BNP Paribas Financial Markets Sells 15,181 Shares of Avnet, Inc. (NASDAQ:AVT)

BNP Paribas Financial Markets decreased its position in Avnet, Inc. (NASDAQ:AVT) by 32.1% during the third quarter, Holdings Channel reports. The fund owned 32,099 shares of the company’s stock after selling 15,181 shares during the period. BNP Paribas Financial Markets’ holdings in Avnet were worth $1,743,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Lind Value II ApS purchased a new stake in shares of Avnet in the 2nd quarter worth $62,394,000. AQR Capital Management LLC increased its position in Avnet by 34.7% in the second quarter. AQR Capital Management LLC now owns 1,844,452 shares of the company’s stock worth $94,713,000 after buying an additional 475,165 shares in the last quarter. Raymond James & Associates raised its stake in shares of Avnet by 39.5% in the second quarter. Raymond James & Associates now owns 563,127 shares of the company’s stock worth $28,995,000 after buying an additional 159,565 shares during the period. Great Lakes Advisors LLC lifted its position in shares of Avnet by 2,607.9% during the 2nd quarter. Great Lakes Advisors LLC now owns 163,449 shares of the company’s stock valued at $8,416,000 after buying an additional 157,413 shares in the last quarter. Finally, Squarepoint Ops LLC grew its stake in shares of Avnet by 146.5% during the 2nd quarter. Squarepoint Ops LLC now owns 231,715 shares of the company’s stock valued at $11,931,000 after acquiring an additional 137,720 shares during the period. 95.78% of the stock is owned by hedge funds and other institutional investors.

Avnet Trading Down 0.8 %

Avnet stock opened at $54.21 on Friday. 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, Inc. has a 12-month low of $43.62 and a 12-month high of $59.24. The firm has a market capitalization of $4.71 billion, a price-to-earnings ratio of 14.19, a P/E/G ratio of 1.03 and a beta of 1.14. The firm has a 50 day moving average of $54.50 and a 200 day moving average of $53.42.

Avnet (NASDAQ:AVT) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.92 EPS for the quarter, beating 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 firm had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.43 billion. During the same period last year, the firm earned $1.61 EPS. The company’s revenue was down 11.5% on a year-over-year basis. As a group, research analysts predict that Avnet, Inc. will post 4.09 earnings per share for the current year.

Avnet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 2.43%. The ex-dividend date is Wednesday, December 4th. Avnet’s dividend payout ratio (DPR) 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.