Nomura Holdings Inc. Buys 5,062 Shares of Avery Dennison Corporation (AVY)

Nomura Holdings Inc. lifted its position in Avery Dennison Corporation (NYSE:AVY) by 113.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 9,506 shares of the industrial products company’s stock after buying an additional 5,062 shares during the period. Nomura Holdings Inc.’s holdings in Avery Dennison Corporation were worth $840,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Veritable L.P. lifted its stake in shares of Avery Dennison Corporation 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 buying an additional 16 shares in the last quarter. Private Trust Co. NA lifted its stake in shares of Avery Dennison Corporation by 0.5% in the second quarter. Private Trust Co. NA now owns 5,327 shares of the industrial products company’s stock worth $470,000 after buying an additional 28 shares in the last quarter. United Capital Financial Advisers LLC lifted its stake in shares of Avery Dennison Corporation by 0.5% in the first quarter. United Capital Financial Advisers LLC now owns 6,924 shares of the industrial products company’s stock worth $558,000 after buying an additional 36 shares in the last quarter. CIBC Asset Management Inc lifted its position in Avery Dennison Corporation by 0.5% during the second quarter. CIBC Asset Management Inc now owns 8,592 shares of the industrial products company’s stock valued at $759,000 after purchasing an additional 39 shares during the period. Finally, Spectrum Management Group Inc. lifted its position in Avery Dennison Corporation by 0.8% during the second quarter. Spectrum Management Group Inc. now owns 5,030 shares of the industrial products company’s stock valued at $445,000 after purchasing an additional 40 shares during the period. Hedge funds and other institutional investors own 86.54% of the company’s stock.

Avery Dennison Corporation (NYSE:AVY) traded up 1.19% during trading on Friday, reaching $106.11. 692,252 shares of the company traded hands. The firm has a 50-day moving average price of $98.72 and a 200-day moving average price of $90.71. The company has a market capitalization of $9.38 billion, a P/E ratio of 24.93 and a beta of 1.19. Avery Dennison Corporation has a 52 week low of $68.55 and a 52 week high of $106.24.

Avery Dennison Corporation (NYSE:AVY) last posted its quarterly earnings results on Wednesday, October 25th. The industrial products company reported $1.26 EPS for the quarter, beating the consensus estimate of $1.21 by $0.05. The company had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.65 billion. Avery Dennison Corporation had a return on equity of 40.49% and a net margin of 6.27%. The firm’s revenue was up 11.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.01 EPS. Analysts forecast that Avery Dennison Corporation will post $4.87 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 20th. Stockholders of record on Wednesday, December 6th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.70%. Avery Dennison Corporation’s dividend payout ratio is currently 40.18%.

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In other news, Director David E. I. Pyott sold 2,000 shares of Avery Dennison Corporation stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $94.00, for a total value of $188,000.00. Following the transaction, the director now directly owns 16,601 shares of the company’s stock, valued at approximately $1,560,494. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David E. I. Pyott sold 298 shares of Avery Dennison Corporation stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $94.00, for a total value of $28,012.00. Following the completion of the transaction, the director now directly owns 16,601 shares in the company, valued at $1,560,494. The disclosure for this sale can be found here. Insiders sold a total of 12,298 shares of company stock worth $1,152,312 over the last ninety days. Corporate insiders own 1.40% of the company’s stock.

A number of research analysts recently weighed in on the stock. J P Morgan Chase & Co downgraded shares of Avery Dennison Corporation from an “overweight” rating to a “neutral” rating in a research report on Thursday. Robert W. Baird restated a “buy” rating and set a $115.00 price objective on shares of Avery Dennison Corporation in a research report on Friday. Zacks Investment Research raised shares of Avery Dennison Corporation from a “sell” rating to a “buy” rating and set a $117.00 target price for the company in a report on Friday. Loop Capital upped their target price on shares of Avery Dennison Corporation from $99.00 to $106.00 and gave the company a “hold” rating in a report on Thursday. Finally, KeyCorp reaffirmed a “hold” rating on shares of Avery Dennison Corporation in a report on Friday, September 22nd. Four research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $101.86.

Avery Dennison Corporation 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).

Institutional Ownership by Quarter for Avery Dennison Corporation (NYSE:AVY)

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