Washington Capital Management Inc. continued to hold its position in KLX Inc. (NASDAQ:KLXI) during the second quarter, according to its most recent filing with the SEC. The firm owned 8,500 shares of the aerospace company’s stock at the end of the second quarter. Washington Capital Management Inc.’s holdings in KLX were worth $425,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. boosted its position in KLX by 16,238.1% in the first quarter. BlackRock Inc. now owns 6,303,731 shares of the aerospace company’s stock valued at $281,777,000 after buying an additional 6,265,148 shares during the last quarter. Vanguard Group Inc. boosted its position in KLX by 4.9% in the first quarter. Vanguard Group Inc. now owns 4,292,293 shares of the aerospace company’s stock valued at $191,865,000 after buying an additional 201,203 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in KLX by 36.0% in the first quarter. Dimensional Fund Advisors LP now owns 2,675,495 shares of the aerospace company’s stock valued at $119,593,000 after buying an additional 708,731 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in KLX by 62.7% in the first quarter. Goldman Sachs Group Inc. now owns 2,620,065 shares of the aerospace company’s stock valued at $117,117,000 after buying an additional 1,009,575 shares during the last quarter. Finally, State Street Corp boosted its position in KLX by 11.3% in the first quarter. State Street Corp now owns 2,167,821 shares of the aerospace company’s stock valued at $96,904,000 after buying an additional 219,261 shares during the last quarter.
KLX Inc. (NASDAQ KLXI) opened at 49.02 on Friday. KLX Inc. has a 52 week low of $32.23 and a 52 week high of $54.40. The company has a market cap of $2.54 billion, a PE ratio of 39.85 and a beta of 1.28. The company’s 50-day moving average price is $51.44 and its 200 day moving average price is $48.85.
KLX (NASDAQ:KLXI) last released its earnings results on Wednesday, May 24th. The aerospace company reported $0.36 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.06. The company had revenue of $411.30 million during the quarter, compared to analysts’ expectations of $409.95 million. KLX had a return on equity of 3.99% and a net margin of 4.24%. On average, analysts anticipate that KLX Inc. will post $3.08 EPS for the current year.
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KLXI has been the subject of several recent analyst reports. BidaskClub raised KLX from a “hold” rating to a “buy” rating in a research note on Saturday, July 8th. Zacks Investment Research raised KLX from a “hold” rating to a “strong-buy” rating and set a $56.00 price target for the company in a research note on Saturday, July 1st. Cowen and Company reissued a “buy” rating and issued a $52.00 price target on shares of KLX in a research note on Monday, July 17th. Finally, TheStreet raised KLX from a “c+” rating to a “b-” rating in a research note on Wednesday, June 7th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. KLX has an average rating of “Buy” and an average price target of $55.40.
In other news, insider Roger Mark Franks sold 2,447 shares of KLX stock in a transaction on Friday, May 26th. The stock was sold at an average price of $47.70, for a total value of $116,721.90. Following the completion of the sale, the insider now directly owns 21,444 shares of the company’s stock, valued at approximately $1,022,878.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 3,163 shares of company stock valued at $153,553 over the last three months. Insiders own 1.77% of the company’s stock.
KLX Company Profile
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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