ProVise Management Group LLC lifted its position in Avery Dennison Corporation (NYSE:AVY) by 18.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,807 shares of the industrial products company’s stock after buying an additional 1,046 shares during the period. ProVise Management Group LLC’s holdings in Avery Dennison were worth $669,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. National Asset Management Inc. increased its holdings in Avery Dennison by 0.3% during the second quarter. National Asset Management Inc. now owns 4,151 shares of the industrial products company’s stock valued at $369,000 after buying an additional 12 shares during the last quarter. Veritable L.P. increased its stake in shares of Avery Dennison by 0.6% in the second quarter. Veritable L.P. now owns 2,777 shares of the industrial products company’s stock worth $245,000 after purchasing an additional 16 shares in the last quarter. CIBC Asset Management Inc increased its stake in shares of Avery Dennison by 0.5% in the second quarter. CIBC Asset Management Inc now owns 8,592 shares of the industrial products company’s stock worth $759,000 after purchasing an additional 39 shares in the last quarter. Thrivent Financial For Lutherans increased its stake in shares of Avery Dennison by 0.9% in the second quarter. Thrivent Financial For Lutherans now owns 4,640 shares of the industrial products company’s stock worth $413,000 after purchasing an additional 40 shares in the last quarter. Finally, Spectrum Management Group Inc. increased its stake in shares of Avery Dennison by 0.8% in the second quarter. Spectrum Management Group Inc. now owns 5,030 shares of the industrial products company’s stock worth $445,000 after purchasing an additional 40 shares in the last quarter. Hedge funds and other institutional investors own 85.28% of the company’s stock.
A number of brokerages recently weighed in on AVY. Zacks Investment Research lowered shares of Avery Dennison from a “buy” rating to a “hold” rating in a research report on Tuesday, September 26th. Loop Capital assumed coverage on shares of Avery Dennison in a research report on Thursday, September 28th. They set a “hold” rating and a $99.00 price objective for the company. KeyCorp reiterated a “hold” rating on shares of Avery Dennison in a research report on Monday, October 30th. Robert W. Baird restated a “buy” rating and issued a $115.00 target price on shares of Avery Dennison in a report on Friday, October 27th. Finally, J P Morgan Chase & Co lowered shares of Avery Dennison from an “overweight” rating to a “neutral” rating in a report on Thursday, October 26th. Four analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $110.83.
Avery Dennison Corporation (AVY) traded up $0.84 during midday trading on Thursday, reaching $112.35. 638,605 shares of the company’s stock were exchanged, compared to its average volume of 659,997. Avery Dennison Corporation has a 1-year low of $69.53 and a 1-year high of $114.79. The stock has a market cap of $9,966.60, a P/E ratio of 24.24, a price-to-earnings-growth ratio of 3.28 and a beta of 1.24. The company has a quick ratio of 0.82, a current ratio of 1.13 and a debt-to-equity ratio of 1.14.
Avery Dennison (NYSE:AVY) last released its quarterly earnings results on Wednesday, October 25th. The industrial products company reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.05. The business had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.65 billion. Avery Dennison had a net margin of 6.27% and a return on equity of 40.52%. The company’s revenue was up 11.3% compared to the same quarter last year. During the same period last year, the business earned $1.01 EPS. equities research analysts expect that Avery Dennison Corporation will post 4.93 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 20th. Investors of record on Wednesday, December 6th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date is Tuesday, December 5th. Avery Dennison’s dividend payout ratio (DPR) is presently 40.18%.
In other news, Director Julia A. Stewart sold 4,000 shares of Avery Dennison stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $108.42, for a total transaction of $433,680.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Lori J. Bondar sold 10,855 shares of Avery Dennison stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $110.88, for a total transaction of $1,203,602.40. Following the transaction, the chief accounting officer now directly owns 18,556 shares of the company’s stock, valued at $2,057,489.28. The disclosure for this sale can be found here. Insiders sold a total of 152,604 shares of company stock valued at $16,245,751 over the last quarter. 1.40% of the stock is owned by company insiders.
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Avery Dennison Company Profile
Avery Dennison Corporation (Avery Dennison) is engaged in the production of pressure-sensitive materials and a range of tickets, tags, labels and other converted products. The Company’s segments include Label and Graphic Materials (LGM); Retail Branding and Information Solutions (RBIS), and Industrial and Healthcare Materials (IHM).
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