Rivulet Capital adds Anixter International (AXE) to its portfolio

Anixter International (AXE) : Rivulet Capital added new position in Anixter International during the most recent quarter end. The investment management firm now holds 443,100 shares of Anixter International which is valued at $25 Million , the company said in a statement filed on May 13, 2016 with the SEC.Anixter International makes up approximately 7.69% of Rivulet Capital’s portfolio.

Other Hedge Funds, Including , State Of Tennessee Treasury Department boosted its stake in AXE in the latest quarter, The investment management firm added 533 additional shares and now holds a total of 22,633 shares of Anixter International which is valued at $1.3 Million. Anixter International makes up approx 0.01% of State Of Tennessee Treasury Department’s portfolio.Third Avenue Management reduced its stake in AXE by selling 118,754 shares or 14.16% in the most recent quarter. The Hedge Fund company now holds 719,910 shares of AXE which is valued at $40.6 Million. Anixter International makes up approx 1.55% of Third Avenue Management’s portfolio.Victory Capital Management Inc boosted its stake in AXE in the latest quarter, The investment management firm added 114,239 additional shares and now holds a total of 940,529 shares of Anixter International which is valued at $53 Million. Anixter International makes up approx 0.23% of Victory Capital Management Inc’s portfolio.Raymond James Associates reduced its stake in AXE by selling 231 shares or 0.64% in the most recent quarter. The Hedge Fund company now holds 35,885 shares of AXE which is valued at $2 Million. Anixter International makes up approx 0.01% of Raymond James Associates’s portfolio.Public Employees Retirement Association Of Colorado boosted its stake in AXE in the latest quarter, The investment management firm added 1,176 additional shares and now holds a total of 5,286 shares of Anixter International which is valued at $329,318.

Anixter International opened for trading at $59.04 and hit $59.62 on the upside on Wednesday, eventually ending the session at $59.55, with a gain of 1.73% or 1.01 points. The heightened volatility saw the trading volume jump to 1,94,131 shares. Company has a market cap of $1,968 M.

On the company’s financial health, Anixter International reported $0.92 EPS for the quarter, beating the analyst consensus estimate by $ 0.11 according to the earnings call on Apr 26, 2016. Analyst had a consensus of $0.81. The company had revenue of $1816.20 million for the quarter, compared to analysts expectations of $1752.90 million. The company’s revenue was up 31.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.81 EPS.

Many Wall Street Analysts have commented on Anixter International. Company shares were Reiterated by Imperial Capital on Apr 25, 2016 to “In-line”, Firm has raised the Price Target to $ 60 from a previous price target of $49 .Shares were Reiterated by Imperial Capital on Feb 19, 2016 to “In-line” and Lowered the Price Target to $ 49 from a previous price target of $70 .

Anixter International Inc. is engaged in the distribution of enterprise cabling and security solutions electrical and electronic wire and cable products original equipment manufacturer (OEM) supply fasteners and other small parts. The Company operates under the following segments: Enterprise Cabling and Security Solutions; Electrical and Electronic Wire and Cable and OEM Supply – Fasteners. The Company’s inventory management services include procurement advisory engineering services component kit production small component assembly and e-commerce and electronic data interchange. Its customers include international national regional and local companies. The Company caters to industry groups such as manufacturing resource extraction telecommunications Internet service providers finance education healthcare retail transportation utilities aerospace and defense and Government. The Company’s wholly owned subsidiary is Anixter Inc.

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