Fruth Investment Management Has $1.07 Million Stock Position in Avnet, Inc. (NASDAQ:AVT)


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Fruth Investment Management cut its holdings in Avnet, Inc. (NASDAQ:AVT) by 2.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 30,450 shares of the company’s stock after selling 625 shares during the period. Fruth Investment Management’s holdings in Avnet were worth $1,069,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. First Trust Advisors LP purchased a new position in shares of Avnet during the first quarter valued at approximately $4,080,000. Bank of Montreal Can boosted its position in shares of Avnet by 178.3% during the second quarter. Bank of Montreal Can now owns 8,601 shares of the company’s stock valued at $226,000 after purchasing an additional 5,511 shares in the last quarter. Marshall Wace LLP bought a new stake in shares of Avnet during the second quarter valued at approximately $365,000. APG Asset Management N.V. boosted its position in shares of Avnet by 321.5% during the second quarter. APG Asset Management N.V. now owns 61,535 shares of the company’s stock valued at $1,528,000 after purchasing an additional 46,935 shares in the last quarter. Finally, Cubist Systematic Strategies LLC boosted its position in shares of Avnet by 44.0% during the second quarter. Cubist Systematic Strategies LLC now owns 123,269 shares of the company’s stock valued at $3,437,000 after purchasing an additional 37,640 shares in the last quarter. Institutional investors own 93.79% of the company’s stock.

Several equities research analysts recently weighed in on the company. TheStreet upgraded Avnet from a “d+” rating to a “c-” rating in a research report on Thursday, September 17th. BidaskClub upgraded Avnet from a “buy” rating to a “strong-buy” rating in a research note on Monday, December 28th. The Goldman Sachs Group boosted their price target on Avnet from $23.00 to $25.00 and gave the stock a “sell” rating in a research note on Monday, December 14th. Finally, Wells Fargo & Company decreased their price target on Avnet from $29.00 to $27.00 and set an “equal weight” rating for the company in a research note on Thursday, October 29th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, one has given a buy rating and two have given a strong buy rating to the company’s stock. Avnet has an average rating of “Hold” and an average target price of $30.43.

Avnet stock traded down $0.44 during mid-day trading on Wednesday, reaching $38.03. 10,829 shares of the stock traded hands, compared to its average volume of 945,276. The stock has a market capitalization of $3.76 billion, a PE ratio of -41.54, a price-to-earnings-growth ratio of 1.09 and a beta of 1.50. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.39 and a quick ratio of 1.32. Avnet, Inc. has a 12-month low of $17.85 and a 12-month high of $42.89. The business’s 50-day moving average is $34.93 and its 200-day moving average is $30.21.

Avnet (NASDAQ:AVT) last issued its quarterly earnings results on Wednesday, October 28th. The company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.24. The business had revenue of $4.72 billion during the quarter, compared to analysts’ expectations of $4.05 billion. Avnet had a positive return on equity of 3.40% and a negative net margin of 0.52%. Equities analysts anticipate that Avnet, Inc. will post 1.84 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 16th. Shareholders of record on Wednesday, December 2nd were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date was Tuesday, December 1st. Avnet’s payout ratio is 54.55%.

In related news, Director Oleg Khaykin purchased 9,000 shares of Avnet stock in a transaction on Thursday, December 3rd. The stock was acquired at an average price of $32.28 per share, for a total transaction of $290,520.00. Following the completion of the transaction, the director now directly owns 9,000 shares in the company, valued at approximately $290,520. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.10% of the company’s stock.

Avnet Company Profile

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

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Institutional Ownership by Quarter for Avnet (NASDAQ:AVT)

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