Two Sigma Securities LLC acquired a new position in shares of Avery Dennison Corp (NYSE:AVY) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 3,242 shares of the industrial products company’s stock, valued at approximately $372,000.
Several other institutional investors also recently made changes to their positions in AVY. Cubist Systematic Strategies LLC raised its stake in Avery Dennison by 19.7% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 2,843 shares of the industrial products company’s stock valued at $280,000 after acquiring an additional 468 shares during the period. Sit Investment Associates Inc. raised its stake in Avery Dennison by 6.1% in the 4th quarter. Sit Investment Associates Inc. now owns 8,265 shares of the industrial products company’s stock valued at $949,000 after acquiring an additional 475 shares during the period. Ferguson Wellman Capital Management Inc. raised its stake in Avery Dennison by 0.7% in the 4th quarter. Ferguson Wellman Capital Management Inc. now owns 71,860 shares of the industrial products company’s stock valued at $8,254,000 after acquiring an additional 475 shares during the period. BKD Wealth Advisors LLC raised its stake in Avery Dennison by 17.8% in the 4th quarter. BKD Wealth Advisors LLC now owns 3,168 shares of the industrial products company’s stock valued at $364,000 after acquiring an additional 479 shares during the period. Finally, Norinchukin Bank The raised its stake in Avery Dennison by 7.4% in the 4th quarter. Norinchukin Bank The now owns 7,067 shares of the industrial products company’s stock valued at $812,000 after acquiring an additional 489 shares during the period. Institutional investors own 85.95% of the company’s stock.
A number of research firms recently weighed in on AVY. UBS began coverage on Avery Dennison in a research note on Thursday, January 18th. They issued a “buy” rating and a $135.00 price target on the stock. Zacks Investment Research cut Avery Dennison from a “buy” rating to a “hold” rating in a research note on Friday, January 5th. BMO Capital Markets began coverage on Avery Dennison in a research note on Tuesday, March 27th. They issued a “market perform” rating and a $120.00 price target on the stock. Bank of America upped their price objective on Avery Dennison from $128.00 to $133.00 and gave the company a “buy” rating in a report on Thursday, February 1st. Finally, Citigroup decreased their price objective on Avery Dennison from $140.00 to $125.00 and set a “buy” rating on the stock in a report on Thursday. One investment analyst has rated the stock with a sell rating, five have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Avery Dennison currently has a consensus rating of “Buy” and a consensus price target of $123.67.
Shares of NYSE AVY opened at $103.20 on Friday. 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 one year low of $79.13 and a one year high of $123.67. The firm has a market capitalization of $9,338.81, a price-to-earnings ratio of 20.64, a PEG ratio of 2.58 and a beta of 1.25.
Avery Dennison (NYSE:AVY) last released its earnings results on Wednesday, January 31st. The industrial products company reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.08. The company had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.70 billion. Avery Dennison had a return on equity of 42.26% and a net margin of 4.26%. Avery Dennison’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.99 EPS. equities analysts forecast that Avery Dennison Corp will post 5.88 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, March 21st. Stockholders of record on Wednesday, March 7th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.74%. The ex-dividend date was Tuesday, March 6th. Avery Dennison’s dividend payout ratio (DPR) is currently 36.00%.
In other news, Director Dean A. Scarborough sold 6,026 shares of the stock in a transaction on Monday, April 2nd. The stock was sold at an average price of $106.11, for a total transaction of $639,418.86. Following the sale, the director now directly owns 50,927 shares of the company’s stock, valued at approximately $5,403,863.97. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Anne Hill sold 21,134 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $118.07, for a total value of $2,495,291.38. Following the sale, the vice president now directly owns 41,863 shares in the company, valued at $4,942,764.41. The disclosure for this sale can be found here. Over the last three months, insiders have sold 166,409 shares of company stock worth $18,288,509. 1.30% of the stock is currently owned by insiders.
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About Avery Dennison
Avery Dennison Corporation produces and sells pressure-sensitive materials worldwide. The company's Label and Graphic Materials segment offers pressure-sensitive label and packaging materials; and graphics and reflective products under the Fasson, JAC, Avery Dennison, and Mactac brands. It also offers durable cast and reflective films.
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