Parametric Portfolio Associates LLC increased its holdings in shares of Avery Dennison Corporation (NYSE:AVY) by 4.0% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 386,686 shares of the industrial products company’s stock after purchasing an additional 15,005 shares during the quarter. Parametric Portfolio Associates LLC owned 0.44% of Avery Dennison worth $38,027,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also bought and sold shares of AVY. ETRADE Capital Management LLC grew its position in shares of Avery Dennison by 12.8% during the third quarter. ETRADE Capital Management LLC now owns 20,961 shares of the industrial products company’s stock worth $2,061,000 after buying an additional 2,377 shares in the last quarter. Federated Investors Inc. PA grew its position in shares of Avery Dennison by 1,038.8% during the second quarter. Federated Investors Inc. PA now owns 99,245 shares of the industrial products company’s stock worth $8,770,000 after buying an additional 90,530 shares in the last quarter. Piedmont Investment Advisors LLC grew its position in shares of Avery Dennison by 77.6% during the third quarter. Piedmont Investment Advisors LLC now owns 44,577 shares of the industrial products company’s stock worth $4,384,000 after buying an additional 19,479 shares in the last quarter. Schwab Charles Investment Management Inc. grew its position in shares of Avery Dennison by 24.5% during the second quarter. Schwab Charles Investment Management Inc. now owns 501,062 shares of the industrial products company’s stock worth $44,279,000 after buying an additional 98,593 shares in the last quarter. Finally, Kings Point Capital Management acquired a new stake in shares of Avery Dennison during the second quarter worth approximately $2,831,000. 84.82% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have recently weighed in on AVY shares. Zacks Investment Research raised shares of Avery Dennison from a “sell” rating to a “buy” rating and set a $117.00 price target for the company in a research report on Friday, October 27th. Robert W. Baird restated a “buy” rating and set a $115.00 price objective on shares of Avery Dennison in a research note on Friday, October 27th. KeyCorp restated a “hold” rating on shares of Avery Dennison in a research note on Monday, October 30th. Loop Capital initiated coverage on Avery Dennison in a research note on Thursday, September 28th. They set a “hold” rating and a $99.00 price objective on the stock. Finally, JPMorgan Chase & Co. cut Avery Dennison from an “overweight” rating to a “neutral” rating in a research note on Thursday, October 26th. Four investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Avery Dennison has an average rating of “Buy” and a consensus price target of $112.83.
In related news, Director Peter K. Barker sold 2,000 shares of Avery Dennison stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of $114.76, for a total transaction of $229,520.00. Following the transaction, the director now directly owns 26,703 shares of the company’s stock, valued at $3,064,436.28. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Mitchell R. Butier sold 77,551 shares of Avery Dennison stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $106.31, for a total value of $8,244,446.81. Following the transaction, the insider now directly owns 130,673 shares in the company, valued at $13,891,846.63. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 154,604 shares of company stock worth $16,475,271. Company insiders own 1.40% of the company’s stock.
Avery Dennison Corporation (NYSE:AVY) traded down $0.22 during mid-day trading on Friday, reaching $119.35. The company’s stock had a trading volume of 498,611 shares, compared to its average volume of 628,017. Avery Dennison Corporation has a 12 month low of $71.39 and a 12 month high of $120.32. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.13 and a quick ratio of 0.82. The company has a market capitalization of $10,510.00, a PE ratio of 26.64, a price-to-earnings-growth ratio of 3.13 and a beta of 1.24.
Avery Dennison (NYSE:AVY) last issued its quarterly earnings data 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. Avery Dennison had a net margin of 6.27% and a return on equity of 40.52%. The business had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.65 billion. During the same period in the previous year, the business earned $1.01 earnings per share. The company’s revenue was up 11.3% on a year-over-year basis. analysts predict that Avery Dennison Corporation will post 4.93 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 20th. Investors of record on Wednesday, December 6th were paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date was Tuesday, December 5th. Avery Dennison’s dividend payout ratio is currently 40.18%.
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About Avery Dennison
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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