UBS Asset Management Americas Inc. lowered its holdings in shares of Avery Dennison Corp (NYSE:AVY) by 4.7% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 499,491 shares of the industrial products company’s stock after selling 24,778 shares during the quarter. UBS Asset Management Americas Inc.’s holdings in Avery Dennison were worth $57,372,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also bought and sold shares of the company. BlackRock Inc. lifted its holdings in shares of Avery Dennison by 3.2% during the fourth quarter. BlackRock Inc. now owns 6,761,758 shares of the industrial products company’s stock valued at $776,657,000 after acquiring an additional 209,963 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of Avery Dennison by 24.5% during the fourth quarter. Wells Fargo & Company MN now owns 1,186,196 shares of the industrial products company’s stock valued at $136,247,000 after acquiring an additional 233,134 shares during the period. APG Asset Management N.V. lifted its holdings in shares of Avery Dennison by 125.4% during the fourth quarter. APG Asset Management N.V. now owns 1,145,053 shares of the industrial products company’s stock valued at $109,528,000 after acquiring an additional 637,000 shares during the period. Westfield Capital Management Co. LP lifted its holdings in shares of Avery Dennison by 21.3% during the third quarter. Westfield Capital Management Co. LP now owns 911,591 shares of the industrial products company’s stock valued at $89,646,000 after acquiring an additional 159,800 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ lifted its holdings in shares of Avery Dennison by 15.3% during the third quarter. Skandinaviska Enskilda Banken AB publ now owns 856,936 shares of the industrial products company’s stock valued at $84,271,000 after acquiring an additional 113,600 shares during the period. Hedge funds and other institutional investors own 83.65% of the company’s stock.
AVY has been the subject of a number of analyst reports. Zacks Investment Research raised Avery Dennison from a “hold” rating to a “buy” rating and set a $120.00 price objective for the company in a report on Tuesday, November 7th. Bank of America lifted their price target on Avery Dennison from $128.00 to $133.00 and gave the company a “buy” rating in a report on Thursday, February 1st. KeyCorp reaffirmed a “hold” rating on shares of Avery Dennison in a report on Monday, October 30th. JPMorgan Chase & Co. cut 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. Finally, Barclays lifted their price target on Avery Dennison from $105.00 to $120.00 and gave the company an “overweight” rating in a report on Monday, October 30th. Five 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 company has a consensus rating of “Buy” and an average price target of $122.75.
In other Avery Dennison news, Director Anthony Anderson sold 2,770 shares of the business’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $117.50, for a total transaction of $325,475.00. Following the completion of the sale, the director now directly owns 4,014 shares of the company’s stock, valued at approximately $471,645. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Peter K. Barker sold 2,000 shares of the business’s stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of $114.76, for a total value of $229,520.00. Following the sale, the director now directly owns 26,703 shares of the company’s stock, valued at $3,064,436.28. The disclosure for this sale can be found here. Insiders own 1.40% of the company’s stock.
Avery Dennison Corp (NYSE:AVY) opened at $119.13 on Friday. The company has a quick ratio of 0.83, a current ratio of 1.13 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. The stock has a market capitalization of $10,490.00, a PE ratio of 23.50, a P/E/G ratio of 2.90 and a beta of 1.20.
Avery Dennison (NYSE:AVY) last released its quarterly earnings results on Wednesday, January 31st. The industrial products company reported $1.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.25 by $0.08. Avery Dennison had a return on equity of 42.26% and a net margin of 4.26%. The business had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.70 billion. During the same period in the previous year, the business posted $0.99 earnings per share. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. research analysts predict that Avery Dennison Corp will post 5.88 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 21st. Shareholders of record on Wednesday, March 7th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, March 6th. This represents a $1.80 annualized dividend and a yield of 1.51%. Avery Dennison’s dividend payout ratio is currently 35.50%.
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Avery Dennison 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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