Robeco Institutional Asset Management B.V. increased its position in Avery Dennison Corp (NYSE:AVY) by 5.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 61,056 shares of the industrial products company’s stock after buying an additional 3,300 shares during the period. Robeco Institutional Asset Management B.V. owned about 0.07% of Avery Dennison worth $6,899,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of the stock. Wealthcare Advisory Partners LLC boosted its holdings in shares of Avery Dennison by 90.7% during the 4th quarter. Wealthcare Advisory Partners LLC now owns 286 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 136 shares during the last quarter. CSat Investment Advisory L.P. boosted its holdings in shares of Avery Dennison by 60.8% during the 4th quarter. CSat Investment Advisory L.P. now owns 341 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 129 shares during the last quarter. Penserra Capital Management LLC bought a new position in shares of Avery Dennison during the 4th quarter valued at about $40,000. Bremer Trust National Association bought a new position in shares of Avery Dennison during the 4th quarter valued at about $42,000. Finally, Ipswich Investment Management Co. Inc. bought a new position in shares of Avery Dennison during the 4th quarter valued at about $49,000. 90.24% of the stock is owned by institutional investors.
Shares of NYSE AVY opened at $103.40 on Thursday. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.80 and a current ratio of 1.14. The stock has a market cap of $8.76 billion, a PE ratio of 17.06, a price-to-earnings-growth ratio of 1.92 and a beta of 1.35. Avery Dennison Corp has a 12-month low of $82.89 and a 12-month high of $117.00.
Avery Dennison (NYSE:AVY) last announced its earnings results on Wednesday, April 24th. The industrial products company reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.02. The firm had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.77 billion. Avery Dennison had a net margin of 2.74% and a return on equity of 53.28%. The business’s revenue was down 2.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.44 EPS. As a group, sell-side analysts expect that Avery Dennison Corp will post 6.55 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 19th. Stockholders of record on Wednesday, June 5th will be given a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 2.24%. This is a boost from Avery Dennison’s previous quarterly dividend of $0.52. The ex-dividend date is Tuesday, June 4th. Avery Dennison’s dividend payout ratio is currently 34.32%.
Several research firms have commented on AVY. KeyCorp reissued a “sector weight” rating and set a $110.00 price objective on shares of Avery Dennison in a report on Sunday, April 7th. Zacks Investment Research downgraded shares of Avery Dennison from a “buy” rating to a “hold” rating in a report on Monday, April 8th. JPMorgan Chase & Co. downgraded shares of Avery Dennison from a “neutral” rating to an “underweight” rating and set a $105.00 price objective for the company. in a report on Thursday, April 18th. Loop Capital downgraded shares of Avery Dennison from a “buy” rating to a “hold” rating in a report on Wednesday, March 20th. They noted that the move was a valuation call. Finally, BMO Capital Markets increased their price objective on shares of Avery Dennison to $114.00 and gave the company a “market perform” rating in a report on Monday, February 4th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $118.44.
In other news, VP Deon Stander sold 7,500 shares of the company’s stock in a transaction dated Thursday, February 28th. The shares were sold at an average price of $109.51, for a total transaction of $821,325.00. Following the sale, the vice president now directly owns 42,702 shares in the company, valued at approximately $4,676,296.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Dean A. Scarborough sold 100,000 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $109.17, for a total transaction of $10,917,000.00. Following the sale, the director now owns 51,183 shares in the company, valued at $5,587,648.11. The disclosure for this sale can be found here. Insiders have sold a total of 238,328 shares of company stock worth $25,927,220 over the last 90 days. Corporate insiders own 1.30% of the company’s stock.
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, as well as durable cast and reflective films.
Further Reading: Systematic Risk and Investors
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