Raymond James & Associates grew its position in Avery Dennison Corp (NYSE:AVY) by 14.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 151,172 shares of the industrial products company’s stock after purchasing an additional 19,218 shares during the quarter. Raymond James & Associates owned approximately 0.18% of Avery Dennison worth $17,082,000 as of its most recent filing with the SEC.
Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc raised its holdings in Avery Dennison by 0.5% during the third quarter. Vanguard Group Inc now owns 9,807,709 shares of the industrial products company’s stock worth $1,062,666,000 after buying an additional 44,059 shares during the last quarter. JPMorgan Chase & Co. grew 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 worth $196,147,000 after acquiring an additional 648,126 shares in the last quarter. Boston Partners grew its stake in shares of Avery Dennison by 25.7% in the 1st quarter. Boston Partners now owns 1,635,444 shares of the industrial products company’s stock worth $184,805,000 after acquiring an additional 333,924 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of Avery Dennison by 81,204.8% in the 1st quarter. Victory Capital Management Inc. now owns 1,048,832 shares of the industrial products company’s stock worth $118,518,000 after acquiring an additional 1,047,542 shares in the last quarter. Finally, Westfield Capital Management Co. LP grew its stake in shares of Avery Dennison by 10.7% in the 4th quarter. Westfield Capital Management Co. LP now owns 1,022,285 shares of the industrial products company’s stock worth $91,832,000 after acquiring an additional 98,783 shares in the last quarter. 88.20% of the stock is currently owned by institutional investors.
In other Avery Dennison news, Director Ken C. Hicks sold 9,691 shares of the business’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $110.10, for a total value of $1,066,979.10. Following the completion of the transaction, the director now owns 28,396 shares of the company’s stock, valued at approximately $3,126,399.60. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Lori J. Bondar sold 2,725 shares of the business’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $113.27, for a total value of $308,660.75. Following the completion of the transaction, the vice president now directly owns 18,041 shares of the company’s stock, valued at approximately $2,043,504.07. The disclosure for this sale can be found here. 1.30% of the stock is owned by insiders.
Avery Dennison (NYSE:AVY) last announced its quarterly earnings data on Wednesday, April 24th. The industrial products company reported $1.48 EPS for the quarter, beating the consensus estimate of $1.46 by $0.02. The business had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.77 billion. Avery Dennison had a return on equity of 53.28% and a net margin of 2.74%. The company’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.44 earnings per share. On average, equities analysts anticipate that Avery Dennison Corp will post 6.55 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 19th. Stockholders of record on Wednesday, June 5th will be given a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 2.10%. The ex-dividend date is Tuesday, June 4th. This is a positive change from Avery Dennison’s previous quarterly dividend of $0.52. Avery Dennison’s payout ratio is currently 38.28%.
Several research firms recently weighed in on AVY. Zacks Investment Research lowered shares of Avery Dennison from a “buy” rating to a “hold” rating in a research report on Monday, April 8th. KeyCorp reiterated a “hold” rating on shares of Avery Dennison in a research report on Wednesday, April 24th. JPMorgan Chase & Co. lowered shares of Avery Dennison from a “neutral” rating to an “underweight” rating and set a $105.00 target price for the company. in a research report on Thursday, April 18th. Finally, Loop Capital lowered shares of Avery Dennison from a “buy” rating to a “hold” rating in a research report on Wednesday, March 20th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. Avery Dennison currently has a consensus rating of “Hold” and a consensus target price of $118.00.
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, as well as durable cast and reflective films.
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