Chicago Equity Partners LLC decreased its stake in Avery Dennison Corporation (NYSE:AVY) by 1.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 196,255 shares of the industrial products company’s stock after selling 3,840 shares during the period. Chicago Equity Partners LLC owned about 0.22% of Avery Dennison Corporation worth $17,343,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in AVY. American Beacon Advisors Inc. bought a new stake in Avery Dennison Corporation during the first quarter valued at $105,000. Van ECK Associates Corp increased its stake in Avery Dennison Corporation by 7.7% in the first quarter. Van ECK Associates Corp now owns 1,322 shares of the industrial products company’s stock valued at $107,000 after buying an additional 94 shares in the last quarter. Bronfman E.L. Rothschild L.P. increased its stake in Avery Dennison Corporation by 21.1% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 1,737 shares of the industrial products company’s stock valued at $140,000 after buying an additional 303 shares in the last quarter. Ameritas Investment Partners Inc. bought a new stake in Avery Dennison Corporation during the first quarter valued at $171,000. Finally, Mn Services Vermogensbeheer B.V. increased its stake in Avery Dennison Corporation by 4.7% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 2,373 shares of the industrial products company’s stock valued at $179,000 after buying an additional 107 shares in the last quarter. 87.76% of the stock is currently owned by institutional investors.

Avery Dennison Corporation (NYSE:AVY) traded up 0.15% during mid-day trading on Thursday, hitting $94.17. 38,066 shares of the stock traded hands. Avery Dennison Corporation has a 12-month low of $68.55 and a 12-month high of $96.70. The company has a 50 day moving average of $93.07 and a 200-day moving average of $85.25. The stock has a market cap of $8.32 billion, a PE ratio of 22.12 and a beta of 1.18.

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

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 20th. Investors of record on Wednesday, September 6th will be paid 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 1.91%. Avery Dennison Corporation’s dividend payout ratio is currently 42.25%.

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Several analysts have weighed in on AVY shares. Citigroup Inc. boosted their target price on shares of Avery Dennison Corporation from $106.00 to $108.00 and gave the stock a “buy” rating in a research report on Wednesday, July 26th. Zacks Investment Research raised shares of Avery Dennison Corporation from a “hold” rating to a “buy” rating and set a $93.00 target price on the stock in a research report on Monday, May 22nd. Bank of America Corporation raised shares of Avery Dennison Corporation from a “neutral” rating to a “buy” rating and upped their price objective for the company from $90.00 to $96.00 in a report on Tuesday, June 20th. BidaskClub downgraded shares of Avery Dennison Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 9th. Finally, Aegis reaffirmed a “hold” rating on shares of Avery Dennison Corporation in a report on Thursday, June 1st. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Avery Dennison Corporation presently has a consensus rating of “Buy” and a consensus target price of $91.67.

In related news, Director Anthony Anderson sold 6,248 shares of the firm’s stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $85.15, for a total transaction of $532,017.20. Following the completion of the transaction, the director now owns 1,244 shares of the company’s stock, valued at $105,926.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director David E. I. Pyott sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $94.00, for a total value of $188,000.00. Following the transaction, the director now directly owns 16,601 shares of the company’s stock, valued at approximately $1,560,494. The disclosure for this sale can be found here. Insiders have sold 18,546 shares of company stock valued at $1,684,329 in the last ninety days. 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).

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

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