Avery Dennison Corporation (AVY) Holdings Trimmed by Anchor Capital Advisors LLC
Anchor Capital Advisors LLC reduced its stake in shares of Avery Dennison Corporation (NYSE:AVY) by 2.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 232,611 shares of the industrial products company’s stock after selling 7,047 shares during the quarter. Anchor Capital Advisors LLC owned 0.26% of Avery Dennison Corporation worth $22,875,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. Meag Munich Ergo Kapitalanlagegesellschaft MBH acquired a new position in Avery Dennison Corporation during the third quarter worth about $12,219,000. Courier Capital LLC grew its position in shares of Avery Dennison Corporation by 35.6% in the third quarter. Courier Capital LLC now owns 6,536 shares of the industrial products company’s stock valued at $643,000 after purchasing an additional 1,716 shares during the last quarter. FDx Advisors Inc. grew its position in shares of Avery Dennison Corporation by 59.6% in the third quarter. FDx Advisors Inc. now owns 17,651 shares of the industrial products company’s stock valued at $1,736,000 after purchasing an additional 6,594 shares during the last quarter. Jennison Associates LLC acquired a new stake in shares of Avery Dennison Corporation in the third quarter valued at approximately $1,875,000. Finally, Breton Hill Capital Ltd. acquired a new stake in shares of Avery Dennison Corporation in the third quarter valued at approximately $470,000. Institutional investors own 86.43% of the company’s stock.
Several analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Avery Dennison Corporation from a “hold” rating to a “buy” rating and set a $120.00 price target on the stock in a research report on Tuesday, November 7th. KeyCorp reissued a “hold” rating on shares of Avery Dennison Corporation in a research note on Monday, October 30th. Barclays PLC upped their price objective on shares of Avery Dennison Corporation from $105.00 to $120.00 and gave the company an “overweight” rating in a research note on Monday, October 30th. Robert W. Baird reissued a “buy” rating and set a $115.00 price objective on shares of Avery Dennison Corporation in a research note on Friday, October 27th. Finally, Loop Capital upped their price objective on shares of Avery Dennison Corporation from $99.00 to $106.00 and gave the company a “hold” rating in a research note on Thursday, October 26th. 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 stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $105.71.
Avery Dennison Corporation (NYSE:AVY) traded down $0.57 during trading hours on Monday, reaching $105.19. 585,200 shares of the company’s stock were exchanged, compared to its average volume of 656,869. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.82 and a current ratio of 1.13. The stock has a market capitalization of $9,260.00, a P/E ratio of 22.52, a P/E/G ratio of 3.05 and a beta of 1.22. Avery Dennison Corporation has a 12 month low of $68.93 and a 12 month high of $108.99.
Avery Dennison Corporation (NYSE:AVY) last posted its quarterly earnings results on Wednesday, October 25th. The industrial products company reported $1.26 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.21 by $0.05. The company had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.65 billion. Avery Dennison Corporation had a net margin of 6.27% and a return on equity of 40.52%. Avery Dennison Corporation’s revenue was up 11.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.01 earnings per share. research analysts anticipate that Avery Dennison Corporation will post 4.93 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 20th. Shareholders of record on Wednesday, December 6th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date is Tuesday, December 5th. Avery Dennison Corporation’s dividend payout ratio is currently 40.18%.
In other news, insider Mitchell R. Butier sold 77,551 shares of the stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $106.31, for a total value of $8,244,446.81. Following the completion of the sale, the insider now owns 130,673 shares of the company’s stock, valued at $13,891,846.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David E. I. Pyott sold 298 shares of the stock in a transaction on Monday, August 28th. The stock was 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 of the company’s stock, valued at approximately $1,560,494. The disclosure for this sale can be found here. Insiders sold 140,047 shares of company stock valued at $14,824,481 in the last three months. Company insiders own 1.40% of the company’s stock.
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).
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