Avery Dennison Corporation (AVY) Shares Sold by Bank of New York Mellon Corp
Bank of New York Mellon Corp decreased its position in Avery Dennison Corporation (NYSE:AVY) by 4.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,665,743 shares of the industrial products company’s stock after selling 84,797 shares during the period. Bank of New York Mellon Corp owned 1.89% of Avery Dennison Corporation worth $163,808,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Acrospire Investment Management LLC bought a new position in Avery Dennison Corporation in the second quarter valued at about $129,000. Captrust Financial Advisors bought a new position in Avery Dennison Corporation in the second quarter valued at about $130,000. Pacad Investment Ltd. bought a new position in Avery Dennison Corporation in the second quarter valued at about $141,000. Conning Inc. bought a new position in Avery Dennison Corporation in the third quarter valued at about $200,000. Finally, Flagship Harbor Advisors LLC bought a new position in Avery Dennison Corporation in the third quarter valued at about $213,000. Institutional investors and hedge funds own 86.80% of the company’s stock.
In other Avery Dennison Corporation news, Director Julia A. Stewart sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $108.42, for a total value of $433,680.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David E. I. Pyott sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $94.00, for a total value of $188,000.00. Following the completion of the transaction, the director now owns 16,601 shares of the company’s stock, valued at $1,560,494. The disclosure for this sale can be found here. In the last three months, insiders sold 144,047 shares of company stock worth $15,258,161. 1.40% of the stock is owned by insiders.
Several equities analysts recently issued reports on AVY shares. Citigroup Inc. raised their price target on Avery Dennison Corporation from $106.00 to $108.00 and gave the company a “buy” rating in a report on Wednesday, July 26th. Robert W. Baird reiterated a “buy” rating and issued a $100.00 price target on shares of Avery Dennison Corporation in a report on Friday, September 1st. KeyCorp reiterated a “hold” rating on shares of Avery Dennison Corporation in a report on Friday, September 22nd. Zacks Investment Research cut Avery Dennison Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th. Finally, Loop Capital began coverage on Avery Dennison Corporation in a report on Thursday, September 28th. They set a “hold” rating and a $99.00 target price on the stock. Four investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $105.71.
Shares of Avery Dennison Corporation (NYSE:AVY) opened at $110.70 on Tuesday. Avery Dennison Corporation has a 1 year low of $69.53 and a 1 year high of $111.31. The stock has a market capitalization of $9,530.00, a P/E ratio of 23.19, a P/E/G ratio of 3.14 and a beta of 1.22. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.13 and a quick ratio of 0.82.
Avery Dennison Corporation (NYSE:AVY) last announced its earnings results on Wednesday, October 25th. The industrial products company reported $1.26 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.21 by $0.05. Avery Dennison Corporation had a return on equity of 40.52% and a net margin of 6.27%. The business had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same quarter last year, the firm earned $1.01 EPS. Avery Dennison Corporation’s revenue for the quarter was up 11.3% compared to the same quarter last year. equities analysts expect that Avery Dennison Corporation will post 4.93 earnings per share for the current year.
The company also recently announced 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 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date is Tuesday, December 5th. Avery Dennison Corporation’s dividend payout ratio is presently 40.18%.
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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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