Schroder Investment Management Group lowered its holdings in shares of Avery Dennison Corp (NYSE:AVY) by 82.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 25,833 shares of the industrial products company’s stock after selling 117,744 shares during the quarter. Schroder Investment Management Group’s holdings in Avery Dennison were worth $2,799,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of AVY. JPMorgan Chase & Co. boosted its holdings in Avery Dennison by 55.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,810,315 shares of the industrial products company’s stock valued at $196,147,000 after acquiring an additional 648,126 shares during the period. Point72 Asset Management L.P. boosted its holdings in Avery Dennison by 312.9% during the 2nd quarter. Point72 Asset Management L.P. now owns 514,956 shares of the industrial products company’s stock valued at $52,577,000 after acquiring an additional 390,225 shares during the period. State Treasurer State of Michigan boosted its holdings in Avery Dennison by 1,024.1% during the 2nd quarter. State Treasurer State of Michigan now owns 291,426 shares of the industrial products company’s stock valued at $29,755,000 after acquiring an additional 265,500 shares during the period. Nomura Holdings Inc. boosted its holdings in Avery Dennison by 1,767.3% during the 2nd quarter. Nomura Holdings Inc. now owns 187,738 shares of the industrial products company’s stock valued at $19,168,000 after acquiring an additional 177,684 shares during the period. Finally, Natixis purchased a new position in Avery Dennison during the 2nd quarter valued at $15,143,000. Institutional investors own 83.98% of the company’s stock.
A number of research firms recently issued reports on AVY. ValuEngine upgraded Avery Dennison from a “sell” rating to a “hold” rating in a report on Wednesday. Zacks Investment Research cut Avery Dennison from a “hold” rating to a “sell” rating in a report on Wednesday, November 28th. UBS Group set a $135.00 target price on Avery Dennison and gave the company a “buy” rating in a research report on Tuesday, November 20th. Barclays decreased their target price on Avery Dennison from $135.00 to $130.00 and set an “overweight” rating for the company in a research report on Monday, October 29th. Finally, BMO Capital Markets set a $98.00 target price on Avery Dennison and gave the company a “hold” rating in a research report on Thursday, October 25th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $120.25.
Shares of NYSE AVY opened at $91.97 on Friday. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.00 and a quick ratio of 0.71. The firm has a market cap of $8.14 billion, a price-to-earnings ratio of 18.39, a PEG ratio of 2.22 and a beta of 1.38. Avery Dennison Corp has a twelve month low of $86.06 and a twelve month high of $123.67.
Avery Dennison (NYSE:AVY) last issued its earnings results on Tuesday, October 23rd. The industrial products company reported $1.45 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.47 by ($0.02). The firm had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.75 billion. Avery Dennison had a net margin of 4.36% and a return on equity of 49.86%. The company’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same period last year, the firm earned $1.26 earnings per share. Research analysts expect that Avery Dennison Corp will post 6.04 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 19th. Shareholders of record on Wednesday, December 5th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date of this dividend is Tuesday, December 4th. Avery Dennison’s dividend payout ratio (DPR) is presently 41.60%.
In other Avery Dennison news, Director David E. I. Pyott sold 2,000 shares of Avery Dennison stock in a transaction on Tuesday, November 27th. The stock was sold at an average price of $93.00, for a total transaction of $186,000.00. Following the completion of the sale, the director now directly owns 17,293 shares of the company’s stock, valued at approximately $1,608,249. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.30% of the company’s stock.
Avery Dennison Company Profile
Avery Dennison Corporation produces and sells pressure-sensitive materials worldwide. The company's Label and Graphic Materials segment offers pressure-sensitive label and packaging materials; and graphics and reflective products under the Fasson, JAC, Avery Dennison, and Mactac brands. It also offers durable cast and reflective films.
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