Albert D Mason Inc. reduced its position in shares of Avery Dennison Corporation (NYSE:AVY) by 0.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 19,422 shares of the industrial products company’s stock after selling 50 shares during the period. Avery Dennison Corporation makes up approximately 1.4% of Albert D Mason Inc.’s portfolio, making the stock its 20th largest position. Albert D Mason Inc.’s holdings in Avery Dennison Corporation were worth $1,716,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. BlackRock Inc. boosted its stake in shares of Avery Dennison Corporation by 3,215.2% in the first quarter. BlackRock Inc. now owns 6,908,540 shares of the industrial products company’s stock worth $556,829,000 after buying an additional 6,700,152 shares in the last quarter. Westfield Capital Management Co. LP acquired a new stake in shares of Avery Dennison Corporation during the first quarter worth $51,499,000. MARSHALL WACE ASIA Ltd acquired a new stake in shares of Avery Dennison Corporation during the first quarter worth $31,288,000. Marshall Wace North America L.P. purchased a new stake in Avery Dennison Corporation during the first quarter valued at approximately $31,288,000. Finally, Victory Capital Management Inc. boosted its stake in Avery Dennison Corporation by 28.1% in the first quarter. Victory Capital Management Inc. now owns 1,597,356 shares of the industrial products company’s stock valued at $128,748,000 after buying an additional 350,792 shares during the period. 88.28% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Avery Dennison Corporation (NYSE:AVY) opened at 93.68 on Tuesday. The stock has a market capitalization of $8.28 billion, a P/E ratio of 22.01 and a beta of 1.18. Avery Dennison Corporation has a one year low of $68.55 and a one year high of $96.70. The stock’s 50 day moving average is $91.96 and its 200-day moving average is $84.29.
Avery Dennison Corporation (NYSE:AVY) last released its quarterly earnings data 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. Avery Dennison Corporation had a return on equity of 39.29% and a net margin of 6.14%. The firm had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter in the prior year, the company posted $1.09 earnings per share. The firm’s revenue was up 5.7% on a year-over-year basis. On average, equities research analysts expect that Avery Dennison Corporation will post $4.83 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 20th. Investors of record on Wednesday, September 6th will be issued 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 1.92%. Avery Dennison Corporation’s dividend payout ratio is currently 42.25%.
Several analysts have recently commented on AVY shares. Zacks Investment Research upgraded shares of Avery Dennison Corporation from a “hold” rating to a “buy” rating and set a $93.00 target price for the company in a research note on Monday, May 22nd. Bank of America Corporation upgraded shares of Avery Dennison Corporation from a “neutral” rating to a “buy” rating and raised their target price for the stock from $90.00 to $96.00 in a research note on Tuesday, June 20th. Citigroup Inc. raised their price objective on shares of Avery Dennison Corporation from $106.00 to $108.00 and gave the company a “buy” rating in a research note on Wednesday, July 26th. BidaskClub cut shares of Avery Dennison Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 9th. Finally, Aegis reiterated a “hold” rating on shares of Avery Dennison Corporation in a research note on Thursday, June 1st. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Avery Dennison Corporation presently has an average rating of “Buy” and an average target price of $91.67.
In related news, VP Deon Stander sold 5,000 shares of the stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $84.50, for a total value of $422,500.00. Following the transaction, the vice president now owns 10,998 shares in the company, valued at $929,331. The transaction was disclosed in a filing 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 that occurred on Thursday, August 3rd. The stock was sold at an average price of $93.63, for a total value of $936,300.00. Following the completion of the transaction, the director now owns 10,519 shares in the company, valued at approximately $984,893.97. The disclosure for this sale can be found here. Insiders sold 21,248 shares of company stock worth $1,890,817 in the last 90 days. 1.40% of the stock is currently owned by corporate 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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