its position in KLX by 0.5% in the first quarter. State Treasurer State of Michigan now owns 21,300 shares of the aerospace company’s stock valued at $952,000 after buying an additional 100 shares in the last quarter. Advantus Capital Management Inc increased its position in KLX by 2.7% in the first quarter. Advantus Capital Management Inc now owns 6,723 shares of the aerospace company’s stock valued at $301,000 after buying an additional 175 shares in the last quarter. Mason Street Advisors LLC increased its position in KLX by 0.9% in the first quarter. Mason Street Advisors LLC now owns 24,806 shares of the aerospace company’s stock valued at $1,109,000 after buying an additional 216 shares in the last quarter. Tyers Asset Management LLC increased its position in KLX by 9.1% in the first quarter. Tyers Asset Management LLC now owns 2,688 shares of the aerospace company’s stock valued at $120,000 after buying an additional 224 shares in the last quarter. Finally, Capstone Asset Management Co. increased its position in KLX by 3.3% in the first quarter. Capstone Asset Management Co. now owns 7,817 shares of the aerospace company’s stock valued at $349,000 after buying an additional 250 shares in the last quarter.

Institutional Ownership by Quarter for KLX (NASDAQ:KLXI)

Shares of KLX Inc. (NASDAQ:KLXI) traded down 1.23% during trading on Friday, reaching $49.88. 750,958 shares of the company’s stock were exchanged. The stock has a 50 day moving average price of $48.82 and a 200-day moving average price of $47.26. The stock has a market capitalization of $2.58 billion, a price-to-earnings ratio of 40.55 and a beta of 1.27. KLX Inc. has a 52 week low of $29.28 and a 52 week high of $53.13.

KLX (NASDAQ:KLXI) last issued its quarterly earnings results on Wednesday, May 24th. The aerospace company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.30 by $0.06. The company had revenue of $411.30 million for the quarter, compared to the consensus estimate of $409.95 million. KLX had a net margin of 4.24% and a return on equity of 3.99%. Analysts predict that KLX Inc. will post $1.84 earnings per share for the current year.

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Several equities analysts have recently weighed in on KLXI shares. Zacks Investment Research raised shares of KLX from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a research note on Saturday, April 22nd. Deutsche Bank AG raised their price target on shares of KLX from $51.00 to $52.00 and gave the stock a “hold” rating in a research note on Wednesday, April 19th. Cowen and Company reissued an “outperform” rating and issued a $52.00 price target on shares of KLX in a research note on Wednesday, April 19th. TheStreet raised shares of KLX from a “c+” rating to a “b-” rating in a research note on Wednesday, June 7th. Finally, BidaskClub raised shares of KLX from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $52.67.

In related news, insider Roger Mark Franks sold 2,447 shares of the company’s stock in a transaction dated Friday, May 26th. The shares were sold at an average price of $47.70, for a total transaction of $116,721.90. Following the transaction, the insider now directly owns 21,444 shares in the company, valued at approximately $1,022,878.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.77% of the company’s stock.

About KLX

KLX Inc (KLX) is the distributor and service provider of aerospace fasteners and consumables. The Company offers ranges of aerospace hardware and consumables and inventory management services across the world. The Company operates through two segments: Aerospace Solutions Group (ASG) and Energy Services Group (ESG).

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