Alps Advisors Inc. decreased its holdings in Avery Dennison Corporation (NYSE:AVY) by 60.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,496 shares of the industrial products company’s stock after selling 5,276 shares during the period. Alps Advisors Inc.’s holdings in Avery Dennison were worth $344,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. National Asset Management Inc. lifted its stake in Avery Dennison by 0.3% in the second quarter. National Asset Management Inc. now owns 4,151 shares of the industrial products company’s stock worth $369,000 after purchasing an additional 12 shares during the last quarter. Veritable L.P. increased its holdings in Avery Dennison by 0.6% during the second quarter. Veritable L.P. now owns 2,777 shares of the industrial products company’s stock valued at $245,000 after buying an additional 16 shares during the period. CIBC Asset Management Inc grew its holdings in 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 during the last quarter. Spectrum Management Group Inc. grew its holdings in 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 during the last quarter. Finally, Thrivent Financial For Lutherans grew its holdings in 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 during the last quarter. 85.28% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Julia A. Stewart sold 4,000 shares of the stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $108.42, for a total value of $433,680.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Lori J. Bondar sold 10,855 shares of the 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 completion of the sale, the chief accounting officer now directly owns 18,556 shares of the company’s stock, valued at approximately $2,057,489.28. The disclosure for this sale can be found here. Insiders have sold 152,604 shares of company stock valued at $16,245,751 in the last three months. Corporate insiders own 1.40% of the company’s stock.
Shares of Avery Dennison Corporation (AVY) traded up $0.84 during trading on Thursday, hitting $112.35. 638,605 shares of the company’s stock were exchanged, compared to its average volume of 659,997. The firm has a market capitalization of $9,966.60, a P/E ratio of 24.24, a P/E/G ratio of 3.28 and a beta of 1.24. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.82 and a current ratio of 1.13. Avery Dennison Corporation has a 1-year low of $69.53 and a 1-year high of $114.79.
Avery Dennison (NYSE:AVY) last released its earnings results on Wednesday, October 25th. The industrial products company reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.05. The business had revenue of $1.68 billion during 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 quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.01 earnings per share. sell-side analysts expect that Avery Dennison Corporation will post 4.93 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 20th. Stockholders of record on Wednesday, December 6th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, December 5th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.60%. Avery Dennison’s dividend payout ratio is currently 40.18%.
Several equities research analysts have recently commented on the stock. Robert W. Baird reiterated a “buy” rating and set a $115.00 price objective on shares of Avery Dennison in a research note on Friday, October 27th. Zacks Investment Research downgraded shares of Avery Dennison from a “buy” rating to a “hold” rating in a research note on Tuesday, October 31st. Barclays boosted their target price on shares of Avery Dennison from $105.00 to $120.00 and gave the company an “overweight” rating in a research report on Monday, October 30th. J P Morgan Chase & Co downgraded shares of Avery Dennison from an “overweight” rating to a “neutral” rating in a research report on Thursday, October 26th. Finally, Loop Capital began coverage on shares of Avery Dennison in a research report on Thursday, September 28th. They set a “hold” rating and a $99.00 target price for the company. Four analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $110.83.
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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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