Stoneridge Investment Partners LLC lowered its position in shares of Avery Dennison Corporation (NYSE:AVY) by 55.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,270 shares of the industrial products company’s stock after selling 5,368 shares during the period. Stoneridge Investment Partners LLC’s holdings in Avery Dennison Corporation were worth $377,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. 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 in the last quarter. Achmea Investment Management B.V. acquired a new position in Avery Dennison Corporation during the first quarter worth about $2,696,000. JPMorgan Chase & Co. increased its position in Avery Dennison Corporation by 43.6% in the first quarter. JPMorgan Chase & Co. now owns 572,631 shares of the industrial products company’s stock worth $46,155,000 after buying an additional 173,901 shares in the last quarter. Russell Investments Group Ltd. increased its position in Avery Dennison Corporation by 5.4% in the first quarter. Russell Investments Group Ltd. now owns 51,004 shares of the industrial products company’s stock worth $4,112,000 after buying an additional 2,631 shares in the last quarter. Finally, Atlantic Trust Group LLC increased its position in Avery Dennison Corporation by 0.7% in the first quarter. Atlantic Trust Group LLC now owns 10,766 shares of the industrial products company’s stock worth $867,000 after buying an additional 78 shares in the last quarter. Institutional investors own 87.60% of the company’s stock.
Avery Dennison Corporation (NYSE AVY) opened at 93.02 on Friday. The firm has a 50-day moving average of $91.80 and a 200-day moving average of $84.00. Avery Dennison Corporation has a 12-month low of $68.55 and a 12-month high of $96.70. The stock has a market cap of $8.22 billion, a PE ratio of 21.85 and a beta of 1.18.
Avery Dennison Corporation (NYSE:AVY) last released its earnings results on Tuesday, July 25th. The industrial products company reported $1.31 EPS for the quarter, topping the Thomson Reuters’ 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 during the quarter, compared to analysts’ expectations of $1.61 billion. During the same quarter last year, the business earned $1.09 EPS. The business’s revenue was up 5.7% on a year-over-year basis. Equities analysts predict that Avery Dennison Corporation will post $4.83 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders of record on Wednesday, September 6th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend 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 (DPR) is presently 42.25%.
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A number of research analysts recently issued reports on AVY shares. KeyCorp restated a “hold” rating on shares of Avery Dennison Corporation in a research report on Wednesday, April 26th. Zacks Investment Research downgraded shares of Avery Dennison Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Aegis reaffirmed a “hold” rating on shares of Avery Dennison Corporation in a report on Thursday, June 1st. Citigroup Inc. lifted their price objective on shares of Avery Dennison Corporation from $106.00 to $108.00 and gave the company a “buy” rating in a report on Wednesday, July 26th. Finally, Bank of America Corporation raised shares of Avery Dennison Corporation from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $90.00 to $96.00 in a report on Tuesday, June 20th. 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 a consensus rating of “Buy” and a consensus target price of $91.67.
In other news, Director Anthony Anderson sold 950 shares of the firm’s stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $84.42, for a total value of $80,199.00. Following the completion of the sale, the director now owns 7,492 shares in the company, valued at approximately $632,474.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Patrick Siewert sold 10,000 shares of the firm’s stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $93.63, for a total transaction of $936,300.00. Following the completion of the sale, the director now owns 10,519 shares of the company’s stock, valued at approximately $984,893.97. The disclosure for this sale can be found here. Insiders sold a total of 22,198 shares of company stock valued at $1,971,016 in the last 90 days. Company 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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