UBS Group AG grew its position in Avery Dennison Corp (NYSE:AVY) by 87.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 154,369 shares of the industrial products company’s stock after acquiring an additional 72,020 shares during the period. UBS Group AG’s holdings in Avery Dennison were worth $20,194,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Bay Harbor Wealth Management LLC grew its stake in shares of Avery Dennison by 1,809.1% during the 4th quarter. Bay Harbor Wealth Management LLC now owns 210 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 199 shares in the last quarter. Lloyd Advisory Services LLC. acquired a new stake in Avery Dennison in the 4th quarter worth approximately $29,000. TRUE Private Wealth Advisors acquired a new stake in Avery Dennison in the 4th quarter worth approximately $46,000. TCI Wealth Advisors Inc. boosted its stake in Avery Dennison by 64.4% in the 4th quarter. TCI Wealth Advisors Inc. now owns 429 shares of the industrial products company’s stock worth $56,000 after purchasing an additional 168 shares in the last quarter. Finally, Clean Yield Group purchased a new stake in Avery Dennison during the 4th quarter worth approximately $66,000. Institutional investors own 88.92% of the company’s stock.
In other news, CAO Lori J. Bondar acquired 500 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The stock was purchased at an average price of $112.85 per share, with a total value of $56,425.00. Following the completion of the acquisition, the chief accounting officer now owns 14,394 shares of the company’s stock, valued at approximately $1,624,362.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David E. I. Pyott sold 5,027 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $132.72, for a total transaction of $667,183.44. Following the sale, the director now owns 22,297 shares of the company’s stock, valued at $2,959,257.84. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by company insiders.
Avery Dennison (NYSE:AVY) last released its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $1.73 EPS for the quarter, beating the Zacks’ consensus estimate of $1.69 by $0.04. The company had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.79 billion. Avery Dennison had a net margin of 4.29% and a return on equity of 51.98%. Avery Dennison’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.52 EPS. As a group, research analysts predict that Avery Dennison Corp will post 6.92 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, March 18th. Investors of record on Wednesday, March 4th were issued a $0.58 dividend. The ex-dividend date of this dividend was Tuesday, March 3rd. This represents a $2.32 annualized dividend and a dividend yield of 2.37%. Avery Dennison’s dividend payout ratio is presently 35.15%.
AVY has been the subject of a number of research analyst reports. Citigroup decreased their price target on shares of Avery Dennison from $142.00 to $124.00 and set a “neutral” rating for the company in a report on Wednesday, March 11th. BMO Capital Markets decreased their price target on shares of Avery Dennison from $151.00 to $127.00 and set a “market perform” rating on the stock in a research note on Wednesday. Bank of America lifted their price objective on Avery Dennison from $146.00 to $148.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Robert W. Baird boosted their price objective on Avery Dennison from $140.00 to $150.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Finally, Credit Suisse Group increased their target price on Avery Dennison from $117.00 to $129.00 and gave the company a “neutral” rating in a report on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $128.33.
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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