Johnson Investment Counsel Inc. Has $2.79 Million Stake in Avery Dennison Co. (NYSE:AVY)

Johnson Investment Counsel Inc. decreased its position in Avery Dennison Co. (NYSE:AVY) by 0.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 13,281 shares of the industrial products company’s stock after selling 110 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in Avery Dennison were worth $2,792,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently made changes to their positions in AVY. Rockefeller Capital Management L.P. grew its stake in shares of Avery Dennison by 10.6% in the 1st quarter. Rockefeller Capital Management L.P. now owns 927 shares of the industrial products company’s stock valued at $170,000 after buying an additional 89 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its position in Avery Dennison by 71.6% during the first quarter. Mercer Global Advisors Inc. ADV now owns 4,077 shares of the industrial products company’s stock worth $749,000 after purchasing an additional 1,701 shares during the period. Sei Investments Co. boosted its position in Avery Dennison by 3.4% during the first quarter. Sei Investments Co. now owns 38,661 shares of the industrial products company’s stock worth $6,347,000 after purchasing an additional 1,269 shares during the period. Panagora Asset Management Inc. boosted its position in Avery Dennison by 2.9% during the first quarter. Panagora Asset Management Inc. now owns 17,915 shares of the industrial products company’s stock worth $3,290,000 after purchasing an additional 497 shares during the period. Finally, Waddell & Reed Financial Inc. boosted its position in Avery Dennison by 4.2% during the first quarter. Waddell & Reed Financial Inc. now owns 261,448 shares of the industrial products company’s stock worth $48,015,000 after purchasing an additional 10,561 shares during the period. 87.04% of the stock is owned by institutional investors and hedge funds.

AVY opened at $205.42 on Thursday. Avery Dennison Co. has a 1-year low of $129.39 and a 1-year high of $228.88. The company has a current ratio of 1.32, a quick ratio of 0.92 and a debt-to-equity ratio of 1.19. The stock has a market capitalization of $17.03 billion, a price-to-earnings ratio of 23.45, a P/E/G ratio of 3.58 and a beta of 1.00. The business has a 50 day moving average of $217.20 and a 200-day moving average of $211.44.

Avery Dennison (NYSE:AVY) last issued its earnings results on Tuesday, July 27th. The industrial products company reported $2.25 EPS for the quarter, beating analysts’ consensus estimates of $2.07 by $0.18. The business had revenue of $2.10 billion during the quarter, compared to analyst estimates of $1.96 billion. Avery Dennison had a return on equity of 48.53% and a net margin of 9.34%. Equities analysts predict that Avery Dennison Co. will post 8.94 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 15th. Investors of record on Wednesday, September 1st were paid a $0.68 dividend. The ex-dividend date of this dividend was Tuesday, August 31st. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.32%. Avery Dennison’s payout ratio is 38.31%.

In related news, VP Ignacio J. Walker sold 477 shares of the company’s stock in a transaction on Friday, September 3rd. The stock was sold at an average price of $226.66, for a total value of $108,116.82. Following the completion of the transaction, the vice president now directly owns 3,850 shares in the company, valued at $872,641. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.00% of the company’s stock.

A number of brokerages have issued reports on AVY. Morgan Stanley upped their target price on Avery Dennison from $215.00 to $225.00 and gave the stock an “equal weight” rating in a research report on Monday, August 2nd. Zacks Investment Research cut Avery Dennison from a “buy” rating to a “hold” rating and set a $226.00 target price for the company. in a research report on Monday, August 9th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $223.73.

About Avery Dennison

Avery Dennison Corp. engages in the provision of labeling and packaging materials and solutions. It operates through the following segments: Label & Graphic Materials, Retail Branding & Information Solutions and Industrial & Healthcare Materials. The Label and Graphic Materials segment manufactures and sells Fasson, JAC, and Avery Dennison-brand pressure-sensitive label and packaging materials, Avery Dennison and Mactac brand graphics, and Avery Dennison brand reflective products.

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

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