Andra AP fonden Sells 1,600 Shares of Avery Dennison Corporation (AVY)
Andra AP fonden trimmed its stake in shares of Avery Dennison Corporation (NYSE:AVY) by 2.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 53,100 shares of the industrial products company’s stock after selling 1,600 shares during the quarter. Andra AP fonden owned 0.06% of Avery Dennison Corporation worth $5,222,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AVY. Principal Financial Group Inc. boosted its holdings in Avery Dennison Corporation by 110.5% during the second quarter. Principal Financial Group Inc. now owns 1,759,374 shares of the industrial products company’s stock valued at $155,476,000 after purchasing an additional 923,548 shares in the last quarter. Congress Asset Management Co. MA acquired a new stake in Avery Dennison Corporation during the second quarter valued at approximately $71,964,000. Victory Capital Management Inc. boosted its holdings in Avery Dennison Corporation by 21.3% during the second quarter. Victory Capital Management Inc. now owns 1,937,495 shares of the industrial products company’s stock valued at $171,216,000 after purchasing an additional 340,139 shares in the last quarter. Marshall Wace North America L.P. boosted its holdings in Avery Dennison Corporation by 67.9% during the second quarter. Marshall Wace North America L.P. now owns 648,482 shares of the industrial products company’s stock valued at $57,067,000 after purchasing an additional 262,211 shares in the last quarter. Finally, State Street Corp boosted its holdings in Avery Dennison Corporation by 5.0% during the second quarter. State Street Corp now owns 4,776,961 shares of the industrial products company’s stock valued at $422,140,000 after purchasing an additional 229,297 shares in the last quarter. 86.56% of the stock is currently owned by institutional investors.
Avery Dennison Corporation (AVY) opened at $108.09 on Monday. The company has a current ratio of 1.13, a quick ratio of 0.82 and a debt-to-equity ratio of 1.14. The stock has a market capitalization of $9,515.85, a price-to-earnings ratio of 23.15, a P/E/G ratio of 3.13 and a beta of 1.22.
Avery Dennison Corporation (NYSE:AVY) last posted its quarterly earnings data on Wednesday, October 25th. The industrial products company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.05. Avery Dennison Corporation had a net margin of 6.27% and a return on equity of 40.52%. The firm had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.65 billion. During the same quarter in the previous year, the company posted $1.01 EPS. Avery Dennison Corporation’s revenue was up 11.3% on a year-over-year basis. equities analysts forecast that Avery Dennison Corporation will post 4.93 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 20th. Investors of record on Wednesday, December 6th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.67%. The ex-dividend date of this dividend is Tuesday, December 5th. Avery Dennison Corporation’s dividend payout ratio (DPR) is presently 40.18%.
Several research analysts have recently commented on AVY shares. Citigroup Inc. boosted 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. Robert W. Baird reissued a “buy” rating and issued a $100.00 target price on shares of Avery Dennison Corporation in a report on Friday, September 1st. KeyCorp reissued a “hold” rating on shares of Avery Dennison Corporation in a report on Friday, September 22nd. Zacks Investment Research downgraded Avery Dennison Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th. Finally, Loop Capital started coverage on Avery Dennison Corporation in a report on Thursday, September 28th. They issued a “hold” rating and a $99.00 target price on the stock. Five 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. The company currently has a consensus rating of “Buy” and an average price target of $105.29.
In other Avery Dennison Corporation news, Chairman Dean A. Scarborough sold 10,000 shares of the company’s stock in a transaction on Friday, October 27th. The shares were sold at an average price of $104.54, for a total transaction of $1,045,400.00. Following the completion of the sale, the chairman now owns 94,042 shares in the company, valued at approximately $9,831,150.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Susan C. Miller sold 6,518 shares of the company’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $105.17, for a total transaction of $685,498.06. Following the sale, the vice president now owns 13,409 shares of the company’s stock, valued at approximately $1,410,224.53. The disclosure for this sale can be found here. Insiders sold a total of 130,647 shares of company stock valued at $13,813,895 in the last 90 days. 1.40% of the stock is currently owned by corporate insiders.
Avery Dennison Corporation 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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