Xact Kapitalforvaltning AB Grows Holdings in Avery Dennison Corp (NYSE:AVY)

Xact Kapitalforvaltning AB lifted its holdings in Avery Dennison Corp (NYSE:AVY) by 9.8% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 17,022 shares of the industrial products company’s stock after purchasing an additional 1,526 shares during the period. Xact Kapitalforvaltning AB’s holdings in Avery Dennison were worth $1,923,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in AVY. Wealthcare Advisory Partners LLC grew its position in Avery Dennison by 90.7% during the fourth quarter. Wealthcare Advisory Partners LLC now owns 286 shares of the industrial products company’s stock valued at $26,000 after buying an additional 136 shares during the period. CSat Investment Advisory L.P. grew its position in Avery Dennison by 60.8% during the fourth quarter. CSat Investment Advisory L.P. now owns 341 shares of the industrial products company’s stock valued at $31,000 after buying an additional 129 shares during the period. Icon Wealth Partners LLC acquired a new stake in Avery Dennison during the first quarter valued at $36,000. Penserra Capital Management LLC acquired a new stake in Avery Dennison during the fourth quarter valued at $40,000. Finally, Bremer Trust National Association acquired a new stake in Avery Dennison during the fourth quarter valued at $42,000. 88.12% of the stock is owned by hedge funds and other institutional investors.

In related news, Director Ken C. Hicks sold 9,691 shares of Avery Dennison stock in a transaction that occurred on Friday, April 26th. The shares were 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 in the company, valued at $3,126,399.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Lori J. Bondar sold 5,000 shares of Avery Dennison stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $111.50, for a total transaction of $557,500.00. Following the completion of the transaction, the vice president now owns 22,428 shares of the company’s stock, valued at approximately $2,500,722. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 17,416 shares of company stock valued at $1,933,140. Company insiders own 1.30% of the company’s stock.

Shares of NYSE:AVY traded up $2.88 during midday trading on Monday, hitting $118.56. The company’s stock had a trading volume of 752,894 shares, compared to its average volume of 633,465. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.80 and a current ratio of 1.14. The business’s 50 day moving average is $107.69. Avery Dennison Corp has a 12-month low of $82.89 and a 12-month high of $118.58. The stock has a market cap of $9.77 billion, a P/E ratio of 19.56, a P/E/G ratio of 2.14 and a beta of 1.35.

Avery Dennison (NYSE:AVY) last issued its earnings results on Wednesday, April 24th. The industrial products company reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.02. Avery Dennison had a net margin of 2.74% and a return on equity of 53.28%. The company had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same period in the previous year, the firm earned $1.44 earnings per share. Avery Dennison’s quarterly revenue was down 2.0% compared to the same quarter last year. Sell-side analysts forecast that Avery Dennison Corp will post 6.55 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 19th. Shareholders of record on Wednesday, June 5th were given a dividend of $0.58 per share. The ex-dividend date of this dividend was Tuesday, June 4th. This is a boost from Avery Dennison’s previous quarterly dividend of $0.52. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.96%. Avery Dennison’s dividend payout ratio (DPR) is currently 38.28%.

Several research firms have issued reports on AVY. JPMorgan Chase & Co. downgraded shares of Avery Dennison from an “overweight” rating to a “neutral” rating and set a $105.00 price objective on the stock. in a report on Friday, March 15th. They noted that the move was a valuation call. Loop Capital downgraded shares of Avery Dennison from a “buy” rating to a “hold” rating in a report on Wednesday, March 20th. They noted that the move was a valuation call. KeyCorp reaffirmed a “sector weight” rating and set a $110.00 price objective on shares of Avery Dennison in a report on Sunday, April 7th. Finally, Zacks Investment Research downgraded shares of Avery Dennison from a “buy” rating to a “hold” rating in a research note on Monday, April 8th. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $118.00.

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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