Schwab Charles Investment Management Inc. Sells 9,580 Shares of Anixter International Inc. (NYSE:AXE)

Schwab Charles Investment Management Inc. lowered its stake in shares of Anixter International Inc. (NYSE:AXE) by 5.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 179,899 shares of the technology company’s stock after selling 9,580 shares during the period. Schwab Charles Investment Management Inc. owned 0.54% of Anixter International worth $14,266,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. State of Alaska Department of Revenue increased its stake in shares of Anixter International by 2.6% in the first quarter. State of Alaska Department of Revenue now owns 3,160 shares of the technology company’s stock valued at $250,000 after buying an additional 80 shares during the period. Airain ltd increased its stake in shares of Anixter International by 4.2% in the first quarter. Airain ltd now owns 3,634 shares of the technology company’s stock valued at $288,000 after buying an additional 146 shares during the period. State Board of Administration of Florida Retirement System increased its stake in shares of Anixter International by 1.3% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 14,208 shares of the technology company’s stock valued at $1,152,000 after buying an additional 186 shares during the period. Louisiana State Employees Retirement System increased its stake in shares of Anixter International by 1.8% in the first quarter. Louisiana State Employees Retirement System now owns 11,600 shares of the technology company’s stock valued at $920,000 after buying an additional 200 shares during the period. Finally, Arizona State Retirement System increased its stake 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 valued at $1,179,000 after buying an additional 200 shares during the period. 86.91% of the stock is owned by institutional investors.

Shares of Anixter International Inc. (AXE) opened at 78.05 on Monday. The company’s 50 day moving average is $76.88 and its 200 day moving average is $80.05. The company has a market cap of $2.59 billion, a P/E ratio of 20.47 and a beta of 1.98. Anixter International Inc. has a 12 month low of $56.23 and a 12 month high of $88.00.

Anixter International (NYSE:AXE) last posted its earnings results on Tuesday, April 25th. The technology company reported $1.09 EPS for the quarter, beating the Zacks’ consensus estimate of $1.00 by $0.09. Anixter International had a net margin of 1.67% and a return on equity of 13.31%. The company had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter in the prior year, the company posted $0.92 earnings per share. Anixter International’s revenue for the quarter was up 4.4% compared to the same quarter last year. On average, equities research analysts predict that Anixter International Inc. will post $5.35 EPS for the current fiscal year.

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Several brokerages recently weighed in on AXE. Zacks Investment Research downgraded shares of Anixter International from a “hold” rating to a “sell” rating in a research report on Friday. BidaskClub raised shares of Anixter International from a “sell” rating to a “hold” rating in a research report on Friday, June 16th. Wells Fargo & Company reissued a “market perform” rating and set a $82.00 price target (down previously from $89.00) on shares of Anixter International in a research report on Wednesday, July 12th. Finally, Wolfe Research began coverage on shares of Anixter International in a research report on Tuesday, July 11th. They set an “outperform” rating and a $88.00 price target for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $86.00.

In other Anixter International news, VP William Standish sold 1,000 shares of the firm’s stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $76.20, for a total value of $76,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director F Philip Handy sold 20,000 shares of the firm’s stock in a transaction on Wednesday, April 26th. The stock was sold at an average price of $83.97, for a total transaction of $1,679,400.00. The disclosure for this sale can be found here. In the last three months, insiders have purchased 30,000 shares of company stock valued at $5,510 and have sold 31,930 shares valued at $2,629,499. Corporate insiders own 14.70% of the company’s stock.

About Anixter International

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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