KLX Inc. (KLXI) Stake Maintained by Arizona State Retirement System
Arizona State Retirement System maintained its position in KLX Inc. (NASDAQ:KLXI) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 21,800 shares of the aerospace company’s stock at the end of the second quarter. Arizona State Retirement System’s holdings in KLX were worth $1,090,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in KLXI. Emerald Mutual Fund Advisers Trust increased its position in KLX by 21.8% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 488,046 shares of the aerospace company’s stock worth $24,402,000 after buying an additional 87,253 shares during the period. Emerald Advisers Inc. PA increased its position in KLX by 20.3% in the second quarter. Emerald Advisers Inc. PA now owns 618,917 shares of the aerospace company’s stock worth $30,946,000 after buying an additional 104,326 shares during the period. Great West Life Assurance Co. Can increased its position in KLX by 3.5% in the second quarter. Great West Life Assurance Co. Can now owns 31,778 shares of the aerospace company’s stock worth $1,588,000 after buying an additional 1,082 shares during the period. Harbour Capital Advisors LLC increased its position in KLX by 1,858.7% in the second quarter. Harbour Capital Advisors LLC now owns 52,200 shares of the aerospace company’s stock worth $1,044,000 after buying an additional 49,535 shares during the period. Finally, ING Groep NV purchased a new position in KLX during the second quarter worth approximately $315,000.
Shares of KLX Inc. (NASDAQ KLXI) opened at 46.92 on Wednesday. The stock has a 50 day moving average price of $50.95 and a 200-day moving average price of $48.80. KLX Inc. has a 1-year low of $32.23 and a 1-year high of $54.40. The firm has a market cap of $2.41 billion, a price-to-earnings ratio of 31.70 and a beta of 1.28.
KLX (NASDAQ:KLXI) last issued its earnings results on Wednesday, August 23rd. The aerospace company reported $0.73 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.06. KLX had a net margin of 4.83% and a return on equity of 4.43%. The business had revenue of $430.60 million during the quarter, compared to the consensus estimate of $423.08 million. The firm’s revenue for the quarter was up 13.6% compared to the same quarter last year. On average, equities research analysts expect that KLX Inc. will post $3.07 earnings per share for the current fiscal year.
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A number of equities research analysts have recently issued reports on the company. Zacks Investment Research lowered KLX from a “hold” rating to a “sell” rating in a research note on Tuesday. Cowen and Company reiterated an “outperform” rating and issued a $55.00 target price (up previously from $52.00) on shares of KLX in a research note on Thursday, August 24th. Jefferies Group LLC reiterated a “hold” rating and issued a $51.00 target price (down previously from $55.00) on shares of KLX in a research note on Thursday, August 24th. Finally, BidaskClub lowered KLX from a “hold” rating to a “sell” rating in a research note on Saturday, August 19th. 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. The company currently has an average rating of “Hold” and a consensus target price of $55.17.
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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