KLX Inc (KLXI) Position Lifted by Bank of Montreal Can
Bank of Montreal Can increased its holdings in shares of KLX Inc (NASDAQ:KLXI) by 9.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 30,628 shares of the aerospace company’s stock after acquiring an additional 2,659 shares during the quarter. Bank of Montreal Can’s holdings in KLX were worth $2,091,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Shelton Capital Management bought a new stake in KLX in the 2nd quarter valued at $200,000. Victory Capital Management Inc. bought a new stake in KLX in the 3rd quarter valued at $205,000. Cubist Systematic Strategies LLC bought a new stake in KLX in the 3rd quarter valued at $217,000. Dynamic Technology Lab Private Ltd bought a new stake in KLX in the 3rd quarter valued at $268,000. Finally, BlueCrest Capital Management Ltd bought a new stake in KLX in the 2nd quarter valued at $291,000.
KLXI has been the subject of several recent research reports. Cowen restated a “buy” rating and issued a $57.00 price target on shares of KLX in a research note on Wednesday, December 6th. BidaskClub upgraded KLX from a “buy” rating to a “strong-buy” rating in a research note on Saturday, January 13th. Zacks Investment Research upgraded KLX from a “sell” rating to a “hold” rating in a research note on Tuesday, October 24th. Jefferies Group restated a “hold” rating and issued a $63.00 price target on shares of KLX in a research note on Tuesday, December 26th. Finally, SunTrust Banks boosted their price target on KLX to $65.00 in a research note on Thursday, December 7th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $65.00.
KLX (NASDAQ:KLXI) last released its earnings results on Wednesday, December 6th. The aerospace company reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.10. The firm had revenue of $456.70 million during the quarter, compared to the consensus estimate of $442.26 million. KLX had a return on equity of 5.14% and a net margin of 4.99%. KLX’s revenue was up 17.4% on a year-over-year basis. sell-side analysts anticipate that KLX Inc will post 2.86 earnings per share for the current year.
In other news, Director Theodore L. Weise sold 2,000 shares of the company’s stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $60.69, for a total transaction of $121,380.00. Following the completion of the sale, the director now directly owns 7,083 shares in the company, valued at approximately $429,867.27. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Heather Floyd sold 2,024 shares of the company’s stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $61.00, for a total value of $123,464.00. Following the sale, the vice president now owns 13,811 shares of the company’s stock, valued at $842,471. The disclosure for this sale can be found here. Corporate insiders own 1.77% of the company’s stock.
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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