BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in Avery Dennison Corp (NYSE:AVY) by 9.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 29,629 shares of the industrial products company’s stock after buying an additional 2,536 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Avery Dennison were worth $2,662,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Penserra Capital Management LLC bought a new stake in Avery Dennison in the fourth quarter valued at about $40,000. Bremer Trust National Association bought a new stake in Avery Dennison in the fourth quarter valued at about $42,000. Ipswich Investment Management Co. Inc. bought a new stake in Avery Dennison in the fourth quarter valued at about $49,000. Bessemer Group Inc. increased its holdings in Avery Dennison by 199.2% in the fourth quarter. Bessemer Group Inc. now owns 754 shares of the industrial products company’s stock valued at $68,000 after buying an additional 502 shares during the last quarter. Finally, Rockland Trust Co. bought a new stake in Avery Dennison in the fourth quarter valued at about $80,000. 84.50% of the stock is owned by hedge funds and other institutional investors.
In other news, insider Georges Gravanis sold 14,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $110.66, for a total transaction of $1,549,240.00. Following the completion of the transaction, the insider now directly owns 13,898 shares of the company’s stock, valued at $1,537,952.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Julia A. Stewart sold 5,027 shares of the company’s stock in a transaction that occurred on Friday, February 1st. The shares were sold at an average price of $104.19, for a total value of $523,763.13. The disclosure for this sale can be found here. Insiders have sold 235,664 shares of company stock valued at $25,593,024 over the last ninety days. Corporate insiders own 1.30% of the company’s stock.
Several brokerages recently weighed in on AVY. Zacks Investment Research raised Avery Dennison from a “sell” rating to a “hold” rating in a report on Wednesday, November 21st. ValuEngine raised Avery Dennison from a “sell” rating to a “hold” rating in a report on Wednesday, December 5th. UBS Group set a $125.00 price objective on Avery Dennison and gave the company a “buy” rating in a report on Friday, January 18th. Citigroup lowered their price objective on Avery Dennison from $122.00 to $110.00 and set a “buy” rating for the company in a report on Monday, January 7th. Finally, BMO Capital Markets boosted their price objective on Avery Dennison to $114.00 and gave the company a “market perform” rating in a report on Monday, February 4th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $119.50.
NYSE:AVY opened at $110.21 on Friday. The company has a market cap of $9.25 billion, a PE ratio of 18.19, a P/E/G ratio of 2.40 and a beta of 1.39. Avery Dennison Corp has a 52 week low of $82.89 and a 52 week high of $116.35. The company has a debt-to-equity ratio of 1.85, a current ratio of 1.15 and a quick ratio of 0.83.
Avery Dennison (NYSE:AVY) last posted its earnings results on Wednesday, January 30th. The industrial products company reported $1.52 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.50 by $0.02. The company had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.79 billion. Avery Dennison had a return on equity of 52.22% and a net margin of 6.53%. The business’s revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.33 earnings per share. Equities research analysts anticipate that Avery Dennison Corp will post 6.57 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.89%. The ex-dividend date is Tuesday, March 5th. Avery Dennison’s dividend payout ratio (DPR) is presently 34.32%.
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About Avery Dennison
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. It also offers durable cast and reflective films.
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