Avery Dennison Corporation (AVY) Shares Bought by Peapack Gladstone Financial Corp
Peapack Gladstone Financial Corp boosted its position in Avery Dennison Corporation (NYSE:AVY) by 0.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 123,192 shares of the industrial products company’s stock after acquiring an additional 502 shares during the quarter. Peapack Gladstone Financial Corp owned 0.14% of Avery Dennison Corporation worth $10,886,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently modified their holdings of AVY. American Beacon Advisors Inc. acquired a new position in Avery Dennison Corporation in the first quarter valued at $105,000. Van ECK Associates Corp lifted its stake in shares of Avery Dennison Corporation by 7.7% during the first quarter. Van ECK Associates Corp now owns 1,322 shares of the industrial products company’s stock worth $107,000 after purchasing an additional 94 shares in the last quarter. Acrospire Investment Management LLC acquired a new position in shares of Avery Dennison Corporation during the second quarter worth about $129,000. Captrust Financial Advisors acquired a new position in shares of Avery Dennison Corporation during the second quarter worth about $130,000. Finally, Pacad Investment Ltd. acquired a new position in shares of Avery Dennison Corporation during the second quarter worth about $141,000. Hedge funds and other institutional investors own 86.65% of the company’s stock.
In other Avery Dennison Corporation news, Director David E. I. Pyott sold 2,000 shares of the stock in a transaction 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 transaction, the director now directly owns 16,601 shares of the company’s stock, valued at $1,560,494. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction of $936,300.00. Following the transaction, 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. Insiders have sold 12,298 shares of company stock worth $1,152,312 over the last three months. Company insiders own 1.40% of the company’s stock.
AVY has been the topic of a number of recent research reports. Citigroup Inc. boosted their price objective on Avery Dennison Corporation from $106.00 to $108.00 and gave the stock a “buy” rating in a research note on Wednesday, July 26th. Robert W. Baird restated a “buy” rating and set a $100.00 price objective on shares of Avery Dennison Corporation in a research note on Friday, September 1st. Bank of America Corporation upgraded Avery Dennison Corporation from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $90.00 to $96.00 in a research note on Tuesday, June 20th. BidaskClub upgraded Avery Dennison Corporation from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, June 28th. Finally, KeyCorp restated a “hold” rating on shares of Avery Dennison Corporation in a research note on Friday, September 22nd. Four analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Avery Dennison Corporation has a consensus rating of “Buy” and a consensus target price of $93.14.
Shares of Avery Dennison Corporation (NYSE:AVY) traded up 0.08% on Thursday, hitting $99.79. The company’s stock had a trading volume of 62,960 shares. The stock’s 50 day moving average price is $95.85 and its 200 day moving average price is $88.47. Avery Dennison Corporation has a 52 week low of $68.55 and a 52 week high of $100.10. The stock has a market capitalization of $8.82 billion, a P/E ratio of 23.44 and a beta of 1.19.
Avery Dennison Corporation (NYSE:AVY) last posted its earnings results on Tuesday, July 25th. The industrial products company reported $1.31 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.21 by $0.10. The firm had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.61 billion. Avery Dennison Corporation had a net margin of 6.14% and a return on equity of 39.29%. The business’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.09 earnings per share. On average, analysts forecast that Avery Dennison Corporation will post $4.83 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 20th. Shareholders of record on Wednesday, September 6th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.81%. The ex-dividend date was Friday, September 1st. Avery Dennison Corporation’s payout ratio is 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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