Robeco Institutional Asset Management B.V. Raises Stake in Avery Dennison Corp. (AVY)
Robeco Institutional Asset Management B.V. increased its stake in Avery Dennison Corp. (NYSE:AVY) by 17.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 296,234 shares of the company’s stock after buying an additional 44,806 shares during the period. Robeco Institutional Asset Management B.V. owned approximately 0.33% of Avery Dennison Corp. worth $23,043,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of AVY. Boys Arnold & Co. Inc. bought a new position in shares of Avery Dennison Corp. during the second quarter valued at approximately $336,000. Capstone Asset Management Co. raised its position in shares of Avery Dennison Corp. by 14.2% in the second quarter. Capstone Asset Management Co. now owns 16,231 shares of the company’s stock valued at $1,213,000 after buying an additional 2,018 shares during the period. NN Investment Partners Holdings N.V. raised its position in shares of Avery Dennison Corp. by 3.3% in the second quarter. NN Investment Partners Holdings N.V. now owns 24,594 shares of the company’s stock valued at $1,838,000 after buying an additional 783 shares during the period. Creative Planning raised its position in shares of Avery Dennison Corp. by 62.0% in the second quarter. Creative Planning now owns 2,578 shares of the company’s stock valued at $193,000 after buying an additional 987 shares during the period. Finally, Atria Investments LLC bought a new position in shares of Avery Dennison Corp. during the second quarter valued at approximately $245,000. Institutional investors and hedge funds own 87.31% of the company’s stock.
Avery Dennison Corp. (NYSE:AVY) traded up 0.03% during mid-day trading on Tuesday, reaching $72.59. 239,749 shares of the company’s stock were exchanged. The company’s 50-day moving average is $72.54 and its 200 day moving average is $75.09. Avery Dennison Corp. has a one year low of $57.06 and a one year high of $79.27. The firm has a market capitalization of $6.46 billion, a P/E ratio of 21.04 and a beta of 1.07.
Avery Dennison Corp. (NYSE:AVY) last issued its earnings results on Wednesday, October 26th. The company reported $1.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.00 by $0.01. The firm 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% on a year-over-year basis. During the same period in the previous year, the firm earned $0.87 earnings per share. Equities analysts predict that Avery Dennison Corp. will post $3.97 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 21st. Stockholders of record on Wednesday, December 7th will be paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date is Monday, December 5th. Avery Dennison Corp.’s dividend payout ratio is currently 47.40%.
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Several research analysts recently issued reports on AVY shares. Zacks Investment Research lowered shares of Avery Dennison Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, September 20th. 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 started coverage on shares of Avery Dennison Corp. in a research note on Monday, November 21st. They issued a “hold” rating and a $75.00 price target for the company. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $79.00.
In other news, VP Susan C. Miller sold 2,000 shares of the business’s stock in a transaction on Thursday, September 1st. The shares were sold at an average price of $77.56, for a total transaction of $155,120.00. Following the completion of the sale, the vice president now directly owns 8,518 shares of the company’s stock, valued at $660,656.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.70% of the company’s stock.
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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