IFM Investors Pty Ltd boosted its holdings in shares of Avery Dennison Corp (NYSE:AVY) by 31.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,540 shares of the industrial products company’s stock after acquiring an additional 2,293 shares during the period. IFM Investors Pty Ltd’s holdings in Avery Dennison were worth $1,083,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also modified their holdings of AVY. AdvisorNet Financial Inc bought a new stake in shares of Avery Dennison in the 3rd quarter valued at about $28,000. TRUE Private Wealth Advisors bought a new stake in shares of Avery Dennison in the 2nd quarter valued at about $40,000. Amica Retiree Medical Trust bought a new stake in shares of Avery Dennison in the 2nd quarter valued at about $44,000. CSat Investment Advisory L.P. boosted its holdings in shares of Avery Dennison by 57.3% in the 2nd quarter. CSat Investment Advisory L.P. now owns 461 shares of the industrial products company’s stock valued at $53,000 after buying an additional 168 shares in the last quarter. Finally, Kavar Capital Partners LLC bought a new stake in shares of Avery Dennison in the 2nd quarter valued at about $55,000. Institutional investors own 88.37% of the company’s stock.
In related news, CAO Lori J. Bondar sold 4,213 shares of the stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $114.63, for a total value of $482,936.19. Following the completion of the transaction, the chief accounting officer now directly owns 21,641 shares of the company’s stock, valued at approximately $2,480,707.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Lori J. Bondar sold 2,600 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $115.90, for a total transaction of $301,340.00. Following the transaction, the vice president now directly owns 20,028 shares of the company’s stock, valued at $2,321,245.20. The disclosure for this sale can be found here. Insiders sold a total of 19,781 shares of company stock valued at $2,418,877 over the last ninety days. 1.30% of the stock is currently owned by insiders.
Shares of Avery Dennison stock traded up $1.16 during midday trading on Friday, hitting $133.83. The company had a trading volume of 408,045 shares, compared to its average volume of 583,428. The stock has a market cap of $11.13 billion, a price-to-earnings ratio of 22.08, a PEG ratio of 2.47 and a beta of 1.32. The company has a quick ratio of 0.74, a current ratio of 1.03 and a debt-to-equity ratio of 1.40. The company has a fifty day simple moving average of $118.55 and a 200 day simple moving average of $113.24. Avery Dennison Corp has a 12-month low of $82.89 and a 12-month high of $133.88.
Avery Dennison (NYSE:AVY) last announced its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $1.66 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.61 by $0.05. The firm had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.75 billion. Avery Dennison had a net margin of 3.37% and a return on equity of 53.79%. Avery Dennison’s revenue was up .0% on a year-over-year basis. During the same period last year, the firm posted $1.45 EPS. As a group, analysts expect that Avery Dennison Corp will post 6.55 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors 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 1.73%. The ex-dividend date is Tuesday, December 3rd. Avery Dennison’s payout ratio is currently 38.28%.
A number of research firms have recently weighed in on AVY. Berenberg Bank began coverage on shares of Avery Dennison in a report on Thursday, August 15th. They issued a “buy” rating and a $130.00 price target on the stock. Citigroup cut shares of Avery Dennison from a “buy” rating to a “neutral” rating and raised their price target for the company from $132.00 to $136.00 in a report on Thursday, October 24th. ValuEngine upgraded shares of Avery Dennison from a “sell” rating to a “hold” rating in a report on Tuesday, November 5th. Robert W. Baird raised their price target on shares of Avery Dennison from $125.00 to $140.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Finally, Zacks Investment Research upgraded shares of Avery Dennison from a “sell” rating to a “hold” rating and set a $134.00 price target on the stock in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. Avery Dennison has an average rating of “Hold” and a consensus price target of $126.00.
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.
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