(GuruFocus, August 13, 2009) Investment Gurus John Rogers, founder of Ariel Capital Management, LLC reduced holding in telecommunication company Anixter International Inc. (AXE, Financial). GuruFocus Data shows that Joh Rogers sold 11.93% of his position in AXE on July 31, 2009 at the price of $34.22 per share. After the sale, John Rogers still holds 3,207,299 shares.
Anixter International Inc. is a distributor of communication products used in building enterprise and service provider data voice and video networks. In addition Anixter is a distributor of specialty wire and cable products to original equipment manufacturers and to industrial companies for maintenance and repair operations. Anixter International Inc. has a market cap of $1.28 billion; its shares were traded at around $36.21 with a P/E ratio of 9.7 and P/S ratio of 0.2. Anixter International Inc. had an annual average earning growth of 13% over the past 10 years. GuruFocus rated Anixter International Inc. the business predictability rank of 2-star.
On July 28, 2009, company reported quarterly results for the quarter ended on Jun 30, 2009. Sales was $1.22 billion, a decrease of 25 percent of sales of $1.62 billion in the year ago quarter. Second quarter operating loss was $58.7 million which includes a $100.0 million goodwill impairment charge related to European operations. Exclusive of the non-cash goodwill impairment charge, operating income in the secondquarter was $41.3 million, a decline of 66 percent from the $121.8 million reported in the year ago period.
Company insiders are also selling stocks recently. VP,General Counsel & Secretary John A Dul sold 850 shares of AXE stock on 08/04/2009 at the average price of $35; Director Thomas C Theobald sold 10,000 shares of AXE stock on 08/03/2009 at the average price of $34.
John Rogers has been a long time holder. He reported to have 3.11 million shares in 1Q02 and increaded to as much as 6.4 million shares in 3Q07, but since then, he has been selling stock. In 1Q09, he held 3.6 million shares.
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Anixter International Inc. is a distributor of communication products used in building enterprise and service provider data voice and video networks. In addition Anixter is a distributor of specialty wire and cable products to original equipment manufacturers and to industrial companies for maintenance and repair operations. Anixter International Inc. has a market cap of $1.28 billion; its shares were traded at around $36.21 with a P/E ratio of 9.7 and P/S ratio of 0.2. Anixter International Inc. had an annual average earning growth of 13% over the past 10 years. GuruFocus rated Anixter International Inc. the business predictability rank of 2-star.
On July 28, 2009, company reported quarterly results for the quarter ended on Jun 30, 2009. Sales was $1.22 billion, a decrease of 25 percent of sales of $1.62 billion in the year ago quarter. Second quarter operating loss was $58.7 million which includes a $100.0 million goodwill impairment charge related to European operations. Exclusive of the non-cash goodwill impairment charge, operating income in the secondquarter was $41.3 million, a decline of 66 percent from the $121.8 million reported in the year ago period.
Company insiders are also selling stocks recently. VP,General Counsel & Secretary John A Dul sold 850 shares of AXE stock on 08/04/2009 at the average price of $35; Director Thomas C Theobald sold 10,000 shares of AXE stock on 08/03/2009 at the average price of $34.
John Rogers has been a long time holder. He reported to have 3.11 million shares in 1Q02 and increaded to as much as 6.4 million shares in 3Q07, but since then, he has been selling stock. In 1Q09, he held 3.6 million shares.
GuruFocus provides Real Time Guru Picks and Insider Buys/Sells information for Premium Member. If you are not a premium member, click here to sign up or upgrade. 7-Day Free Trial is available.
