Asset Management One Co. Ltd. Raises Stock Holdings in Avery Dennison Corp (NYSE:AVY)

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Asset Management One Co. Ltd. increased its stake in Avery Dennison Corp (NYSE:AVY) by 6.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,487 shares of the industrial products company’s stock after acquiring an additional 4,602 shares during the period. Asset Management One Co. Ltd. owned approximately 0.09% of Avery Dennison worth $8,503,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of AVY. Squar Milner Financial Services LLC grew its position in Avery Dennison by 5.8% in the 2nd quarter. Squar Milner Financial Services LLC now owns 1,739 shares of the industrial products company’s stock worth $201,000 after purchasing an additional 95 shares during the last quarter. Riverhead Capital Management LLC raised its position in Avery Dennison by 4.3% during the second quarter. Riverhead Capital Management LLC now owns 2,400 shares of the industrial products company’s stock worth $278,000 after acquiring an additional 100 shares in the last quarter. Hartford Investment Management Co. raised its position in Avery Dennison by 1.1% during the second quarter. Hartford Investment Management Co. now owns 10,239 shares of the industrial products company’s stock worth $1,184,000 after acquiring an additional 108 shares in the last quarter. Elkfork Partners LLC raised its position in Avery Dennison by 2.4% during the second quarter. Elkfork Partners LLC now owns 4,664 shares of the industrial products company’s stock worth $540,000 after acquiring an additional 110 shares in the last quarter. Finally, ETF Managers Group LLC raised its position in Avery Dennison by 8.9% during the first quarter. ETF Managers Group LLC now owns 1,360 shares of the industrial products company’s stock worth $154,000 after acquiring an additional 111 shares in the last quarter. Institutional investors and hedge funds own 88.34% of the company’s stock.

A number of research firms have recently commented on AVY. Bank of America raised shares of Avery Dennison from a “neutral” rating to a “buy” rating and set a $130.00 target price for the company in a report on Friday, September 13th. KeyCorp reiterated a “hold” rating on shares of Avery Dennison in a report on Friday, September 13th. JPMorgan Chase & Co. raised their price objective on shares of Avery Dennison from $105.00 to $111.00 and gave the company an “underweight” rating in a report on Wednesday, July 24th. ValuEngine downgraded shares of Avery Dennison from a “hold” rating to a “sell” rating in a research report on Wednesday, September 11th. Finally, Berenberg Bank started coverage on shares of Avery Dennison in a research report on Thursday, August 15th. They set a “buy” rating and a $130.00 target price for the company. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company’s stock. Avery Dennison presently has an average rating of “Hold” and an average price target of $123.25.

In other Avery Dennison news, Chairman Mitchell R. Butier sold 50,000 shares of the firm’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $116.21, for a total transaction of $5,810,500.00. Following the transaction, the chairman now directly owns 158,316 shares in the company, valued at approximately $18,397,902.36. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Georges Gravanis sold 2,500 shares of Avery Dennison stock in a transaction on Friday, July 26th. The stock was sold at an average price of $116.88, for a total value of $292,200.00. Following the sale, the insider now owns 13,637 shares in the company, valued at $1,593,892.56. The disclosure for this sale can be found here. In the last three months, insiders sold 76,490 shares of company stock valued at $8,886,301. 1.30% of the stock is currently owned by insiders.

Shares of AVY stock traded up $2.07 during trading hours on Friday, hitting $113.37. 334,166 shares of the company were exchanged, compared to its average volume of 467,161. The firm has a market cap of $9.30 billion, a P/E ratio of 18.71, a P/E/G ratio of 2.05 and a beta of 1.30. Avery Dennison Corp has a fifty-two week low of $82.89 and a fifty-two week high of $120.65. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.75 and a current ratio of 1.04. The company has a 50 day simple moving average of $113.09 and a two-hundred day simple moving average of $111.81.

Avery Dennison (NYSE:AVY) last posted its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.04. Avery Dennison had a net margin of 3.44% and a return on equity of 52.67%. The business had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.83 billion. During the same quarter last year, the firm posted $1.66 EPS. Avery Dennison’s revenue was down 3.2% compared to the same quarter last year. As a group, sell-side analysts expect that Avery Dennison Corp will post 6.54 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th were given a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 2.05%. The ex-dividend date of this dividend was Tuesday, September 3rd. Avery Dennison’s payout ratio is currently 38.28%.

Avery Dennison Profile

Avery Dennison Corporation produces and sells pressure-sensitive materials worldwide. The company's Label and Graphic Materials segment offers pressure-sensitive label and packaging materials; and graphics and reflective products under the Fasson, JAC, Avery Dennison, and Mactac brands, as well as durable cast and reflective films.

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

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