Schwab Charles Investment Management Inc. boosted its position in Avery Dennison Corporation (NYSE:AVY) by 24.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 501,062 shares of the industrial products company’s stock after purchasing an additional 98,593 shares during the period. Schwab Charles Investment Management Inc. owned about 0.56% of Avery Dennison Corporation worth $44,279,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Achmea Investment Management B.V. purchased a new position in Avery Dennison Corporation in the 1st quarter valued at approximately $2,696,000. JPMorgan Chase & Co. increased its stake in Avery Dennison Corporation by 43.6% in the 1st quarter. JPMorgan Chase & Co. now owns 572,631 shares of the industrial products company’s stock valued at $46,155,000 after purchasing an additional 173,901 shares in the last quarter. Russell Investments Group Ltd. increased its stake in Avery Dennison Corporation by 5.4% in the 1st quarter. Russell Investments Group Ltd. now owns 51,004 shares of the industrial products company’s stock valued at $4,112,000 after purchasing an additional 2,631 shares in the last quarter. Principal Financial Group Inc. increased its stake in Avery Dennison Corporation by 39.7% in the 1st quarter. Principal Financial Group Inc. now owns 835,826 shares of the industrial products company’s stock valued at $67,368,000 after purchasing an additional 237,381 shares in the last quarter. Finally, Atlantic Trust Group LLC increased its stake in Avery Dennison Corporation by 0.7% in the 1st quarter. Atlantic Trust Group LLC now owns 10,766 shares of the industrial products company’s stock valued at $867,000 after purchasing an additional 78 shares in the last quarter. 87.76% of the stock is owned by hedge funds and other institutional investors.

Avery Dennison Corporation (AVY) opened at 93.19 on Friday. Avery Dennison Corporation has a 52-week low of $68.55 and a 52-week high of $96.70. The stock has a market cap of $8.24 billion, a P/E ratio of 21.89 and a beta of 1.18. The firm’s 50-day moving average price is $93.27 and its 200 day moving average price is $86.17.

Avery Dennison Corporation (NYSE:AVY) last announced its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $1.31 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter in the prior year, the firm earned $1.09 EPS. The company’s quarterly revenue was up 5.7% compared to the same quarter last year. Equities analysts predict that Avery Dennison Corporation will post $4.82 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Wednesday, September 6th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.93%. The ex-dividend date of this dividend is Friday, September 1st. Avery Dennison Corporation’s dividend payout ratio (DPR) is currently 42.25%.

In other Avery Dennison Corporation news, Director David E. I. Pyott sold 298 shares of the business’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $94.00, for a total transaction of $28,012.00. Following the sale, the director now directly owns 16,601 shares of the company’s stock, valued at approximately $1,560,494. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Patrick Siewert sold 10,000 shares of the business’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $93.63, for a total transaction of $936,300.00. Following the sale, the director now directly owns 10,519 shares in the company, valued at $984,893.97. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,298 shares of company stock worth $1,152,312. Company insiders own 1.40% of the company’s stock.

Several equities analysts recently weighed in on AVY shares. BidaskClub downgraded Avery Dennison Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 9th. Zacks Investment Research raised Avery Dennison Corporation from a “hold” rating to a “buy” rating and set a $94.00 price objective for the company in a research note on Monday, June 5th. Robert W. Baird reaffirmed a “buy” rating and issued a $100.00 price objective on shares of Avery Dennison Corporation in a research note on Friday, September 1st. Citigroup Inc. raised their price objective on Avery Dennison Corporation from $106.00 to $108.00 and gave the company a “buy” rating in a research note on Wednesday, July 26th. Finally, Bank of America Corporation raised Avery Dennison Corporation from a “neutral” rating to a “buy” rating and raised their price objective for the company from $90.00 to $96.00 in a research note on Tuesday, June 20th. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $92.86.

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Avery Dennison Corporation Profile

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)

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