Bridgewater Associates LP purchased a new stake in Avery Dennison Corporation (NYSE:AVY) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 2,866 shares of the industrial products company’s stock, valued at approximately $253,000.

A number of other institutional investors have also recently bought and sold shares of AVY. Nationwide Fund Advisors raised its holdings in Avery Dennison Corporation by 5.3% in the 1st quarter. Nationwide Fund Advisors now owns 25,318 shares of the industrial products company’s stock valued at $2,041,000 after acquiring an additional 1,279 shares in the last quarter. Russell Investments Group Ltd. raised its holdings 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 acquiring an additional 2,631 shares in the last quarter. World Asset Management Inc raised its holdings in Avery Dennison Corporation by 19.9% in the 1st quarter. World Asset Management Inc now owns 10,169 shares of the industrial products company’s stock valued at $820,000 after acquiring an additional 1,688 shares in the last quarter. UBS Asset Management Americas Inc. raised its holdings in Avery Dennison Corporation by 16.0% in the 1st quarter. UBS Asset Management Americas Inc. now owns 475,128 shares of the industrial products company’s stock valued at $38,295,000 after acquiring an additional 65,645 shares in the last quarter. Finally, Karp Capital Management Corp acquired a new position in Avery Dennison Corporation in the 1st quarter valued at approximately $4,021,000. 86.65% of the stock is owned by hedge funds and other institutional investors.

AVY has been the subject of several recent research reports. Robert W. Baird reaffirmed a “buy” rating and issued a $100.00 price target on shares of Avery Dennison Corporation in a report on Friday, September 1st. Zacks Investment Research cut Avery Dennison Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Aegis reaffirmed a “hold” rating on shares of Avery Dennison Corporation in a report on Thursday, June 1st. Bank of America Corporation upgraded 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 research note on Tuesday, June 20th. Finally, Citigroup Inc. upped 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. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $92.86.

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In other news, Director Patrick Siewert sold 10,000 shares of Avery Dennison Corporation stock in a transaction that occurred on 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 in the company, valued at $984,893.97. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director David E. I. Pyott sold 2,000 shares of Avery Dennison Corporation stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $94.00, for a total transaction of $188,000.00. 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. Over the last quarter, insiders sold 12,298 shares of company stock valued at $1,152,312. 1.40% of the stock is owned by company insiders.

Shares of Avery Dennison Corporation (NYSE:AVY) opened at 96.83 on Monday. Avery Dennison Corporation has a 1-year low of $68.55 and a 1-year high of $97.11. The stock has a 50 day moving average price of $93.66 and a 200 day moving average price of $86.71. The company has a market capitalization of $8.56 billion, a price-to-earnings ratio of 22.75 and a beta of 1.18.

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

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders of record on Wednesday, September 6th will be given a $0.45 dividend. The ex-dividend date is Friday, September 1st. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.86%. Avery Dennison Corporation’s payout ratio is 42.25%.

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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