Avery Dennison Corp (AVY) Shares Bought by BlackRock Inc.

BlackRock Inc. increased its stake in Avery Dennison Corp (NYSE:AVY) by 0.5% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,460,278 shares of the industrial products company’s stock after acquiring an additional 32,779 shares during the quarter. BlackRock Inc. owned 0.07% of Avery Dennison worth $699,971,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in AVY. JPMorgan Chase & Co. increased its stake in shares of Avery Dennison by 55.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,810,315 shares of the industrial products company’s stock valued at $196,147,000 after acquiring an additional 648,126 shares in the last quarter. Point72 Asset Management L.P. increased its stake in shares of Avery Dennison by 312.9% in the 2nd quarter. Point72 Asset Management L.P. now owns 514,956 shares of the industrial products company’s stock valued at $52,577,000 after acquiring an additional 390,225 shares in the last quarter. State Treasurer State of Michigan increased its stake in Avery Dennison by 1,024.1% during the 2nd quarter. State Treasurer State of Michigan now owns 291,426 shares of the industrial products company’s stock valued at $29,755,000 after purchasing an additional 265,500 shares in the last quarter. Nomura Holdings Inc. increased its stake in Avery Dennison by 1,767.3% during the 2nd quarter. Nomura Holdings Inc. now owns 187,738 shares of the industrial products company’s stock valued at $19,168,000 after purchasing an additional 177,684 shares in the last quarter. Finally, Natixis bought a new stake in Avery Dennison during the 2nd quarter valued at $15,143,000. Institutional investors own 83.98% of the company’s stock.

AVY opened at $96.19 on Tuesday. The company has a current ratio of 1.00, a quick ratio of 0.71 and a debt-to-equity ratio of 1.24. The firm has a market cap of $8.36 billion, a price-to-earnings ratio of 19.24, a PEG ratio of 2.28 and a beta of 1.38. Avery Dennison Corp has a 1 year low of $86.06 and a 1 year high of $123.67.

Avery Dennison (NYSE:AVY) last posted its quarterly earnings data on Tuesday, October 23rd. The industrial products company reported $1.45 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.47 by ($0.02). The firm had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.75 billion. Avery Dennison had a return on equity of 49.86% and a net margin of 4.36%. Avery Dennison’s revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.26 earnings per share. On average, analysts expect that Avery Dennison Corp will post 6.04 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 19th. Shareholders of record on Wednesday, December 5th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date of this dividend is Tuesday, December 4th. Avery Dennison’s dividend payout ratio is 41.60%.

A number of brokerages have commented on AVY. Zacks Investment Research upgraded shares of Avery Dennison from a “sell” rating to a “hold” rating in a research note on Wednesday, November 21st. Loop Capital set a $124.00 price target on shares of Avery Dennison and gave the company a “buy” rating in a research note on Thursday, October 11th. ValuEngine lowered shares of Avery Dennison from a “hold” rating to a “sell” rating in a research note on Friday, October 26th. UBS Group set a $135.00 price target on shares of Avery Dennison and gave the company a “buy” rating in a research note on Tuesday, November 20th. Finally, Barclays cut their price objective on shares of Avery Dennison from $135.00 to $130.00 and set an “overweight” rating on the stock in a report on Monday, October 29th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $120.25.

In related news, Director Anthony Anderson sold 1,275 shares of the business’s stock in a transaction dated Friday, September 7th. The shares were sold at an average price of $104.75, for a total value of $133,556.25. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director David E. I. Pyott sold 2,000 shares of the business’s stock in a transaction dated Tuesday, November 27th. The stock was sold at an average price of $93.00, for a total transaction of $186,000.00. Following the completion of the transaction, the director now directly owns 17,293 shares in the company, valued at $1,608,249. The disclosure for this sale can be found here. 1.30% of the stock is owned by insiders.

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Avery Dennison Company 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. It also offers durable cast and reflective films.

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

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