AVX Co. (NYSE:AVX) declared a quarterly dividend on Friday, October 19th, Wall Street Journal reports. Stockholders of record on Friday, November 2nd will be paid a dividend of 0.115 per share by the electronics maker on Friday, November 16th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date of this dividend is Thursday, November 1st.
AVX has increased its dividend payment by an average of 4.5% annually over the last three years and has increased its dividend every year for the last 5 years. AVX has a payout ratio of 35.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect AVX to earn $1.27 per share next year, which means the company should continue to be able to cover its $0.46 annual dividend with an expected future payout ratio of 36.2%.
Shares of AVX stock traded down $0.07 during mid-day trading on Friday, reaching $16.08. The stock had a trading volume of 196,775 shares, compared to its average volume of 285,122. The firm has a market capitalization of $2.84 billion, a PE ratio of 20.19 and a beta of 1.06. AVX has a 1-year low of $14.51 and a 1-year high of $21.48.
AVX (NYSE:AVX) last announced its quarterly earnings data on Wednesday, July 25th. The electronics maker reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.15. The business had revenue of $454.12 million for the quarter, compared to analyst estimates of $412.40 million. AVX had a return on equity of 7.12% and a net margin of 1.74%. The company’s revenue was up 37.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.19 earnings per share. On average, equities analysts expect that AVX will post 1.29 earnings per share for the current year.
A number of research analysts have recently weighed in on the company. Stifel Nicolaus increased their price objective on AVX from $16.00 to $18.00 and gave the company a “hold” rating in a report on Thursday, July 26th. Zacks Investment Research raised AVX from a “sell” rating to a “hold” rating in a report on Tuesday, June 26th. ValuEngine raised AVX from a “hold” rating to a “buy” rating in a report on Thursday, July 5th. Finally, Citigroup raised AVX from a “neutral” rating to a “buy” rating in a report on Tuesday, July 3rd.
In other news, CFO Kurt P. Cummings sold 60,000 shares of the company’s stock in a transaction dated Thursday, July 26th. The stock was sold at an average price of $18.87, for a total value of $1,132,200.00. Following the sale, the chief financial officer now owns 22,812 shares in the company, valued at $430,462.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Alex Schenkel sold 16,000 shares of the company’s stock in a transaction dated Friday, July 27th. The stock was sold at an average price of $19.36, for a total value of $309,760.00. Following the completion of the sale, the insider now owns 11,134 shares in the company, valued at approximately $215,554.24. The disclosure for this sale can be found here. Insiders sold 101,086 shares of company stock worth $1,957,042 over the last three months. Corporate insiders own 0.46% of the company’s stock.
AVX Corporation, together with its subsidiaries, manufactures, supplies, and resells various electronic components, interconnect devices, sensing and control devices, and related products worldwide. The company operates through three segments: Electronic Components; Interconnect, Sensing and Control Devices; and Kyocera Electronic Devices Resale.
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