Ameriprise Financial Inc. lifted its holdings in Avery Dennison Corporation (NYSE:AVY) by 16.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 293,245 shares of the industrial products company’s stock after purchasing an additional 42,004 shares during the period. Ameriprise Financial Inc. owned 0.33% of Avery Dennison worth $28,839,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Acrospire Investment Management LLC bought a new position in shares of Avery Dennison during the 2nd quarter valued at approximately $129,000. Captrust Financial Advisors bought a new position in shares of Avery Dennison during the 2nd quarter worth $130,000. Pacad Investment Ltd. bought a new position in shares of Avery Dennison during the 2nd quarter worth $141,000. Conning Inc. bought a new position in shares of Avery Dennison during the 3rd quarter worth $200,000. Finally, Davidson & Garrard Inc. purchased a new stake in shares of Avery Dennison during the 3rd quarter worth $202,000. 85.28% of the stock is owned by hedge funds and other institutional investors.
In other news, CAO Lori J. Bondar sold 10,855 shares of the firm’s stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $110.88, for a total value of $1,203,602.40. Following the completion of the transaction, the chief accounting officer now directly owns 18,556 shares in the company, valued at $2,057,489.28. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Susan C. Miller sold 6,518 shares of the firm’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $105.17, for a total value of $685,498.06. Following the completion of the transaction, the vice president now owns 13,409 shares of the company’s stock, valued at $1,410,224.53. The disclosure for this sale can be found here. Over the last quarter, insiders sold 152,604 shares of company stock valued at $16,245,751. 1.40% of the stock is currently owned by company insiders.
Shares of Avery Dennison Corporation (NYSE AVY) opened at $113.21 on Wednesday. The company has a quick ratio of 0.82, a current ratio of 1.13 and a debt-to-equity ratio of 1.14. Avery Dennison Corporation has a 12 month low of $69.53 and a 12 month high of $114.79. The company has a market capitalization of $9,861.83, a PE ratio of 23.99, a price-to-earnings-growth ratio of 3.24 and a beta of 1.24.
Avery Dennison (NYSE:AVY) last released its quarterly earnings results on Wednesday, October 25th. The industrial products company reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.05. Avery Dennison had a return on equity of 40.52% and a net margin of 6.27%. The company had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.65 billion. During the same period last year, the business posted $1.01 earnings per share. The firm’s revenue was up 11.3% compared to the same quarter last year. equities research analysts predict that Avery Dennison Corporation will post 4.93 EPS for the current year.
The firm 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 $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date is Tuesday, December 5th. Avery Dennison’s dividend payout ratio (DPR) is presently 40.18%.
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About Avery Dennison
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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