TD Asset Management Inc. raised its stake in Avery Dennison Corporation (NYSE:AVY) by 11.2% during the second quarter, Holdings Channel reports. The fund owned 272,553 shares of the industrial products company’s stock after buying an additional 27,528 shares during the period. TD Asset Management Inc.’s holdings in Avery Dennison Corporation were worth $24,086,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in AVY. Macquarie Group Ltd. raised its stake 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 during the last quarter. Chevy Chase Trust Holdings Inc. raised its stake in Avery Dennison Corporation by 74.2% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 130,392 shares of the industrial products company’s stock valued at $10,510,000 after buying an additional 55,542 shares during the last quarter. Raymond James Trust N.A. raised its stake 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 valued at $270,000 after buying an additional 461 shares during the last quarter. Creative Planning raised its stake 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 valued at $228,000 after buying an additional 338 shares during the last quarter. Finally, Gulf International Bank UK Ltd raised its stake 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 valued at $2,365,000 after buying an additional 400 shares during the last quarter. 87.60% of the stock is owned by institutional investors.

Shares of Avery Dennison Corporation (NYSE:AVY) opened at 93.02 on Friday. The firm has a market capitalization of $8.22 billion, a price-to-earnings ratio of 21.85 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. The company’s 50-day moving average is $91.80 and its 200-day moving average is $84.00.

Avery Dennison Corporation (NYSE:AVY) last released its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $1.31 EPS for the quarter, beating the Zacks’ consensus estimate of $1.21 by $0.10. Avery Dennison Corporation had a net margin of 6.14% and a return on equity of 39.29%. The company had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same quarter last year, the firm posted $1.09 earnings per share. The company’s quarterly revenue was up 5.7% compared to the same quarter last year. On average, equities analysts forecast that Avery Dennison Corporation will post $4.83 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders of record on Wednesday, September 6th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend is Friday, September 1st. Avery Dennison Corporation’s dividend payout ratio is 42.25%.

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Several equities research analysts have recently issued reports on AVY shares. KeyCorp reissued 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 lowered 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 lowered 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 assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $91.67.

In other news, Director Anthony Anderson sold 6,248 shares of Avery Dennison Corporation stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $85.15, for a total value of $532,017.20. Following the transaction, the director now owns 1,244 shares of the company’s stock, valued at $105,926.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Patrick Siewert sold 10,000 shares of Avery Dennison Corporation 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 completion of the transaction, the director now directly owns 10,519 shares in the company, valued at approximately $984,893.97. The disclosure for this sale can be found here. In the last three months, insiders sold 22,198 shares of company stock worth $1,971,016. Insiders own 1.40% of the company’s stock.

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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Institutional Ownership by Quarter for Avery Dennison Corporation (NYSE:AVY)

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