Comerica Bank grew its position in Avery Dennison Corporation (NYSE:AVY) by 3.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 46,668 shares of the industrial products company’s stock after acquiring an additional 1,540 shares during the period. Comerica Bank owned about 0.05% of Avery Dennison Corporation worth $4,916,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Acrospire Investment Management LLC purchased a new stake in shares of Avery Dennison Corporation in the second quarter valued at about $129,000. Captrust Financial Advisors purchased a new stake in shares of Avery Dennison Corporation in the second quarter valued at about $130,000. Pacad Investment Ltd. purchased a new stake in shares of Avery Dennison Corporation in the second quarter valued at about $141,000. Conning Inc. purchased a new stake in shares of Avery Dennison Corporation in the third quarter valued at about $200,000. Finally, Flagship Harbor Advisors LLC purchased a new stake in shares of Avery Dennison Corporation in the third quarter valued at about $213,000. 86.80% of the stock is currently owned by institutional investors and hedge funds.
In other Avery Dennison Corporation news, 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 transaction, the director now owns 16,601 shares in the company, valued at $1,560,494. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Lori J. Bondar sold 10,855 shares of Avery Dennison Corporation stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $110.88, for a total transaction of $1,203,602.40. Following the transaction, the chief accounting officer now owns 18,556 shares of the company’s stock, valued at approximately $2,057,489.28. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 154,902 shares of company stock valued at $16,461,763. 1.40% of the stock is currently owned by company insiders.
Shares of Avery Dennison Corporation (AVY) opened at $111.10 on Thursday. The company has a quick ratio of 0.82, a current ratio of 1.13 and a debt-to-equity ratio of 1.14. The company has a market cap of $9,840.00, a PE ratio of 23.65, a P/E/G ratio of 3.20 and a beta of 1.22. Avery Dennison Corporation has a 52 week low of $69.53 and a 52 week high of $111.83.
Avery Dennison Corporation (NYSE:AVY) last announced its earnings results on Wednesday, October 25th. The industrial products company reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.05. The company had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.65 billion. Avery Dennison Corporation had a net margin of 6.27% and a return on equity of 40.52%. The firm’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.01 earnings per share. research analysts forecast that Avery Dennison Corporation will post 4.93 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 20th. Shareholders of record on Wednesday, December 6th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date is Tuesday, December 5th. Avery Dennison Corporation’s payout ratio is currently 40.18%.
Several analysts recently commented on AVY shares. Robert W. Baird reiterated a “buy” rating and issued a $100.00 price objective on shares of Avery Dennison Corporation in a research note on Friday, September 1st. Loop Capital started coverage on shares of Avery Dennison Corporation in a research note on Thursday, September 28th. They issued a “hold” rating and a $99.00 price objective for the company. Zacks Investment Research upgraded shares of Avery Dennison Corporation from a “hold” rating to a “buy” rating and set a $120.00 price objective for the company in a research note on Tuesday, November 7th. Barclays PLC raised 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. Finally, J P Morgan Chase & Co cut shares of Avery Dennison Corporation from an “overweight” rating to a “neutral” rating in a research note on Thursday, October 26th. Four analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $110.83.
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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