Smithfield Trust Co. cut its position in Avery Dennison Corporation (NYSE:AVY) by 4.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,138 shares of the industrial products company’s stock after selling 102 shares during the period. Smithfield Trust Co.’s holdings in Avery Dennison Corporation were worth $189,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AVY. American Beacon Advisors Inc. acquired a new position in Avery Dennison Corporation during the first quarter worth $105,000. Van ECK Associates Corp raised its position in Avery Dennison Corporation by 7.7% in the first quarter. Van ECK Associates Corp now owns 1,322 shares of the industrial products company’s stock worth $107,000 after buying an additional 94 shares during the period. Bronfman E.L. Rothschild L.P. raised its position in Avery Dennison Corporation by 21.1% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 1,737 shares of the industrial products company’s stock worth $140,000 after buying an additional 303 shares during the period. Ameritas Investment Partners Inc. acquired a new position in Avery Dennison Corporation during the first quarter worth $171,000. Finally, Mn Services Vermogensbeheer B.V. raised its position in Avery Dennison Corporation by 4.7% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 2,373 shares of the industrial products company’s stock worth $179,000 after buying an additional 107 shares during the period. 88.28% of the stock is currently owned by institutional investors and hedge funds.
Shares of Avery Dennison Corporation (NYSE:AVY) traded down 0.13% during mid-day trading on Friday, hitting $93.04. 416,462 shares of the stock were exchanged. The company has a 50-day moving average of $92.57 and a 200 day moving average of $84.71. Avery Dennison Corporation has a one year low of $68.55 and a one year high of $96.70. The stock has a market cap of $8.22 billion, a PE ratio of 21.86 and a beta of 1.18.
Avery Dennison Corporation (NYSE:AVY) last posted its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $1.31 earnings per share 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 the consensus estimate of $1.61 billion. Avery Dennison Corporation had a net margin of 6.14% and a return on equity of 39.29%. Avery Dennison Corporation’s revenue was up 5.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.09 earnings per share. On average, equities analysts predict that Avery Dennison Corporation will post $4.83 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Wednesday, September 6th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date is Friday, September 1st. Avery Dennison Corporation’s dividend payout ratio is currently 42.25%.
A number of research analysts have weighed in on the stock. Aegis reissued a “hold” rating on shares of Avery Dennison Corporation in a research note on Thursday, June 1st. BidaskClub raised shares of Avery Dennison Corporation from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, June 28th. Zacks Investment Research lowered shares of Avery Dennison Corporation from a “buy” rating to a “hold” rating in a research note on Friday, May 19th. Bank of America Corporation upgraded shares of Avery Dennison Corporation from a “neutral” rating to a “buy” rating and raised their price target for the stock from $90.00 to $96.00 in a report on Tuesday, June 20th. Finally, Citigroup Inc. raised their price target on shares of Avery Dennison Corporation from $106.00 to $108.00 and gave the stock a “buy” rating in a report on Wednesday, July 26th. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Avery Dennison Corporation presently has a consensus rating of “Buy” and a consensus target price of $91.67.
In other Avery Dennison Corporation news, Director Patrick Siewert sold 10,000 shares of the stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $93.63, for a total transaction of $936,300.00. Following the transaction, the director now owns 10,519 shares of the company’s stock, valued at $984,893.97. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Deon Stander sold 5,000 shares of the stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $84.50, for a total transaction of $422,500.00. Following 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 have sold 21,248 shares of company stock worth $1,890,817. 1.40% of the stock is currently owned by insiders.
About Avery Dennison Corporation
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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