Gulf International Bank UK Ltd Sells 227 Shares of Avery Dennison Co. (NYSE:AVY)

Gulf International Bank UK Ltd lowered its stake in shares of Avery Dennison Co. (NYSE:AVY) by 1.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,529 shares of the industrial products company’s stock after selling 227 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Avery Dennison were worth $3,632,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of AVY. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in Avery Dennison by 12.1% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 15,352 shares of the industrial products company’s stock valued at $3,228,000 after purchasing an additional 1,659 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its position in Avery Dennison by 202.3% during the second quarter. O Shaughnessy Asset Management LLC now owns 671 shares of the industrial products company’s stock valued at $141,000 after purchasing an additional 449 shares in the last quarter. Centaurus Financial Inc. purchased a new stake in Avery Dennison in the second quarter valued at about $110,000. Rockefeller Capital Management L.P. raised its stake in Avery Dennison by 18.3% in the second quarter. Rockefeller Capital Management L.P. now owns 1,097 shares of the industrial products company’s stock valued at $229,000 after buying an additional 170 shares during the last quarter. Finally, Citigroup Inc. raised its stake in Avery Dennison by 31.1% in the second quarter. Citigroup Inc. now owns 80,502 shares of the industrial products company’s stock valued at $16,924,000 after buying an additional 19,085 shares during the last quarter. 87.28% of the stock is currently owned by institutional investors.

In related news, Director Bradley A. Alford sold 6,318 shares of Avery Dennison stock in a transaction that occurred on Friday, November 5th. The stock was sold at an average price of $225.58, for a total transaction of $1,425,214.44. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Deena Baker-Nel sold 1,400 shares of Avery Dennison stock in a transaction that occurred on Friday, October 29th. The stock was sold at an average price of $217.00, for a total value of $303,800.00. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

A number of equities research analysts have commented on the company. Raymond James assumed coverage on Avery Dennison in a research note on Tuesday, November 23rd. They issued an “outperform” rating and a $240.00 price target for the company. UBS Group raised their price objective on Avery Dennison from $232.00 to $234.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 4th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $229.73.

Shares of NYSE:AVY opened at $209.08 on Friday. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.06 and a quick ratio of 0.73. The business’s 50 day moving average price is $214.19 and its 200-day moving average price is $214.10. The firm has a market capitalization of $17.31 billion, a PE ratio of 23.41, a P/E/G ratio of 3.10 and a beta of 1.00. Avery Dennison Co. has a 1 year low of $147.40 and a 1 year high of $229.24.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings results on Tuesday, October 26th. The industrial products company reported $2.14 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.04 by $0.10. The firm had revenue of $2.07 billion for the quarter, compared to analyst estimates of $2 billion. Avery Dennison had a return on equity of 46.22% and a net margin of 9.12%. The business’s revenue was up 19.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.91 earnings per share. As a group, analysts expect that Avery Dennison Co. will post 8.94 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 15th. Stockholders of record on Wednesday, December 1st were paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date was Tuesday, November 30th. Avery Dennison’s dividend payout ratio is presently 30.46%.

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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