Avnet, Inc. (NASDAQ:AVT) Stock Position Raised by Greenhaven Associates Inc.

Greenhaven Associates Inc. raised its holdings in shares of Avnet, Inc. (NASDAQ:AVT) by 1.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 3,962,837 shares of the company’s stock after purchasing an additional 38,185 shares during the period. Avnet accounts for approximately 3.1% of Greenhaven Associates Inc.’s investment portfolio, making the stock its 9th largest holding. Greenhaven Associates Inc.’s holdings in Avnet were worth $207,336,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. boosted its stake in shares of Avnet by 8.3% during the 2nd quarter. Envestnet Asset Management Inc. now owns 159,985 shares of the company’s stock worth $8,238,000 after purchasing an additional 12,238 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its position in Avnet by 16.0% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 20,670 shares of the company’s stock worth $1,062,000 after acquiring an additional 2,851 shares during the last quarter. Hsbc Holdings PLC grew its stake in Avnet by 4.2% in the 2nd quarter. Hsbc Holdings PLC now owns 5,448 shares of the company’s stock worth $280,000 after acquiring an additional 219 shares during the period. XTX Topco Ltd acquired a new position in Avnet in the 2nd quarter valued at $633,000. Finally, Bank of Montreal Can boosted its holdings in shares of Avnet by 8.1% during the second quarter. Bank of Montreal Can now owns 38,114 shares of the company’s stock worth $2,017,000 after purchasing an additional 2,847 shares during the last quarter. Institutional investors and hedge funds own 95.78% of the company’s stock.

Avnet Stock Performance

Avnet stock opened at $54.65 on Wednesday. The stock has a fifty day moving average price of $53.37 and a 200 day moving average price of $53.42. Avnet, Inc. has a 52 week low of $43.62 and a 52 week high of $59.24. The firm has a market capitalization of $4.75 billion, a P/E ratio of 14.31, a PEG ratio of 1.00 and a beta of 1.14. The company has a current ratio of 2.25, a quick ratio of 1.07 and a debt-to-equity ratio of 0.48.

Avnet (NASDAQ:AVT) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.06. Avnet had a net margin of 1.51% and a return on equity of 8.46%. The business had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.43 billion. During the same period in the prior year, the firm posted $1.61 EPS. The company’s revenue was down 11.5% on a year-over-year basis. Equities research analysts anticipate that Avnet, Inc. will post 4.1 earnings per share for the current year.

Avnet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th were paid a dividend of $0.33 per share. The ex-dividend date was Wednesday, December 4th. This represents a $1.32 annualized dividend and a dividend yield of 2.42%. Avnet’s dividend payout ratio is presently 34.56%.

About Avnet

Avnet, Inc, distributes electronic component technology. The company operates through two segments, Electronic Components and Farnell. The Electronic Components segment markets, sells, and distributes semiconductors; interconnect, passive, and electromechanical components; and other integrated components from electronic component manufacturers.