NumerixS Investment Technologies Inc Buys New Holdings in Avery Dennison Corp (NYSE:AVY)

NumerixS Investment Technologies Inc bought a new position in Avery Dennison Corp (NYSE:AVY) during the 1st quarter, Holdings Channel reports. The fund bought 1,000 shares of the industrial products company’s stock, valued at approximately $114,000.

Other hedge funds have also recently modified their holdings of the company. Wealthcare Advisory Partners LLC increased its holdings in shares of Avery Dennison by 90.7% in the fourth quarter. Wealthcare Advisory Partners LLC now owns 286 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 136 shares during the last quarter. Icon Wealth Partners LLC bought a new stake in shares of Avery Dennison in the first quarter worth about $36,000. CSat Investment Advisory L.P. increased its holdings in shares of Avery Dennison by 60.8% in the fourth quarter. CSat Investment Advisory L.P. now owns 341 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 129 shares during the last quarter. Penserra Capital Management LLC bought a new stake in shares of Avery Dennison in the fourth quarter worth about $40,000. Finally, Bremer Trust National Association bought a new stake in shares of Avery Dennison in the fourth quarter worth about $42,000. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

In other Avery Dennison news, Director Ken C. Hicks sold 9,691 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $110.10, for a total transaction of $1,066,979.10. Following the completion of the transaction, the director now owns 28,396 shares in the company, valued at $3,126,399.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Lori J. Bondar sold 2,725 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $113.27, for a total value of $308,660.75. Following the transaction, the vice president now owns 18,041 shares of the company’s stock, valued at approximately $2,043,504.07. The disclosure for this sale can be found here. Insiders have sold 17,416 shares of company stock worth $1,933,140 over the last three months. 1.30% of the stock is currently owned by insiders.

Several equities research analysts have weighed in on the company. KeyCorp reissued a “hold” rating on shares of Avery Dennison in a research note on Wednesday, April 24th. JPMorgan Chase & Co. cut Avery Dennison from a “neutral” rating to an “underweight” rating and set a $105.00 price objective on the stock. in a research note on Thursday, April 18th. Zacks Investment Research cut Avery Dennison from a “buy” rating to a “hold” rating in a research note on Monday, April 8th. Finally, Loop Capital cut Avery Dennison from a “buy” rating to a “hold” rating in a research note on Wednesday, March 20th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company’s stock. Avery Dennison currently has an average rating of “Hold” and a consensus price target of $118.00.

Shares of NYSE AVY opened at $110.39 on Friday. The company has a current ratio of 1.14, a quick ratio of 0.80 and a debt-to-equity ratio of 1.77. Avery Dennison Corp has a 1-year low of $82.89 and a 1-year high of $117.00. The company has a market cap of $9.37 billion, a price-to-earnings ratio of 18.22, a P/E/G ratio of 2.05 and a beta of 1.33.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings data on Wednesday, April 24th. The industrial products company reported $1.48 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.46 by $0.02. Avery Dennison had a return on equity of 53.28% and a net margin of 2.74%. The company had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same period in the previous year, the firm posted $1.44 earnings per share. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. As a group, analysts predict that Avery Dennison Corp will post 6.55 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 19th. Shareholders of record on Wednesday, June 5th will be paid a dividend of $0.58 per share. This is a boost from Avery Dennison’s previous quarterly dividend of $0.52. This represents a $2.32 annualized dividend and a yield of 2.10%. The ex-dividend date of this dividend is Tuesday, June 4th. Avery Dennison’s payout ratio is presently 38.28%.

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Avery Dennison Company Profile

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, as well as durable cast and reflective films.

Further Reading: SEC Filing

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Institutional Ownership by Quarter for Avery Dennison (NYSE:AVY)

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