Trilogy Global Advisors LP cut its stake in shares of Avery Dennison Corporation (NYSE:AVY) by 6.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 427,797 shares of the industrial products company’s stock after selling 31,878 shares during the quarter. Avery Dennison Corporation comprises approximately 1.3% of Trilogy Global Advisors LP’s investment portfolio, making the stock its 26th biggest holding. Trilogy Global Advisors LP owned 0.48% of Avery Dennison Corporation worth $37,804,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Mutual of America Capital Management LLC grew its holdings in shares of Avery Dennison Corporation by 30.7% during the second quarter. Mutual of America Capital Management LLC now owns 33,164 shares of the industrial products company’s stock valued at $2,931,000 after buying an additional 7,784 shares during the last quarter. New York State Common Retirement Fund grew its holdings in shares of Avery Dennison Corporation by 7.8% during the second quarter. New York State Common Retirement Fund now owns 223,397 shares of the industrial products company’s stock valued at $19,742,000 after buying an additional 16,231 shares during the last quarter. Acrospire Investment Management LLC purchased a new stake in shares of Avery Dennison Corporation during the second quarter valued at $129,000. Thrivent Financial For Lutherans grew its holdings in shares of Avery Dennison Corporation by 0.9% during the second quarter. Thrivent Financial For Lutherans now owns 4,640 shares of the industrial products company’s stock valued at $413,000 after buying an additional 40 shares during the last quarter. Finally, Westfield Capital Management Co. LP grew its holdings in shares of Avery Dennison Corporation by 17.7% during the second quarter. Westfield Capital Management Co. LP now owns 751,791 shares of the industrial products company’s stock valued at $66,436,000 after buying an additional 112,845 shares during the last quarter. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

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Avery Dennison Corporation (AVY) traded down 0.55% during midday trading on Tuesday, reaching $98.37. 140,625 shares of the company’s stock traded hands. The company has a market capitalization of $8.69 billion, a PE ratio of 23.11 and a beta of 1.18. Avery Dennison Corporation has a 1-year low of $68.55 and a 1-year high of $99.26. The firm’s 50 day moving average price is $93.86 and its 200-day moving average price is $86.91.

Avery Dennison Corporation (NYSE:AVY) last posted 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. The company had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.61 billion. Avery Dennison Corporation had a net margin of 6.14% and a return on equity of 39.29%. Avery Dennison Corporation’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.09 earnings per share. Equities analysts expect that Avery Dennison Corporation will post $4.83 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Wednesday, September 6th will be paid a $0.45 dividend. The ex-dividend date is Friday, September 1st. This represents a $1.80 dividend on an annualized basis and a yield of 1.82%. Avery Dennison Corporation’s dividend payout ratio is presently 42.25%.

In other news, Director David E. I. Pyott sold 2,000 shares of Avery Dennison Corporation 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 sale, the director now owns 16,601 shares of the company’s stock, valued at $1,560,494. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director David E. I. Pyott sold 298 shares of Avery Dennison Corporation stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $94.00, for a total transaction of $28,012.00. Following the completion of the sale, the director now directly owns 16,601 shares in the company, valued at approximately $1,560,494. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,298 shares of company stock worth $1,152,312. 1.40% of the stock is currently owned by company insiders.

AVY has been the topic of a number of research analyst reports. Robert W. Baird reissued a “buy” rating and set a $100.00 price objective on shares of Avery Dennison Corporation in a report on Friday, September 1st. Zacks Investment Research lowered shares of 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 raised shares of Avery Dennison Corporation from a “neutral” rating to a “buy” rating and upped their price target for the company from $90.00 to $96.00 in a report on Tuesday, June 20th. Finally, Citigroup Inc. upped their price target on shares of Avery Dennison Corporation from $106.00 to $108.00 and gave the company a “buy” rating in a report on Wednesday, July 26th. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Avery Dennison Corporation currently has an average rating of “Buy” and an average price target of $92.86.

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).

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

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