Candriam Luxembourg S.C.A. Raises Stake in Arrow Electronics, Inc. (NYSE:ARW)

Candriam Luxembourg S.C.A. increased its stake in shares of Arrow Electronics, Inc. (NYSE:ARW) by 8,281.8% during the third quarter, HoldingsChannel.com reports. The firm owned 1,844 shares of the technology company’s stock after buying an additional 1,822 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Arrow Electronics were worth $207,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in ARW. DNB Asset Management AS increased its stake in Arrow Electronics by 13.0% in the 3rd quarter. DNB Asset Management AS now owns 3,066,391 shares of the technology company’s stock worth $344,325,000 after acquiring an additional 353,355 shares during the last quarter. LSV Asset Management increased its stake in Arrow Electronics by 7.2% in the 3rd quarter. LSV Asset Management now owns 2,808,949 shares of the technology company’s stock worth $315,416,000 after acquiring an additional 188,483 shares during the last quarter. State Street Corp increased its stake in Arrow Electronics by 4.6% in the 2nd quarter. State Street Corp now owns 3,189,737 shares of the technology company’s stock worth $363,088,000 after acquiring an additional 139,909 shares during the last quarter. Virginia Retirement Systems ET AL increased its stake in Arrow Electronics by 76.1% in the 2nd quarter. Virginia Retirement Systems ET AL now owns 311,100 shares of the technology company’s stock worth $35,413,000 after acquiring an additional 134,400 shares during the last quarter. Finally, Wells Fargo & Company MN increased its stake in Arrow Electronics by 28.5% in the 2nd quarter. Wells Fargo & Company MN now owns 581,086 shares of the technology company’s stock worth $66,145,000 after acquiring an additional 128,709 shares during the last quarter. Institutional investors and hedge funds own 94.38% of the company’s stock.

In related news, insider Vincent P. Melvin sold 8,748 shares of the stock in a transaction dated Monday, November 29th. The stock was sold at an average price of $124.25, for a total transaction of $1,086,939.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Charles Kostalnick II sold 3,000 shares of the stock in a transaction that occurred on Friday, November 5th. The stock was sold at an average price of $122.45, for a total value of $367,350.00. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.

Shares of Arrow Electronics stock opened at $134.96 on Friday. The company has a current ratio of 1.44, a quick ratio of 1.04 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $9.40 billion, a PE ratio of 10.36, a price-to-earnings-growth ratio of 0.31 and a beta of 1.48. The business’s 50-day moving average price is $127.97 and its 200-day moving average price is $120.01. Arrow Electronics, Inc. has a 12 month low of $96.40 and a 12 month high of $137.95.

Arrow Electronics (NYSE:ARW) last announced its quarterly earnings data on Thursday, November 4th. The technology company reported $4.04 EPS for the quarter, beating the consensus estimate of $3.54 by $0.50. The firm had revenue of $8.51 billion for the quarter, compared to analyst estimates of $8.59 billion. Arrow Electronics had a return on equity of 19.22% and a net margin of 2.87%. The company’s revenue was up 17.7% on a year-over-year basis. During the same period in the prior year, the company earned $2.08 EPS. As a group, analysts predict that Arrow Electronics, Inc. will post 14.6 earnings per share for the current fiscal year.

Arrow Electronics announced that its board has authorized a stock repurchase program on Friday, December 17th that allows the company to repurchase $600.00 million in shares. This repurchase authorization allows the technology company to reacquire up to 6.8% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Separately, Zacks Investment Research lowered Arrow Electronics from a “buy” rating to a “hold” rating and set a $140.00 target price on the stock. in a research note on Monday, January 10th.

Arrow Electronics Company Profile

Arrow Electronics, Inc is a provider of products, services, and solutions to industrial and commercial users of electronic components and enterprise computing solutions. It operates through two segments: Global Components Business and Global Enterprise Computing Solutions. The Global Components segment involves in the marketing and distribution of electronic components and provides a range of value added capabilities throughout the entire life cycle of technology products and services through design engineering, global marketing, and integration, global logistics and supply chain management.

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Institutional Ownership by Quarter for Arrow Electronics (NYSE:ARW)

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