Geode Capital Management LLC Increases Stake in Anixter International Inc. (NYSE:AXE)

Geode Capital Management LLC increased its stake in shares of Anixter International Inc. (NYSE:AXE) by 14.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 252,197 shares of the technology company’s stock after buying an additional 32,708 shares during the period. Geode Capital Management LLC’s holdings in Anixter International were worth $19,999,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Anixter International by 12.0% in the first quarter. Vanguard Group Inc. now owns 2,823,375 shares of the technology company’s stock valued at $223,894,000 after buying an additional 303,406 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in shares of Anixter International during the first quarter valued at approximately $327,000. Fiduciary Management Inc. WI increased its position in shares of Anixter International by 6.7% in the first quarter. Fiduciary Management Inc. WI now owns 1,196,538 shares of the technology company’s stock valued at $94,885,000 after buying an additional 75,105 shares during the last quarter. Thrivent Financial For Lutherans increased its position in shares of Anixter International by 5.0% in the first quarter. Thrivent Financial For Lutherans now owns 16,090 shares of the technology company’s stock valued at $1,276,000 after buying an additional 770 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC increased its position in shares of Anixter International by 3.9% in the first quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 96,395 shares of the technology company’s stock valued at $7,644,000 after buying an additional 3,631 shares during the last quarter. 86.46% of the stock is owned by institutional investors and hedge funds.

Anixter International Inc. (AXE) traded down 0.70% during midday trading on Tuesday, hitting $77.70. The company had a trading volume of 102,067 shares. The firm has a market capitalization of $2.58 billion, a P/E ratio of 17.75 and a beta of 1.98. Anixter International Inc. has a 1-year low of $58.55 and a 1-year high of $88.00. The company has a 50 day moving average price of $78.37 and a 200 day moving average price of $79.56.

Anixter International (NYSE:AXE) last posted its quarterly earnings data on Tuesday, July 25th. The technology company reported $1.36 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.36. Anixter International had a return on equity of 13.09% and a net margin of 1.91%. The company had revenue of $2 billion for the quarter, compared to analysts’ expectations of $2.01 billion. During the same period in the previous year, the firm posted $1.32 EPS. Anixter International’s revenue was up 2.3% compared to the same quarter last year. Equities research analysts forecast that Anixter International Inc. will post $5.35 earnings per share for the current fiscal year.

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AXE has been the topic of several research analyst reports. Wolfe Research initiated coverage on Anixter International in a research report on Tuesday, July 11th. They issued an “outperform” rating and a $88.00 price objective on the stock. Zacks Investment Research downgraded Anixter International from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 27th. Wells Fargo & Company restated a “market perform” rating and issued a $82.00 price objective (down from $89.00) on shares of Anixter International in a research report on Wednesday, July 12th. Finally, BidaskClub upgraded Anixter International from a “sell” rating to a “hold” rating in a research report on Friday, June 16th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $86.00.

In other news, Director Samuel Zell acquired 526,277 shares of the stock in a transaction that occurred on Wednesday, July 26th. The shares were bought at an average cost of $81.34 per share, for a total transaction of $42,807,371.18. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP William Standish sold 1,000 shares of Anixter International stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $78.60, for a total value of $78,600.00. The disclosure for this sale can be found here. Over the last quarter, insiders purchased 556,277 shares of company stock worth $42,812,881 and sold 3,000 shares worth $232,350. 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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