Avery Dennison Corp. (AVY) Position Decreased by Commerce Bank
Commerce Bank reduced its position in shares of Avery Dennison Corp. (NYSE:AVY) by 2.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 20,548 shares of the company’s stock after selling 563 shares during the period. Commerce Bank’s holdings in Avery Dennison Corp. were worth $1,599,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently bought and sold shares of AVY. Springbok Capital Management LLC bought a new position in Avery Dennison Corp. during the first quarter worth approximately $136,000. A.R.T. Advisors LLC acquired a new stake in shares of Avery Dennison Corp. during the first quarter worth $907,000. LPL Financial LLC boosted its stake in shares of Avery Dennison Corp. by 13.8% in the first quarter. LPL Financial LLC now owns 19,841 shares of the company’s stock worth $1,430,000 after buying an additional 2,409 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of Avery Dennison Corp. by 35.9% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 11,836 shares of the company’s stock worth $854,000 after buying an additional 3,129 shares in the last quarter. Finally, Boothbay Fund Management LLC acquired a new stake in shares of Avery Dennison Corp. during the first quarter worth $407,000. 87.31% of the stock is currently owned by hedge funds and other institutional investors.
Avery Dennison Corp. (NYSE:AVY) traded up 1.20% during mid-day trading on Monday, hitting $72.57. 843,057 shares of the stock traded hands. The stock has a 50-day moving average of $72.54 and a 200 day moving average of $75.09. The firm has a market cap of $6.46 billion, a price-to-earnings ratio of 21.03 and a beta of 1.07. Avery Dennison Corp. has a 1-year low of $57.06 and a 1-year high of $79.27.
Avery Dennison Corp. (NYSE:AVY) last issued its quarterly earnings results on Wednesday, October 26th. The company reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.01. The business earned $1.51 billion during the quarter, compared to analyst estimates of $1.51 billion. Avery Dennison Corp. had a net margin of 5.27% and a return on equity of 35.98%. The business’s revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.87 earnings per share. On average, equities analysts expect that Avery Dennison Corp. will post $3.97 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 21st. Investors of record on Wednesday, December 7th will be paid a $0.41 dividend. The ex-dividend date is Monday, December 5th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.29%. Avery Dennison Corp.’s dividend payout ratio (DPR) is presently 47.40%.
A number of analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Avery Dennison Corp. from a “hold” rating to a “buy” rating and set a $87.00 price target for the company in a research note on Wednesday, September 21st. JPMorgan Chase & Co. upgraded shares of Avery Dennison Corp. from a “neutral” rating to an “overweight” rating and set a $78.00 price target for the company in a research note on Thursday, October 27th. They noted that the move was a valuation call. Finally, Aegis assumed coverage on shares of Avery Dennison Corp. in a research note on Monday, November 21st. They set a “hold” rating and a $75.00 price target for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $79.00.
In related news, VP Lori J. Bondar purchased 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 1st. The stock was acquired at an average price of $69.72 per share, for a total transaction of $139,440.00. Following the completion of the purchase, the vice president now owns 3,874 shares in the company, valued at $270,095.28. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.70% of the stock is currently owned by corporate insiders.
About Avery Dennison Corp.
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 pressure-sensitive materials are sold to label printers and converters that convert the materials into labels and other products through embossing, printing, stamping and die-cutting.
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