Capstone Asset Management Co. decreased its position in shares of Avery Dennison Corporation (NYSE:AVY) by 1.3% during the second quarter, according to its most recent filing with the SEC. The firm owned 8,920 shares of the industrial products company’s stock after selling 117 shares during the period. Capstone Asset Management Co.’s holdings in Avery Dennison Corporation were worth $788,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of AVY. American Beacon Advisors Inc. purchased a new position in Avery Dennison Corporation during the first quarter worth $105,000. Van ECK Associates Corp boosted its position in Avery Dennison Corporation by 7.7% in the first quarter. Van ECK Associates Corp now owns 1,322 shares of the industrial products company’s stock worth $107,000 after buying an additional 94 shares during the period. Bronfman E.L. Rothschild L.P. boosted its position in Avery Dennison Corporation by 21.1% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 1,737 shares of the industrial products company’s stock worth $140,000 after buying an additional 303 shares during the period. Ameritas Investment Partners Inc. purchased a new position in Avery Dennison Corporation during the first quarter worth $171,000. Finally, Mn Services Vermogensbeheer B.V. boosted its position in Avery Dennison Corporation by 4.7% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 2,373 shares of the industrial products company’s stock worth $179,000 after buying an additional 107 shares during the period. Institutional investors and hedge funds own 87.60% of the company’s stock.
Shares of Avery Dennison Corporation (NYSE:AVY) opened at 93.02 on Friday. The stock has a market capitalization of $8.22 billion, a price-to-earnings ratio of 21.85 and a beta of 1.18. The company has a 50-day moving average of $91.80 and a 200-day moving average of $84.00. Avery Dennison Corporation has a 1-year low of $68.55 and a 1-year high of $96.70.
Avery Dennison Corporation (NYSE:AVY) last announced its earnings results on Tuesday, July 25th. The industrial products company reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.10. Avery Dennison Corporation had a return on equity of 39.29% and a net margin of 6.14%. The company had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.61 billion. During the same period last year, the business posted $1.09 EPS. Avery Dennison Corporation’s revenue for the quarter was up 5.7% on a year-over-year basis. On average, equities research analysts expect that Avery Dennison Corporation will post $4.83 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 20th. Investors of record on Wednesday, September 6th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date of this dividend is Friday, September 1st. Avery Dennison Corporation’s dividend payout ratio (DPR) is 42.25%.
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AVY has been the subject of a number of recent analyst reports. Zacks Investment Research raised shares of Avery Dennison Corporation from a “hold” rating to a “buy” rating and set a $93.00 target price for the company in a research note on Monday, May 22nd. Bank of America Corporation raised shares of Avery Dennison Corporation from a “neutral” rating to a “buy” rating and boosted their target price for the company from $90.00 to $96.00 in a research note on Tuesday, June 20th. Citigroup Inc. boosted their target price on shares of Avery Dennison Corporation from $106.00 to $108.00 and gave the company a “buy” rating in a research note on Wednesday, July 26th. BidaskClub lowered shares of Avery Dennison Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 9th. Finally, Aegis reissued a “hold” rating on shares of Avery Dennison Corporation in a research note on Thursday, June 1st. Three research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $91.67.
In related news, Director Anthony Anderson sold 950 shares of the firm’s stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $84.42, for a total transaction of $80,199.00. Following the completion of the transaction, the director now directly owns 7,492 shares in the company, valued at approximately $632,474.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Patrick Siewert sold 10,000 shares of Avery Dennison Corporation stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $93.63, for a total value of $936,300.00. Following the completion of the transaction, the director now owns 10,519 shares of the company’s stock, valued at approximately $984,893.97. The disclosure for this sale can be found here. Insiders have sold a total of 22,198 shares of company stock valued at $1,971,016 over the last 90 days. 1.40% of the stock is currently owned by company insiders.
About Avery Dennison Corporation
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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