Herold Advisors Inc. lifted its stake in Avery Dennison Co. (NYSE:AVY – Get Rating) by 10.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,987 shares of the industrial products company’s stock after purchasing an additional 737 shares during the period. Herold Advisors Inc.’s holdings in Avery Dennison were worth $1,292,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. ETF Managers Group LLC grew its holdings in Avery Dennison by 26.4% in the fourth quarter. ETF Managers Group LLC now owns 4,499 shares of the industrial products company’s stock valued at $969,000 after purchasing an additional 941 shares during the period. LPL Financial LLC increased its stake in Avery Dennison by 2.6% during the fourth quarter. LPL Financial LLC now owns 20,601 shares of the industrial products company’s stock valued at $4,462,000 after purchasing an additional 531 shares during the last quarter. LMR Partners LLP bought a new stake in Avery Dennison during the fourth quarter valued at $383,000. Avaii Wealth Management LLC bought a new position in shares of Avery Dennison during the fourth quarter worth about $244,000. Finally, State Street Corp grew its position in shares of Avery Dennison by 1.0% during the fourth quarter. State Street Corp now owns 3,923,611 shares of the industrial products company’s stock worth $849,736,000 after acquiring an additional 37,281 shares during the last quarter. Institutional investors and hedge funds own 90.21% of the company’s stock.
In other Avery Dennison news, Director Anthony Anderson sold 2,800 shares of the company’s stock in a transaction dated Wednesday, September 14th. The stock was sold at an average price of $178.82, for a total value of $500,696.00. Following the completion of the transaction, the director now owns 1,374 shares of the company’s stock, valued at approximately $245,698.68. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 1.00% of the company’s stock.
Wall Street Analysts Forecast Growth
Avery Dennison Trading Down 1.9 %
AVY stock traded down $3.29 during midday trading on Friday, reaching $165.62. The stock had a trading volume of 681,290 shares, compared to its average volume of 556,203. The business has a fifty day simple moving average of $186.54 and a two-hundred day simple moving average of $175.54. The company has a quick ratio of 0.65, a current ratio of 0.98 and a debt-to-equity ratio of 1.29. The firm has a market cap of $13.46 billion, a price-to-earnings ratio of 18.09, a PEG ratio of 2.49 and a beta of 0.97. Avery Dennison Co. has a twelve month low of $151.62 and a twelve month high of $229.24.
Avery Dennison (NYSE:AVY – Get Rating) last released its quarterly earnings data on Wednesday, July 27th. The industrial products company reported $2.64 earnings per share for the quarter, beating the consensus estimate of $2.37 by $0.27. The business had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.33 billion. Avery Dennison had a return on equity of 40.75% and a net margin of 8.48%. Avery Dennison’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.25 EPS. As a group, research analysts expect that Avery Dennison Co. will post 9.93 EPS for the current fiscal year.
Avery Dennison Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, September 21st. Investors of record on Wednesday, September 7th were paid a $0.75 dividend. The ex-dividend date was Tuesday, September 6th. This represents a $3.00 annualized dividend and a yield of 1.81%. Avery Dennison’s dividend payout ratio (DPR) is presently 32.79%.
Avery Dennison Profile
Avery Dennison Corporation manufactures and markets pressure-sensitive materials and products in the United States, Europe, Asia, Latin America, and internationally. 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, as well as durable cast and reflective films.
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