Kovitz Investment Group Partners LLC Acquires 19,646 Shares of Avnet, Inc. (NASDAQ:AVT)

Kovitz Investment Group Partners LLC lifted its holdings in shares of Avnet, Inc. (NASDAQ:AVT) by 430.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 24,208 shares of the company’s stock after acquiring an additional 19,646 shares during the quarter. Kovitz Investment Group Partners LLC’s holdings in Avnet were worth $1,289,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Weiss Asset Management LP boosted its position in Avnet by 35.7% during the third quarter. Weiss Asset Management LP now owns 254,624 shares of the company’s stock worth $13,829,000 after purchasing an additional 66,973 shares during the period. Quantinno Capital Management LP lifted its stake in shares of Avnet by 20.2% during the 3rd quarter. Quantinno Capital Management LP now owns 96,218 shares of the company’s stock worth $5,226,000 after buying an additional 16,154 shares during the last quarter. Hotchkis & Wiley Capital Management LLC lifted its stake in shares of Avnet by 204.6% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 690,270 shares of the company’s stock worth $37,489,000 after buying an additional 463,660 shares during the last quarter. Hilltop Holdings Inc. boosted its holdings in shares of Avnet by 14.9% during the 3rd quarter. Hilltop Holdings Inc. now owns 4,688 shares of the company’s stock worth $255,000 after buying an additional 607 shares during the period. Finally, ClearAlpha Technologies LP grew its stake in Avnet by 81.7% in the 3rd quarter. ClearAlpha Technologies LP now owns 20,012 shares of the company’s stock valued at $1,087,000 after buying an additional 8,998 shares during the last quarter. 95.78% of the stock is owned by institutional investors and hedge funds.

Avnet Trading Down 1.9 %

Shares of AVT stock opened at $53.71 on Wednesday. Avnet, Inc. has a 12-month low of $43.62 and a 12-month high of $59.24. The company has a market capitalization of $4.67 billion, a PE ratio of 14.06, a price-to-earnings-growth ratio of 1.01 and a beta of 1.14. The firm has a 50 day moving average price of $54.52 and a two-hundred day moving average price of $53.41. The company has a quick ratio of 1.07, a current ratio of 2.25 and a debt-to-equity ratio of 0.48.

Avnet (NASDAQ:AVT) last released its quarterly earnings results 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 return on equity of 8.46% and a net margin of 1.51%. The business had revenue of $5.60 billion during the quarter, compared to analysts’ expectations of $5.43 billion. During the same period last year, the firm posted $1.61 EPS. The firm’s revenue for the quarter was down 11.5% compared to the same quarter last year. As a group, analysts predict that Avnet, Inc. will post 4.09 earnings per share for the current year.

Avnet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be given a dividend of $0.33 per share. The ex-dividend date is Wednesday, December 4th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.46%. Avnet’s payout ratio is presently 34.55%.

Avnet Profile

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.