Synovus Financial Corp Has $1.54 Million Position in KLX Inc (KLXI)

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Synovus Financial Corp raised its stake in shares of KLX Inc (NASDAQ:KLXI) by 120.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 24,557 shares of the aerospace company’s stock after purchasing an additional 13,430 shares during the period. Synovus Financial Corp’s holdings in KLX were worth $1,538,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the stock. UBS Group AG grew its holdings in KLX by 52.3% during the 1st quarter. UBS Group AG now owns 21,443 shares of the aerospace company’s stock worth $1,524,000 after acquiring an additional 7,368 shares during the period. LPL Financial LLC grew its holdings in KLX by 45.9% during the 1st quarter. LPL Financial LLC now owns 4,414 shares of the aerospace company’s stock worth $314,000 after acquiring an additional 1,389 shares during the period. Principal Financial Group Inc. grew its holdings in KLX by 1.0% during the 1st quarter. Principal Financial Group Inc. now owns 251,635 shares of the aerospace company’s stock worth $17,878,000 after acquiring an additional 2,380 shares during the period. Brown Advisory Inc. grew its holdings in KLX by 9.5% during the 1st quarter. Brown Advisory Inc. now owns 8,757 shares of the aerospace company’s stock worth $622,000 after acquiring an additional 759 shares during the period. Finally, Copper Rock Capital Partners LLC acquired a new stake in KLX during the 2nd quarter worth about $10,804,000. 90.07% of the stock is owned by institutional investors and hedge funds.

Shares of KLXI opened at $62.99 on Wednesday. KLX Inc has a one year low of $44.06 and a one year high of $69.56.

KLX (NASDAQ:KLXI) last issued its earnings results on Tuesday, August 28th. The aerospace company reported $1.31 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.23. The firm had revenue of $527.20 million during the quarter, compared to analyst estimates of $501.00 million. The business’s quarterly revenue was up 22.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.73 earnings per share.

Several analysts have recently commented on KLXI shares. BidaskClub downgraded KLX from a “hold” rating to a “sell” rating in a research note on Monday, July 23rd. ValuEngine downgraded KLX from a “buy” rating to a “hold” rating in a research note on Tuesday, September 4th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. KLX currently has an average rating of “Hold” and an average target price of $66.50.

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KLX Company Profile

KLX Inc, together with its subsidiaries, provides aerospace fasteners, consumables, and logistics services worldwide. The Aerospace Solutions Group segment distributes bolts, clips, hinges, rings, screws, carbon-faced seals, gaskets, O-rings, and others; chemicals, sealants and adhesives, lubricants, paints, cleaners, and degreasers; Honeywell proprietary parts; bearings, tooling, electrical components, and clamps; and hydraulics, pneumatics, fluid connectors, filtration, electrical control systems seals, and compressors and engineered systems.

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Institutional Ownership by Quarter for KLX (NASDAQ:KLXI)

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