AVX Co. (NYSE:AVX) declared a quarterly dividend on Friday, October 19th, Wall Street Journal reports. Shareholders 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 yield of 2.86%. The ex-dividend date is Thursday, November 1st.
AVX has increased its dividend payment by an average of 4.5% per year over the last three years and has increased its dividend every year for the last 5 years. AVX has a dividend payout ratio of 35.7% meaning its dividend is sufficiently covered by earnings. Equities 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%.
AVX stock traded down $0.07 during mid-day trading on Friday, reaching $16.08. 196,775 shares of the company’s stock were exchanged, compared to its average volume of 285,122. The company has a market capitalization of $2.84 billion, a P/E ratio of 20.19 and a beta of 1.06. AVX has a 12-month low of $14.51 and a 12-month high of $21.48.
Several equities analysts have recently weighed in on AVX shares. ValuEngine downgraded AVX from a “buy” rating to a “hold” rating in a research report on Thursday, September 27th. Citigroup raised AVX from a “neutral” rating to a “buy” rating in a report on Tuesday, July 3rd. Zacks Investment Research raised AVX from a “hold” rating to a “strong-buy” rating and set a $23.00 price target for the company in a report on Monday, July 30th. Finally, Stifel Nicolaus increased their price target on AVX from $16.00 to $18.00 and gave the company a “hold” rating in a report on Thursday, July 26th.
In other AVX news, VP Willing King sold 10,000 shares of the firm’s stock in a transaction on Friday, August 31st. The stock was sold at an average price of $20.94, for a total transaction of $209,400.00. Following the completion of the sale, the vice president now owns 14,752 shares of the company’s stock, valued at $308,906.88. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Kurt P. Cummings sold 60,000 shares of the firm’s stock in a transaction on 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 directly owns 22,812 shares of the company’s stock, valued at approximately $430,462.44. The disclosure for this sale can be found here. In the last ninety days, insiders sold 101,086 shares of company stock valued at $1,957,042. 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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