Chevy Chase Trust Holdings Inc. boosted its position in shares of Avery Dennison Corporation (NYSE:AVY) by 1.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 133,036 shares of the industrial products company’s stock after buying an additional 1,438 shares during the period. Chevy Chase Trust Holdings Inc. owned 0.15% of Avery Dennison worth $13,082,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. ETRADE Capital Management LLC increased its position in 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 during the period. Federated Investors Inc. PA increased its position in 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 during the period. Schwab Charles Investment Management Inc. increased its holdings in shares of Avery Dennison by 24.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 501,062 shares of the industrial products company’s stock valued at $44,279,000 after purchasing an additional 98,593 shares during the period. Kings Point Capital Management acquired a new position in shares of Avery Dennison in the second quarter valued at approximately $2,831,000. Finally, JPMorgan Chase & Co. increased its holdings in shares of Avery Dennison by 2.2% in the second quarter. JPMorgan Chase & Co. now owns 585,504 shares of the industrial products company’s stock valued at $51,742,000 after purchasing an additional 12,873 shares during the period. 85.42% of the stock is currently owned by institutional investors.
Avery Dennison Corporation (NYSE:AVY) opened at $114.46 on Wednesday. Avery Dennison Corporation has a twelve month low of $69.53 and a twelve month high of $115.56. The firm has a market capitalization of $10,122.42, a price-to-earnings ratio of 24.62, a P/E/G ratio of 3.33 and a beta of 1.24. The company has a current ratio of 1.13, a quick ratio of 0.82 and a debt-to-equity ratio of 1.14.
Avery Dennison (NYSE:AVY) last announced its quarterly earnings data on Wednesday, October 25th. The industrial products company reported $1.26 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.21 by $0.05. Avery Dennison had a return on equity of 40.52% and a net margin of 6.27%. The firm had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same quarter in the prior year, the company posted $1.01 earnings per share. Avery Dennison’s quarterly revenue was up 11.3% on a year-over-year basis. analysts expect that Avery Dennison Corporation will post 4.93 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 20th. Investors of record on Wednesday, December 6th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date is Tuesday, December 5th. Avery Dennison’s dividend payout ratio is presently 40.18%.
A number of research firms have recently issued reports on AVY. KeyCorp reissued a “hold” rating on shares of Avery Dennison in a report on Monday, October 30th. Zacks Investment Research lowered Avery Dennison from a “buy” rating to a “hold” rating in a report on Tuesday, October 31st. J P Morgan Chase & Co lowered Avery Dennison from an “overweight” rating to a “neutral” rating in a report on Thursday, October 26th. Loop Capital boosted their target price on Avery Dennison from $99.00 to $106.00 and gave the company a “hold” rating in a report on Thursday, October 26th. Finally, Barclays boosted their target price on Avery Dennison from $105.00 to $120.00 and gave the company an “overweight” rating in a report on Monday, October 30th. Four research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $110.83.
In other Avery Dennison news, VP Susan C. Miller sold 6,518 shares of the business’s stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $105.17, for a total transaction of $685,498.06. Following the sale, the vice president now directly owns 13,409 shares in the company, valued at $1,410,224.53. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Lori J. Bondar sold 10,855 shares of the business’s stock in a transaction on Monday, November 20th. The stock was sold at an average price of $110.88, for a total value of $1,203,602.40. Following the sale, the chief accounting officer now owns 18,556 shares in the company, valued at $2,057,489.28. The disclosure for this sale can be found here. Insiders have sold 152,604 shares of company stock worth $16,245,751 in the last ninety days. 1.40% of the stock is currently owned by corporate insiders.
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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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