Stifel Financial Corp decreased its holdings in shares of Avery Dennison Corp (NYSE:AVY) by 47.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,962 shares of the industrial products company’s stock after selling 13,727 shares during the period. Stifel Financial Corp’s holdings in Avery Dennison were worth $1,695,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Condor Capital Management raised its position in Avery Dennison by 0.7% during the 3rd quarter. Condor Capital Management now owns 20,296 shares of the industrial products company’s stock valued at $2,305,000 after purchasing an additional 139 shares during the last quarter. Great Lakes Advisors LLC raised its position in Avery Dennison by 5.2% during the 3rd quarter. Great Lakes Advisors LLC now owns 143,272 shares of the industrial products company’s stock valued at $16,271,000 after purchasing an additional 7,131 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new position in Avery Dennison during the 3rd quarter valued at approximately $33,000. Monte Financial Group LLC raised its position in Avery Dennison by 14.7% during the 3rd quarter. Monte Financial Group LLC now owns 4,284 shares of the industrial products company’s stock valued at $487,000 after purchasing an additional 549 shares during the last quarter. Finally, BBVA USA Bancshares Inc. bought a new position in Avery Dennison during the 3rd quarter valued at approximately $250,000. 88.15% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE:AVY opened at $129.62 on Friday. Avery Dennison Corp has a 52-week low of $82.89 and a 52-week high of $134.56. The firm has a market capitalization of $10.84 billion, a P/E ratio of 21.39, a P/E/G ratio of 2.41 and a beta of 1.30. The stock has a 50 day moving average price of $130.14 and a 200-day moving average price of $117.20. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.74 and a current ratio of 1.03.
Avery Dennison (NYSE:AVY) last announced its earnings results on Wednesday, October 23rd. The industrial products company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.61 by $0.05. Avery Dennison had a return on equity of 53.79% and a net margin of 3.37%. The firm had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.75 billion. During the same quarter in the prior year, the company earned $1.45 EPS. The business’s revenue was up .0% compared to the same quarter last year. On average, equities analysts forecast that Avery Dennison Corp will post 6.55 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be given a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 1.79%. The ex-dividend date is Tuesday, December 3rd. Avery Dennison’s dividend payout ratio is currently 38.28%.
A number of research analysts have commented on the company. ValuEngine raised Avery Dennison from a “sell” rating to a “hold” rating in a research report on Tuesday, November 5th. UBS Group lowered their price target on Avery Dennison from $130.00 to $129.00 and set a “buy” rating for the company in a research report on Friday, September 13th. Berenberg Bank started coverage on Avery Dennison in a research report on Thursday, August 15th. They issued a “buy” rating and a $130.00 target price for the company. Zacks Investment Research raised Avery Dennison from a “sell” rating to a “hold” rating and set a $134.00 target price for the company in a research report on Friday, October 25th. Finally, KeyCorp reissued a “hold” rating on shares of Avery Dennison in a research report on Friday, September 13th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company’s stock. Avery Dennison presently has a consensus rating of “Hold” and a consensus price target of $124.25.
In related news, Director Julia A. Stewart sold 6,318 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $130.00, for a total value of $821,340.00. Following the sale, the director now owns 18,624 shares in the company, valued at approximately $2,421,120. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Lori J. Bondar sold 4,500 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $126.00, for a total value of $567,000.00. Following the completion of the sale, the chief accounting officer now owns 12,928 shares in the company, valued at approximately $1,628,928. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by corporate insiders.
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.
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