ING Groep NV decreased its stake in Avery Dennison Corporation (NYSE:AVY) by 0.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,520 shares of the industrial products company’s stock after selling 43 shares during the period. ING Groep NV’s holdings in Avery Dennison Corporation were worth $399,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Macquarie Group Ltd. raised its position in Avery Dennison Corporation by 314.8% in the fourth quarter. Macquarie Group Ltd. now owns 11,200 shares of the industrial products company’s stock valued at $787,000 after buying an additional 8,500 shares in the last quarter. Achmea Investment Management B.V. acquired a new position in Avery Dennison Corporation during the first quarter valued at $2,696,000. JPMorgan Chase & Co. raised its position in Avery Dennison Corporation by 43.6% in the first quarter. JPMorgan Chase & Co. now owns 572,631 shares of the industrial products company’s stock valued at $46,155,000 after buying an additional 173,901 shares in the last quarter. Russell Investments Group Ltd. raised its position in Avery Dennison Corporation by 5.4% in the first quarter. Russell Investments Group Ltd. now owns 51,004 shares of the industrial products company’s stock valued at $4,112,000 after buying an additional 2,631 shares in the last quarter. Finally, Atlantic Trust Group LLC raised its position in Avery Dennison Corporation by 0.7% in the first quarter. Atlantic Trust Group LLC now owns 10,766 shares of the industrial products company’s stock valued at $867,000 after buying an additional 78 shares in the last quarter. Hedge funds and other institutional investors own 88.28% of the company’s stock.
Avery Dennison Corporation (NYSE:AVY) traded down 0.13% during mid-day trading on Friday, hitting $93.04. The company’s stock had a trading volume of 416,462 shares. Avery Dennison Corporation has a 52-week low of $68.55 and a 52-week high of $96.70. The firm has a 50 day moving average of $92.57 and a 200-day moving average of $84.71. The firm has a market cap of $8.22 billion, a price-to-earnings ratio of 21.86 and a beta of 1.18.
Avery Dennison Corporation (NYSE:AVY) last released its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $1.31 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.21 by $0.10. The company had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.61 billion. Avery Dennison Corporation had a net margin of 6.14% and a return on equity of 39.29%. The business’s revenue was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.09 EPS. On average, equities research analysts expect that Avery Dennison Corporation will post $4.83 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders of record on Wednesday, September 6th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, September 1st. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.93%. Avery Dennison Corporation’s dividend payout ratio (DPR) is presently 42.25%.
AVY has been the topic of several recent analyst reports. KeyCorp reiterated a “hold” rating on shares of Avery Dennison Corporation in a report on Wednesday, April 26th. Zacks Investment Research lowered Avery Dennison Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Aegis reiterated a “hold” rating on shares of Avery Dennison Corporation in a report on Thursday, June 1st. Citigroup Inc. lifted their target price on Avery Dennison Corporation from $106.00 to $108.00 and gave the stock a “buy” rating in a report on Wednesday, July 26th. Finally, Bank of America Corporation raised Avery Dennison Corporation from a “neutral” rating to a “buy” rating and lifted their price target for the company from $90.00 to $96.00 in a research note on Tuesday, June 20th. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $91.67.
In related news, Director Patrick Siewert sold 10,000 shares of the firm’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $93.63, for a total value of $936,300.00. Following the transaction, the director now owns 10,519 shares of the company’s stock, valued at approximately $984,893.97. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Deon Stander sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $84.50, for a total transaction of $422,500.00. Following the completion of the transaction, the vice president now directly owns 10,998 shares in the company, valued at approximately $929,331. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,248 shares of company stock worth $1,890,817. 1.40% of the stock is owned by insiders.
Avery Dennison Corporation Company Profile
Avery Dennison Corporation (Avery Dennison) is engaged in the production of pressure-sensitive materials and a range of tickets, tags, labels and other converted products. The Company’s segments include Label and Graphic Materials (LGM); Retail Branding and Information Solutions (RBIS), and Industrial and Healthcare Materials (IHM).
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