Bank of New York Mellon Corp trimmed its position in shares of AVX Co. (NYSE:AVX) by 3.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,002,076 shares of the electronics maker’s stock after selling 39,978 shares during the quarter. Bank of New York Mellon Corp’s holdings in AVX were worth $17,336,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in AVX. Wells Fargo & Company MN raised its position in shares of AVX by 3.1% during the fourth quarter. Wells Fargo & Company MN now owns 1,388,456 shares of the electronics maker’s stock worth $24,021,000 after acquiring an additional 41,245 shares during the last quarter. Schwab Charles Investment Management Inc. raised its position in shares of AVX by 2.9% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 452,506 shares of the electronics maker’s stock worth $7,829,000 after acquiring an additional 12,782 shares during the last quarter. Foundry Partners LLC raised its position in shares of AVX by 3.3% during the fourth quarter. Foundry Partners LLC now owns 317,163 shares of the electronics maker’s stock worth $5,487,000 after acquiring an additional 10,108 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of AVX by 5.6% during the fourth quarter. The Manufacturers Life Insurance Company now owns 243,323 shares of the electronics maker’s stock worth $4,210,000 after acquiring an additional 12,798 shares during the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of AVX by 6.5% during the fourth quarter. Victory Capital Management Inc. now owns 53,534 shares of the electronics maker’s stock worth $926,000 after acquiring an additional 3,248 shares during the last quarter. 25.47% of the stock is currently owned by hedge funds and other institutional investors.
AVX has been the subject of a number of analyst reports. Zacks Investment Research upgraded AVX from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a research report on Wednesday, February 14th. ValuEngine upgraded AVX from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st.
AVX (NYSE:AVX) last issued its earnings results on Thursday, January 25th. The electronics maker reported $0.22 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.04. The business had revenue of $431.80 million during the quarter, compared to the consensus estimate of $421.60 million. AVX had a return on equity of 6.12% and a net margin of 0.48%. The firm’s revenue for the quarter was up 26.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.21 earnings per share. equities analysts expect that AVX Co. will post 0.8 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, March 5th. Shareholders of record on Friday, February 23rd were issued a $0.115 dividend. The ex-dividend date was Thursday, February 22nd. This represents a $0.46 dividend on an annualized basis and a yield of 2.78%. AVX’s payout ratio is currently 920.18%.
In other AVX news, insider Zahir Dhanani bought 300,000 shares of the stock in a transaction on Thursday, January 18th. The stock was acquired at an average cost of $0.09 per share, for a total transaction of $27,000.00. Over the last quarter, insiders acquired 633,000 shares of company stock valued at $70,030. 0.50% of the stock is currently owned by corporate insiders.
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AVX Company Profile
AVX Corporation (AVX) is a manufacturer and supplier and reseller of a line of passive electronic components, interconnect devices and related products. AVX operates in three segments: Passive Components, Kyocera Electronic Devices (KED Resale) and Interconnect. The Passive Components segment consists of surface mount and leaded ceramic capacitors, surface mount and leaded tantalum capacitors, surface mount and leaded film capacitors, thick and thin film packages of multiple passive integrated components, thermistors, inductors and resistive products.
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