Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
Announcement: Moody's maintains Anixter's ratings under review for downgrade following tender of unsecured notes by WESCO. Global Credit Research- 26 May 2020. New York, May 26, 2020-- Moody's Investors Service has maintained Anixter Inc.' s ratings under review for downgrade due to the potential redemption by WESCO International, Inc. of substantially all of the outstanding 5.5% $350 million senior unsecured notes due 2023 and 6% $250 million senior unsecured notes due 2025...
The independent financial analyst theScreener just lowered the general evaluation of ANIXTER INTL.INCO. (US), active in the Electrical Components & Equipment industry. As regards its fundamental valuation, the title now shows 1 out of 4 stars while market behaviour can be considered moderately risky. theScreener believes that the title remains under pressure due to the loss of a star(s) and downgrades its general evaluation to Slightly Negative. As of the analysis date March 31, 2020, the closin...
Announcement: Moody's keeps Anixter's ratings under review for downgrade following announced merger agreement with WESCO. Global Credit Research- 14 Jan 2020. New York, January 14, 2020-- Moody's Investors Service, has maintained Anixter Inc.' s ratings under review for downgrade following the planned merger with WESCO International, Inc..
Key Points: • Consumer Cyclical names continue to develop positively. (ex. APTV, WGO, CROX, NKE, SKX, MAT, RRGB, BKE, MIK, SIG, and DKS) • A few names in Consumer Staples are developing positively. (ex. INGR, MKC, and K) • A few names in the Materials Sector are developing positively (ex. CMP, and CMC)
Rating Action: Moody's places Anixter's ratings on review for downgrade following announced agreement to be acquired by CD&R. Global Credit Research- 30 Oct 2019. New York, October 30, 2019-- Moody's Investors Service placed all ratings of Anixter Inc., including the Ba2 corporate family rating and Ba3 senior unsecured rating, under review for downgrade.
Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of Anixter Inc.. Global Credit Research- 09 Oct 2019. New York, October 09, 2019-- Moody's Investors Service has completed a periodic review of the ratings of Anixter Inc. and other ratings that are associated with the same analytical unit.
Anixter International's stock surged over 10% during intraday trading on April 23 following the release of the narrow-moat-rated distributor's first-quarter earnings results. Reported sales increased over 7% year over year (almost 8% organic growth) to a first-quarter record $2.1 billion, which topped management's guidance of 3% to 5% organic sales growth. The company delivered on its margin expansion goals, too, as first-quarter gross profit margin expanded 30 basis point year over year to 19.9...
Anixter International's stock surged over 10% during intraday trading on April 23 following the release of the narrow-moat-rated distributor's first-quarter earnings results. Reported sales increased over 7% year over year (almost 8% organic growth) to a first-quarter record $2.1 billion, which topped management's guidance of 3% to 5% organic sales growth. The company delivered on its margin expansion goals, too, as first-quarter gross profit margin expanded 30 basis point year over year to 19.9...
We think Anixter International and Wesco International are significantly undervalued, currently trading at approximately a 40% discount to our fair value estimates. We previously preferred Anixter because of its historically more balanced capital-allocation strategy and our belief that its resumption of special dividends and/or share repurchases was on the horizon, which we saw as a potential catalyst along with improving fundamentals. However, Anixter disclosed a multiyear enterprise resource...
We think Anixter International and Wesco International are significantly undervalued, currently trading at approximately a 40% discount to our fair value estimates. We previously preferred Anixter because of its historically more balanced capital-allocation strategy and our belief that its resumption of special dividends and/or share repurchases was on the horizon, which we saw as a potential catalyst along with improving fundamentals. However, Anixter disclosed a multiyear enterprise resourc...
During Anixter's fourth-quarter earnings call, management disclosed that an enterprise resource planning system upgrade was a component of the firm's "innovation and business transformation" plan. Management noted that they expect the transformation to provide $40 million to $60 million of run-rate cost savings by 2023. The firm provided more details about the ERP implementation in its February investor presentation. Anixter will begin moving from the firm's current antiquated homegrown mainfram...
During Anixter's fourth-quarter earnings call, management disclosed that an enterprise resource planning system upgrade was a component of the firm's "innovation and business transformation" plan. Management noted that they expect the transformation to provide $40 million to $60 million of run-rate cost savings by 2023. The firm provided more details about the ERP implementation in its February investor presentation. Anixter will begin moving from the firm's current antiquated homegrown mainfram...
During Anixter's fourth-quarter earnings call, management disclosed that an enterprise resource planning system upgrade was a component of the firm's "innovation and business transformation" plan. Management noted that they expect the transformation to provide $40 million to $60 million of run-rate cost savings by 2023. The firm provided more details about the ERP implementation in its February investor presentation. Anixter will begin moving from the firm's current antiquated homegrown mainfram...
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