Xact Kapitalforvaltning AB raised its stake in Avery Dennison Corporation (NYSE:AVY) by 2.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,170 shares of the industrial products company’s stock after buying an additional 359 shares during the period. Xact Kapitalforvaltning AB’s holdings in Avery Dennison Corporation were worth $1,341,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Macquarie Group Ltd. increased 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. Achmea Investment Management B.V. purchased a new position in shares of Avery Dennison Corporation during the first quarter worth approximately $2,696,000. JPMorgan Chase & Co. increased its position in shares of 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 shares of 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 shares of 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. Hedge funds and other institutional investors own 87.60% of the company’s stock.
Avery Dennison Corporation (NYSE:AVY) traded up 1.19% on Friday, reaching $93.02. The company had a trading volume of 502,965 shares. The company has a market capitalization of $8.22 billion, a PE ratio of 21.85 and a beta of 1.18. Avery Dennison Corporation has a 52-week low of $68.55 and a 52-week high of $96.70. The company’s 50-day moving average is $91.65 and its 200-day moving average is $83.86.
Avery Dennison Corporation (NYSE:AVY) last posted its earnings results on Tuesday, July 25th. The industrial products company reported $1.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.21 by $0.10. Avery Dennison Corporation had a return on equity of 39.29% and a net margin of 6.14%. The company had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same period last year, the company earned $1.09 earnings per share. The business’s revenue was up 5.7% compared to the same quarter last year. Equities analysts anticipate that Avery Dennison Corporation will post $4.83 EPS for the current fiscal year.
The firm 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 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 is currently 42.25%.
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A number of equities research analysts have recently weighed in on AVY shares. Zacks Investment Research upgraded Avery Dennison Corporation from a “hold” rating to a “buy” rating and set a $93.00 target price on the stock in a research report on Monday, May 22nd. Bank of America Corporation upgraded Avery Dennison Corporation from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $90.00 to $96.00 in a research report on Tuesday, June 20th. Citigroup Inc. upped their price objective on Avery Dennison Corporation from $106.00 to $108.00 and gave the stock a “buy” rating in a research report on Wednesday, July 26th. BidaskClub lowered Avery Dennison Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 9th. Finally, Aegis restated a “hold” rating on shares of Avery Dennison Corporation in a research report on Thursday, June 1st. Three 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 company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $91.67.
In other Avery Dennison Corporation news, Director Anthony Anderson sold 950 shares of the firm’s stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $84.42, for a total transaction of $80,199.00. Following the completion of the transaction, the director now owns 7,492 shares in the company, valued at $632,474.64. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Deon Stander sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $84.50, for a total transaction of $422,500.00. Following the transaction, the vice president now owns 10,998 shares of the company’s stock, valued at approximately $929,331. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,198 shares of company stock worth $1,971,016. 1.40% of the stock is currently owned by company insiders.
About Avery Dennison Corporation
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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