Avery Dennison Corporation (AVY) Position Lifted by Eads & Heald Investment Counsel

Eads & Heald Investment Counsel lifted its position in shares of Avery Dennison Corporation (NYSE:AVY) by 59.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,703 shares of the industrial products company’s stock after purchasing an additional 2,503 shares during the period. Eads & Heald Investment Counsel’s holdings in Avery Dennison Corporation were worth $659,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AVY. Principal Financial Group Inc. lifted its position in shares of Avery Dennison Corporation by 110.5% during the second quarter. Principal Financial Group Inc. now owns 1,759,374 shares of the industrial products company’s stock valued at $155,476,000 after purchasing an additional 923,548 shares in the last quarter. Congress Asset Management Co. MA bought a new position in shares of Avery Dennison Corporation during the second quarter valued at about $71,964,000. Victory Capital Management Inc. lifted its position in shares of Avery Dennison Corporation by 21.3% during the second quarter. Victory Capital Management Inc. now owns 1,937,495 shares of the industrial products company’s stock valued at $171,216,000 after purchasing an additional 340,139 shares in the last quarter. Marshall Wace North America L.P. lifted its position in shares of Avery Dennison Corporation by 67.9% during the second quarter. Marshall Wace North America L.P. now owns 648,482 shares of the industrial products company’s stock valued at $57,067,000 after purchasing an additional 262,211 shares in the last quarter. Finally, State Street Corp lifted its position in shares of Avery Dennison Corporation by 5.0% during the second quarter. State Street Corp now owns 4,776,961 shares of the industrial products company’s stock valued at $422,140,000 after purchasing an additional 229,297 shares in the last quarter. 86.76% of the stock is currently owned by institutional investors.

Shares of Avery Dennison Corporation (NYSE:AVY) traded up 0.35% during mid-day trading on Tuesday, reaching $105.69. 142,550 shares of the company’s stock traded hands. Avery Dennison Corporation has a 12-month low of $68.68 and a 12-month high of $106.24. The firm’s 50 day moving average price is $99.75 and its 200-day moving average price is $91.35. The stock has a market cap of $9.34 billion, a price-to-earnings ratio of 24.83 and a beta of 1.19.

Avery Dennison Corporation (NYSE:AVY) last posted its earnings results on Wednesday, October 25th. The industrial products company reported $1.26 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.21 by $0.05. The business had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.65 billion. Avery Dennison Corporation had a net margin of 6.27% and a return on equity of 40.49%. The business’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.01 EPS. Equities research analysts forecast that Avery Dennison Corporation will post $4.88 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 20th. Shareholders of record on Wednesday, December 6th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.71%. The ex-dividend date is Tuesday, December 5th. Avery Dennison Corporation’s dividend payout ratio is currently 40.18%.

A number of research analysts recently weighed in on the stock. Barclays PLC raised their price target on shares of Avery Dennison Corporation from $105.00 to $120.00 and gave the company an “overweight” rating in a research report on Monday. KeyCorp reissued a “hold” rating on shares of Avery Dennison Corporation in a research report on Monday. J P Morgan Chase & Co lowered shares of Avery Dennison Corporation from an “overweight” rating to a “neutral” rating in a research report on Thursday, October 26th. Robert W. Baird reissued a “buy” rating and set a $115.00 price target on shares of Avery Dennison Corporation in a research report on Friday. Finally, Zacks Investment Research raised shares of Avery Dennison Corporation from a “sell” rating to a “buy” rating and set a $117.00 price target on the stock in a research report on Friday. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $105.29.

In other news, Director Patrick Siewert sold 10,000 shares of the stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $93.63, for a total value of $936,300.00. Following the transaction, the director now owns 10,519 shares in the company, valued at approximately $984,893.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Dean A. Scarborough sold 20,000 shares of the stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $105.00, for a total transaction of $2,100,000.00. Following the completion of the transaction, the insider now owns 94,042 shares in the company, valued at approximately $9,874,410. The disclosure for this sale can be found here. Insiders have sold a total of 42,298 shares of company stock worth $4,297,712 in the last 90 days. Company insiders own 1.40% of the company’s stock.

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Avery Dennison Corporation 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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