Bailard Inc. purchased a new stake in Avery Dennison Corp (NYSE:AVY) in the 4th quarter, according to its most recent filing with the SEC. The fund purchased 39,990 shares of the industrial products company’s stock, valued at approximately $4,593,000.
Other institutional investors and hedge funds have also modified their holdings of the company. West Oak Capital LLC raised its holdings in Avery Dennison by 114.3% in the 4th quarter. West Oak Capital LLC now owns 1,500 shares of the industrial products company’s stock valued at $172,000 after acquiring an additional 800 shares during the last quarter. Conning Inc. acquired a new position in Avery Dennison in the 3rd quarter valued at $200,000. Davidson & Garrard Inc. acquired a new position in Avery Dennison in the 3rd quarter valued at $202,000. Univest Corp of Pennsylvania acquired a new position in Avery Dennison in the 4th quarter valued at $205,000. Finally, Bank of Stockton acquired a new position in Avery Dennison in the 4th quarter valued at $206,000. Institutional investors own 85.62% of the company’s stock.
Shares of Avery Dennison Corp (NYSE:AVY) opened at $116.88 on Wednesday. The company has a market capitalization of $10,290.00, a price-to-earnings ratio of 37.34, a PEG ratio of 2.71 and a beta of 1.20. The company has a current ratio of 1.13, a quick ratio of 0.83 and a debt-to-equity ratio of 1.26. Avery Dennison Corp has a twelve month low of $78.47 and a twelve month high of $123.67.
Avery Dennison (NYSE:AVY) last released its quarterly earnings data on Wednesday, January 31st. The industrial products company reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.08. The business had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.70 billion. Avery Dennison had a return on equity of 42.26% and a net margin of 4.26%. The business’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.99 EPS. research analysts predict that Avery Dennison Corp will post 5.88 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 21st. Stockholders of record on Wednesday, March 7th will be issued a dividend of $0.45 per share. The ex-dividend date is Tuesday, March 6th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.54%. Avery Dennison’s payout ratio is 57.51%.
In related news, Director Peter K. Barker sold 2,000 shares of the company’s stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $114.76, for a total transaction of $229,520.00. Following the completion of the sale, the director now directly owns 26,703 shares of the company’s stock, valued at approximately $3,064,436.28. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Julia A. Stewart sold 4,000 shares of the company’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $108.42, for a total transaction of $433,680.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 16,855 shares of company stock valued at $1,866,802. 1.40% of the stock is owned by corporate insiders.
Several research analysts have weighed in on the company. JPMorgan Chase & Co. downgraded Avery Dennison from a “neutral” rating to an “underweight” rating and set a $113.00 price target for the company. in a report on Thursday, February 1st. Zacks Investment Research upgraded Avery Dennison from a “hold” rating to a “buy” rating and set a $136.00 price target for the company in a report on Monday, January 22nd. UBS Group initiated coverage on Avery Dennison in a report on Thursday, January 18th. They issued a “buy” rating and a $135.00 price target for the company. Bank of America upped their price objective on Avery Dennison from $128.00 to $133.00 and gave the stock a “buy” rating in a report on Thursday, February 1st. Finally, Barclays upped their price objective on Avery Dennison from $135.00 to $140.00 and gave the stock an “overweight” rating in a report on Monday. Five analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $122.75.
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About Avery Dennison
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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