Terra Alpha Investments LLC Cuts Stake in Avery Dennison Corporation $AVY

Terra Alpha Investments LLC reduced its holdings in shares of Avery Dennison Corporation (NYSE:AVY) by 0.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,037 shares of the industrial products company’s stock after selling 134 shares during the period. Avery Dennison comprises 3.1% of Terra Alpha Investments LLC’s investment portfolio, making the stock its 15th largest holding. Terra Alpha Investments LLC’s holdings in Avery Dennison were worth $2,989,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of AVY. GAMMA Investing LLC increased its position in shares of Avery Dennison by 9.4% in the 1st quarter. GAMMA Investing LLC now owns 2,409 shares of the industrial products company’s stock valued at $429,000 after purchasing an additional 207 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Avery Dennison by 1.8% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 12,185 shares of the industrial products company’s stock valued at $2,169,000 after purchasing an additional 217 shares during the last quarter. Janney Montgomery Scott LLC purchased a new stake in shares of Avery Dennison in the 1st quarter valued at approximately $3,199,000. Manning & Napier Advisors LLC increased its position in shares of Avery Dennison by 89.6% in the 1st quarter. Manning & Napier Advisors LLC now owns 11,272 shares of the industrial products company’s stock valued at $2,006,000 after purchasing an additional 5,326 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. increased its position in shares of Avery Dennison by 11.3% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 2,953 shares of the industrial products company’s stock valued at $526,000 after purchasing an additional 300 shares during the last quarter. 94.17% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on AVY shares. Citigroup dropped their price objective on shares of Avery Dennison from $191.00 to $177.00 and set a “neutral” rating on the stock in a research report on Monday, September 29th. Bank of America upped their target price on shares of Avery Dennison from $195.00 to $208.00 and gave the company a “buy” rating in a report on Wednesday, July 9th. UBS Group lowered their target price on shares of Avery Dennison from $188.00 to $181.00 and set a “neutral” rating for the company in a report on Monday, October 6th. Weiss Ratings restated a “hold (c-)” rating on shares of Avery Dennison in a report on Tuesday, October 14th. Finally, JPMorgan Chase & Co. upped their target price on shares of Avery Dennison from $172.00 to $182.00 and gave the company a “neutral” rating in a report on Wednesday, July 23rd. Six analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, Avery Dennison presently has an average rating of “Moderate Buy” and a consensus price target of $195.30.

Avery Dennison Trading Up 2.1%

Shares of Avery Dennison stock opened at $163.67 on Wednesday. The stock has a market cap of $12.76 billion, a price-to-earnings ratio of 18.37, a PEG ratio of 2.37 and a beta of 0.95. The company has a fifty day simple moving average of $166.42 and a 200-day simple moving average of $172.27. The company has a current ratio of 1.04, a quick ratio of 0.70 and a debt-to-equity ratio of 1.19. Avery Dennison Corporation has a 12-month low of $156.23 and a 12-month high of $220.02.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings results on Tuesday, July 22nd. The industrial products company reported $2.42 earnings per share for the quarter, topping analysts’ consensus estimates of $2.38 by $0.04. The firm had revenue of $2.22 billion during the quarter, compared to analysts’ expectations of $2.23 billion. Avery Dennison had a net margin of 8.14% and a return on equity of 33.14%. Avery Dennison’s quarterly revenue was down .7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.42 EPS. On average, equities analysts forecast that Avery Dennison Corporation will post 9.96 EPS for the current fiscal year.

Avery Dennison Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 17th. Investors of record on Wednesday, September 3rd were paid a dividend of $0.94 per share. The ex-dividend date was Wednesday, September 3rd. This represents a $3.76 dividend on an annualized basis and a yield of 2.3%. Avery Dennison’s dividend payout ratio is currently 42.20%.

Avery Dennison Company Profile

Avery Dennison Corporation operates as a materials science and digital identification solutions company in the United States, Europe, the Middle East, North Africa, Asia, Latin, America, and internationally. It provides pressure-sensitive materials comprising papers, plastic films, metal foils, and fabrics; performance tapes products, including tapes for wire harnessing, as well as cable wrapping for automotive, electrical, and general industrial applications; mechanical fasteners, which are precision-extruded and injection-molded plastic devices used in various automotive, general industrial, and retail applications; and other pressure-sensitive adhesive-based materials and converted products under the Fasson, JAC, Yongle, and Avery Dennison brands.