Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of KLX Inc. (NASDAQ:KLXI) by 23.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 50,617 shares of the aerospace company’s stock after purchasing an additional 9,738 shares during the quarter. Migdal Insurance & Financial Holdings Ltd. owned 0.10% of KLX worth $2,478,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sciencast Management LP increased its position in shares of KLX by 4.3% during the 2nd quarter. Sciencast Management LP now owns 4,714 shares of the aerospace company’s stock valued at $236,000 after purchasing an additional 196 shares during the last quarter. BlueCrest Capital Management Ltd purchased a new position in KLX during the 2nd quarter valued at $291,000. State Street Corp boosted its holdings in KLX by 4.1% during the 2nd quarter. State Street Corp now owns 2,256,773 shares of the aerospace company’s stock valued at $112,850,000 after acquiring an additional 88,952 shares during the period. Gotham Asset Management LLC purchased a new position in KLX during the 2nd quarter valued at $995,000. Finally, Shelton Capital Management purchased a new stake in shares of KLX in the 2nd quarter worth $200,000.
Shares of KLX Inc. (NASDAQ KLXI) traded up 0.81% on Wednesday, hitting $54.54. The stock had a trading volume of 52,845 shares. The stock has a 50 day moving average price of $50.68 and a 200-day moving average price of $49.48. The company has a market cap of $2.80 billion, a price-to-earnings ratio of 36.85 and a beta of 1.32. KLX Inc. has a 12-month low of $33.17 and a 12-month high of $55.05.
KLX (NASDAQ:KLXI) last posted its earnings results on Wednesday, August 23rd. The aerospace company reported $0.73 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.06. KLX had a return on equity of 4.43% and a net margin of 4.83%. The business had revenue of $430.60 million during the quarter, compared to the consensus estimate of $423.08 million. KLX’s revenue was up 13.6% compared to the same quarter last year. On average, equities analysts expect that KLX Inc. will post $3.07 earnings per share for the current year.
KLXI has been the subject of several research reports. BidaskClub upgraded KLX from a “hold” rating to a “buy” rating in a report on Saturday, July 8th. Jefferies Group LLC reiterated a “hold” rating and issued a $51.00 target price (down from $55.00) on shares of KLX in a report on Thursday, August 24th. Zacks Investment Research cut KLX from a “hold” rating to a “sell” rating in a research note on Tuesday, August 29th. Finally, Cowen and Company restated a “buy” rating and set a $52.00 price objective on shares of KLX in a research note on Monday, July 17th. Two analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. KLX currently has an average rating of “Hold” and a consensus price target of $55.00.
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).
Receive News & Ratings for KLX Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KLX Inc. and related companies with our FREE daily email newsletter.