AVX Co. (AVX) Shares Bought by Van ECK Associates Corp

Van ECK Associates Corp increased its position in shares of AVX Co. (NYSE:AVX) by 12.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 60,941 shares of the electronics maker’s stock after purchasing an additional 6,970 shares during the period. Van ECK Associates Corp’s holdings in AVX were worth $1,009,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. Schwab Charles Investment Management Inc. lifted its stake in AVX by 2.9% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 452,506 shares of the electronics maker’s stock valued at $7,829,000 after buying an additional 12,782 shares during the period. Victory Capital Management Inc. grew its stake in AVX by 6.5% in the fourth quarter. Victory Capital Management Inc. now owns 53,534 shares of the electronics maker’s stock valued at $926,000 after purchasing an additional 3,248 shares in the last quarter. Teacher Retirement System of Texas acquired a new stake in shares of AVX in the fourth quarter valued at approximately $302,000. Wells Fargo & Company MN lifted its position in shares of AVX by 3.1% in the fourth quarter. Wells Fargo & Company MN now owns 1,388,456 shares of the electronics maker’s stock valued at $24,021,000 after buying an additional 41,245 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in AVX by 5.6% during the 4th quarter. The Manufacturers Life Insurance Company now owns 243,323 shares of the electronics maker’s stock worth $4,210,000 after purchasing an additional 12,798 shares during the last quarter. Hedge funds and other institutional investors own 24.72% of the company’s stock.

NYSE:AVX opened at $15.58 on Thursday. AVX Co. has a 1 year low of $14.51 and a 1 year high of $20.22. The firm has a market cap of $2.66 billion, a price-to-earnings ratio of 19.48 and a beta of 0.88.

AVX (NYSE:AVX) last announced its quarterly earnings data on Wednesday, April 25th. The electronics maker reported $0.19 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.19. AVX had a return on equity of 6.01% and a net margin of 0.31%. The firm had revenue of $446.60 million for the quarter, compared to analysts’ expectations of $410.00 million. During the same period last year, the firm earned $0.20 earnings per share. The company’s revenue for the quarter was up 35.5% compared to the same quarter last year. sell-side analysts forecast that AVX Co. will post 0.75 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 29th. Shareholders of record on Friday, June 15th will be given a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date of this dividend is Thursday, June 14th. AVX’s dividend payout ratio (DPR) is presently 57.50%.

In other news, Chairman John Sarvis sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, May 15th. The shares were sold at an average price of $15.71, for a total value of $94,260.00. Following the transaction, the chairman now directly owns 23,711 shares of the company’s stock, valued at $372,499.81. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Michael E. Hufnagel sold 3,000 shares of AVX stock in a transaction dated Tuesday, May 1st. The stock was sold at an average price of $16.74, for a total transaction of $50,220.00. Following the transaction, the chief accounting officer now directly owns 500 shares in the company, valued at $8,370. The disclosure for this sale can be found here. Insiders own 0.46% of the company’s stock.

AVX has been the subject of several analyst reports. Zacks Investment Research raised AVX from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a report on Tuesday, March 13th. ValuEngine raised AVX from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st.

About AVX

AVX Corporation, together with its subsidiaries, manufactures and supplies various passive electronic components, interconnect devices, and related products worldwide. The company operates through three segments: Passive Components, Kyocera Electronic Devices (KED Resale), and Interconnect. The Passive Components segment primarily offers surface mount and leaded ceramic capacitors, RF thick and thin film components, surface mount and leaded tantalum capacitors, surface mount and leaded film capacitors, ceramic and film power capacitors, super capacitors, EMI filters, thick and thin film packages of multiple passive integrated components, varistors, thermistors, inductors, and resistive products.

Institutional Ownership by Quarter for AVX (NYSE:AVX)

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