Delta Asset Management LLC TN increased its position in Avery Dennison Corporation (NYSE:AVY) by 0.1% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 287,071 shares of the industrial products company’s stock after buying an additional 314 shares during the period. Avery Dennison Corporation makes up 3.9% of Delta Asset Management LLC TN’s portfolio, making the stock its 9th largest position. Delta Asset Management LLC TN’s holdings in Avery Dennison Corporation were worth $25,368,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently modified their holdings of the company. Macquarie Group Ltd. boosted its stake in shares of Avery Dennison Corporation by 314.8% in the fourth quarter. Macquarie Group Ltd. now owns 11,200 shares of the industrial products company’s stock worth $787,000 after buying an additional 8,500 shares during the period. Achmea Investment Management B.V. bought a new stake in shares of Avery Dennison Corporation during the first quarter worth about $2,696,000. JPMorgan Chase & Co. boosted its stake in shares of Avery Dennison Corporation by 43.6% in the first quarter. JPMorgan Chase & Co. now owns 572,631 shares of the industrial products company’s stock worth $46,155,000 after buying an additional 173,901 shares during the period. Atlantic Trust Group LLC boosted its stake in shares of Avery Dennison Corporation by 0.7% in the first quarter. Atlantic Trust Group LLC now owns 10,766 shares of the industrial products company’s stock worth $867,000 after buying an additional 78 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in shares of Avery Dennison Corporation by 39.7% in the first quarter. Principal Financial Group Inc. now owns 835,826 shares of the industrial products company’s stock worth $67,368,000 after buying an additional 237,381 shares during the period. 86.96% of the stock is currently owned by institutional investors and hedge funds.
Shares of Avery Dennison Corporation (NYSE AVY) traded down 3.17% during trading on Tuesday, hitting $90.98. The stock had a trading volume of 517,362 shares. The stock has a 50 day moving average of $88.84 and a 200 day moving average of $82.19. Avery Dennison Corporation has a 12 month low of $68.55 and a 12 month high of $96.70. The company has a market cap of $8.06 billion, a PE ratio of 23.89 and a beta of 1.18.
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 analysts’ consensus estimates of $1.21 by $0.10. The company had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.61 billion. Avery Dennison Corporation had a return on equity of 38.48% and a net margin of 5.56%. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.09 earnings per share. Equities analysts forecast that Avery Dennison Corporation will post $4.60 EPS for the current fiscal year.
Several analysts have weighed in on AVY shares. KeyCorp reaffirmed a “hold” rating on shares of Avery Dennison Corporation in a report on Wednesday, April 26th. 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 raised Avery Dennison Corporation from a “neutral” rating to a “buy” rating and raised their price target for the company from $90.00 to $96.00 in a report on Tuesday, June 20th. Finally, BidaskClub raised Avery Dennison Corporation from a “buy” rating to a “strong-buy” rating in a report on Wednesday, June 28th. Three equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $88.40.
In related news, Director Anthony Anderson sold 6,248 shares of the business’s stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $85.15, for a total value of $532,017.20. Following the sale, the director now directly owns 1,244 shares in the company, valued at $105,926.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Deon Stander sold 5,000 shares of the business’s stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $84.50, for a total value of $422,500.00. Following the completion of the sale, the vice president now owns 10,998 shares in the company, valued at $929,331. The disclosure for this sale can be found here. Insiders sold 12,198 shares of company stock worth $1,034,716 over the last quarter. 1.40% of the stock is owned by company insiders.
About Avery Dennison Corporation
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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