Pacer Advisors Inc. boosted its stake in Avery Dennison Corporation (NYSE:AVY) by 18.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,813 shares of the industrial products company’s stock after buying an additional 2,359 shares during the period. Pacer Advisors Inc.’s holdings in Avery Dennison Corporation were worth $1,309,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in the company. Wesbanco Bank Inc. boosted its stake in Avery Dennison Corporation by 7.3% in the first quarter. Wesbanco Bank Inc. now owns 3,526 shares of the industrial products company’s stock valued at $284,000 after buying an additional 240 shares during the period. IFP Advisors Inc raised its stake in shares of Avery Dennison Corporation by 27.3% in the first quarter. IFP Advisors Inc now owns 3,512 shares of the industrial products company’s stock valued at $283,000 after buying an additional 754 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of Avery Dennison Corporation by 5.4% in the first quarter. Russell Investments Group Ltd. now owns 51,004 shares of the industrial products company’s stock valued at $4,112,000 after buying an additional 2,631 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in shares of Avery Dennison Corporation by 1.5% in the first quarter. Janney Montgomery Scott LLC now owns 18,587 shares of the industrial products company’s stock valued at $1,498,000 after buying an additional 272 shares in the last quarter. Finally, First Citizens Bank & Trust Co. raised its stake in shares of Avery Dennison Corporation by 4.6% in the first quarter. First Citizens Bank & Trust Co. now owns 3,267 shares of the industrial products company’s stock valued at $263,000 after buying an additional 144 shares in the last quarter. 87.76% of the stock is owned by institutional investors and hedge funds.

Avery Dennison Corporation (NYSE AVY) opened at 93.67 on Monday. The stock’s 50 day moving average is $93.07 and its 200-day moving average is $85.25. Avery Dennison Corporation has a 52 week low of $68.55 and a 52 week high of $96.70. The firm has a market capitalization of $8.28 billion, a price-to-earnings ratio of 22.00 and a beta of 1.18.

Avery Dennison Corporation (NYSE:AVY) last announced its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $1.31 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.21 by $0.10. The firm had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.61 billion. Avery Dennison Corporation had a return on equity of 39.29% and a net margin of 6.14%. The company’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.09 EPS. On average, equities research analysts expect that Avery Dennison Corporation will post $4.83 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Wednesday, September 6th will be issued a dividend of $0.45 per share. The ex-dividend date is Friday, September 1st. This represents a $1.80 annualized dividend and a yield of 1.92%. Avery Dennison Corporation’s dividend payout ratio is currently 42.25%.

TRADEMARK VIOLATION NOTICE: This news story was originally published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this news story on another site, it was illegally stolen and reposted in violation of U.S. and international trademark & copyright legislation. The legal version of this news story can be accessed at https://www.thecerbatgem.com/2017/08/28/avery-dennison-corporation-avy-stake-raised-by-pacer-advisors-inc.html.

Several brokerages recently commented on AVY. BidaskClub lowered shares of Avery Dennison Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 9th. Zacks Investment Research upgraded shares of Avery Dennison Corporation from a “hold” rating to a “buy” rating and set a $94.00 price target on the stock in a research note on Monday, June 5th. Barclays PLC reiterated an “overweight” rating and set a $96.00 price target (up from $95.00) on shares of Avery Dennison Corporation in a research note on Monday, May 1st. Bank of America Corporation upgraded shares of Avery Dennison Corporation from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $90.00 to $96.00 in a research note on Tuesday, June 20th. Finally, Citigroup Inc. lifted their price target on shares of Avery Dennison Corporation from $106.00 to $108.00 and gave the stock a “buy” rating in a research note on Wednesday, July 26th. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $91.67.

In other news, VP Deon Stander sold 5,000 shares of the company’s stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $84.50, for a total value of $422,500.00. Following the completion of the sale, the vice president now directly owns 10,998 shares of the company’s stock, valued at approximately $929,331. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Patrick Siewert sold 10,000 shares of the company’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $93.63, for a total value of $936,300.00. Following the completion of the sale, the director now directly owns 10,519 shares of the company’s stock, valued at $984,893.97. The disclosure for this sale can be found here. Insiders have sold a total of 21,248 shares of company stock valued at $1,890,817 over the last three months. Company insiders own 1.40% of the company’s stock.

About Avery Dennison Corporation

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 segments include Label and Graphic Materials (LGM); Retail Branding and Information Solutions (RBIS), and Industrial and Healthcare Materials (IHM).

Institutional Ownership by Quarter for Avery Dennison Corporation (NYSE:AVY)

Receive News & Stock Ratings for Avery Dennison Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avery Dennison Corporation and related stocks with our FREE daily email newsletter.