Oppenheimer Asset Management Inc. increased its stake in shares of Avery Dennison Corporation (NYSE:AVY) by 16,325.3% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 12,319 shares of the industrial products company’s stock after buying an additional 12,244 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Avery Dennison Corporation were worth $1,089,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in AVY. Nationwide Fund Advisors lifted its position in Avery Dennison Corporation by 5.3% during the first quarter. Nationwide Fund Advisors now owns 25,318 shares of the industrial products company’s stock worth $2,041,000 after buying an additional 1,279 shares in the last quarter. Russell Investments Group Ltd. increased its stake in Avery Dennison Corporation by 5.4% during the first quarter. Russell Investments Group Ltd. now owns 51,004 shares of the industrial products company’s stock worth $4,112,000 after acquiring an additional 2,631 shares during the last quarter. Great West Life Assurance Co. Can increased its stake in Avery Dennison Corporation by 21.2% during the first quarter. Great West Life Assurance Co. Can now owns 109,242 shares of the industrial products company’s stock worth $8,803,000 after acquiring an additional 19,078 shares during the last quarter. Pictet Asset Management Ltd. increased its stake in Avery Dennison Corporation by 59.0% during the first quarter. Pictet Asset Management Ltd. now owns 100,469 shares of the industrial products company’s stock worth $8,098,000 after acquiring an additional 37,300 shares during the last quarter. Finally, World Asset Management Inc increased its stake in Avery Dennison Corporation by 19.9% during the first quarter. World Asset Management Inc now owns 10,169 shares of the industrial products company’s stock worth $820,000 after acquiring an additional 1,688 shares during the last quarter. Hedge funds and other institutional investors own 87.76% of the company’s stock.

Several research firms have issued reports on AVY. BidaskClub cut 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 $93.00 target price for the company in a research note on Monday, May 22nd. Robert W. Baird reissued a “buy” rating and set a $100.00 target price on shares of Avery Dennison Corporation in a research note on Friday, September 1st. Aegis reissued a “hold” rating on shares of Avery Dennison Corporation in a research note on Thursday, June 1st. Finally, Bank of America Corporation raised Avery Dennison Corporation from a “neutral” rating to a “buy” rating and raised their target price for the stock from $90.00 to $96.00 in a research note on Tuesday, June 20th. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Avery Dennison Corporation presently has an average rating of “Buy” and a consensus target price of $92.86.

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In related news, Director Patrick Siewert sold 10,000 shares of the stock in a transaction on Thursday, August 3rd. The stock was 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 in the company, valued at approximately $984,893.97. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director David E. I. Pyott sold 298 shares of the stock in a transaction on Monday, August 28th. The shares were sold at an average price of $94.00, for a total value of $28,012.00. Following the completion of the sale, the director now owns 16,601 shares of the company’s stock, valued at $1,560,494. The disclosure for this sale can be found here. Insiders sold a total of 12,298 shares of company stock worth $1,152,312 over the last ninety days. Corporate insiders own 1.40% of the company’s stock.

Shares of Avery Dennison Corporation (NYSE AVY) opened at 93.19 on Monday. Avery Dennison Corporation has a 52 week low of $68.55 and a 52 week high of $96.70. The stock has a 50 day moving average price of $93.27 and a 200-day moving average price of $86.17. The firm has a market capitalization of $8.24 billion, a PE ratio of 21.89 and a beta of 1.18.

Avery Dennison Corporation (NYSE:AVY) last issued its earnings results on Tuesday, July 25th. The industrial products company reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.10. The business had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.61 billion. Avery Dennison Corporation had a return on equity of 39.29% and a net margin of 6.14%. The business’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period last year, the company posted $1.09 EPS. Equities analysts anticipate 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. Investors of record on Wednesday, September 6th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.93%. The ex-dividend date is Friday, September 1st. Avery Dennison Corporation’s dividend payout ratio (DPR) is currently 42.25%.

Avery Dennison Corporation Company 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).

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

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