Alpine Woods Capital Investors LLC raised its position in shares of Avery Dennison Corporation (NYSE:AVY) by 80.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 24,400 shares of the industrial products company’s stock after buying an additional 10,900 shares during the period. Alpine Woods Capital Investors LLC’s holdings in Avery Dennison Corporation were worth $2,156,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AVY. Macquarie Group Ltd. increased 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 worth $787,000 after buying an additional 8,500 shares during the period. Raymond James Trust N.A. increased its position in Avery Dennison Corporation by 15.9% in the first quarter. Raymond James Trust N.A. now owns 3,355 shares of the industrial products company’s stock worth $270,000 after buying an additional 461 shares during the period. Creative Planning increased its position in Avery Dennison Corporation by 13.6% in the first quarter. Creative Planning now owns 2,829 shares of the industrial products company’s stock worth $228,000 after buying an additional 338 shares during the period. Gulf International Bank UK Ltd increased its position in Avery Dennison Corporation by 1.4% in the first quarter. Gulf International Bank UK Ltd now owns 29,349 shares of the industrial products company’s stock worth $2,365,000 after buying an additional 400 shares during the period. Finally, Nisa Investment Advisors LLC increased its position in Avery Dennison Corporation by 18.7% in the first quarter. Nisa Investment Advisors LLC now owns 33,556 shares of the industrial products company’s stock worth $2,705,000 after buying an additional 5,283 shares during the period. 88.28% of the stock is owned by institutional investors and hedge funds.

Avery Dennison Corporation (AVY) opened at 93.52 on Wednesday. The stock has a 50 day moving average of $92.12 and a 200-day moving average of $84.44. The company has a market cap of $8.27 billion, a P/E ratio of 21.97 and a beta of 1.18. Avery Dennison Corporation has a 12 month low of $68.55 and a 12 month high of $96.70.

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, beating the Thomson Reuters’ consensus estimate of $1.21 by $0.10. The company had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.61 billion. Avery Dennison Corporation had a net margin of 6.14% and a return on equity of 39.29%. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.09 earnings per share. Equities research analysts expect that Avery Dennison Corporation will post $4.83 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Investors 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 annualized dividend and a yield of 1.92%. Avery Dennison Corporation’s payout ratio is currently 42.25%.

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A number of research analysts recently weighed in on AVY shares. KeyCorp reaffirmed a “hold” rating on shares of Avery Dennison Corporation in a research report on Wednesday, April 26th. Barclays PLC reissued an “overweight” rating and issued a $96.00 price objective (up previously from $95.00) on shares of Avery Dennison Corporation in a research report on Monday, May 1st. Zacks Investment Research downgraded shares of Avery Dennison Corporation from a “buy” rating to a “hold” rating in a research report on Friday, May 19th. Aegis reissued a “hold” rating on shares of Avery Dennison Corporation in a research report on Thursday, June 1st. Finally, BidaskClub downgraded shares of Avery Dennison Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 9th. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Avery Dennison Corporation has an average rating of “Buy” and an average target price of $91.67.

In related news, Director Patrick Siewert sold 10,000 shares of the stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $93.63, for a total transaction of $936,300.00. Following the completion of the transaction, the director now owns 10,519 shares in the company, valued at $984,893.97. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Anthony Anderson sold 6,248 shares of the stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $85.15, for a total transaction of $532,017.20. Following the transaction, the director now owns 1,244 shares of the company’s stock, valued at approximately $105,926.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,248 shares of company stock valued at $1,890,817. 1.40% of the stock is owned by company 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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Institutional Ownership by Quarter for Avery Dennison Corporation (NYSE:AVY)

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