Trustmark National Bank Trust Department Reduces Position in Avery Dennison Corporation (AVY)

Trustmark National Bank Trust Department trimmed its position in shares of Avery Dennison Corporation (NYSE:AVY) by 86.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,328 shares of the industrial products company’s stock after selling 32,840 shares during the quarter. Trustmark National Bank Trust Department’s holdings in Avery Dennison Corporation were worth $471,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of AVY. American Beacon Advisors Inc. purchased a new stake in shares of Avery Dennison Corporation during the first quarter worth approximately $105,000. Van ECK Associates Corp increased its position in shares of Avery Dennison Corporation by 7.7% during the first quarter. Van ECK Associates Corp now owns 1,322 shares of the industrial products company’s stock worth $107,000 after purchasing an additional 94 shares in the last quarter. Acrospire Investment Management LLC purchased a new stake in shares of Avery Dennison Corporation during the second quarter worth approximately $129,000. Captrust Financial Advisors purchased a new stake in shares of Avery Dennison Corporation during the second quarter worth approximately $130,000. Finally, Bronfman E.L. Rothschild L.P. increased its position in shares of Avery Dennison Corporation by 21.1% during the first quarter. Bronfman E.L. Rothschild L.P. now owns 1,737 shares of the industrial products company’s stock worth $140,000 after purchasing an additional 303 shares in the last quarter. Hedge funds and other institutional investors own 86.65% of the company’s stock.

In other Avery Dennison Corporation news, Director David E. I. Pyott sold 2,000 shares of the firm’s stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $94.00, for a total transaction of $188,000.00. Following the completion of the transaction, the director now owns 16,601 shares of the company’s stock, valued at $1,560,494. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director David E. I. Pyott sold 298 shares of the firm’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $94.00, for a total value of $28,012.00. Following the transaction, 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 have sold 12,298 shares of company stock valued at $1,152,312 in the last three months. 1.40% of the stock is currently owned by company insiders.

Avery Dennison Corporation (AVY) traded up 0.42% during trading on Wednesday, reaching $98.91. The company’s stock had a trading volume of 64,591 shares. Avery Dennison Corporation has a 52 week low of $68.55 and a 52 week high of $99.26. The company has a 50 day moving average price of $94.02 and a 200-day moving average price of $87.03. The company has a market capitalization of $8.74 billion, a PE ratio of 23.23 and a beta of 1.18.

Avery Dennison Corporation (NYSE:AVY) last released its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $1.31 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.61 billion. During the same period last year, the business posted $1.09 EPS. Avery Dennison Corporation’s quarterly revenue was up 5.7% on a year-over-year basis. Equities research analysts anticipate that Avery Dennison Corporation will post $4.83 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Wednesday, September 6th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.83%. The ex-dividend date is Friday, September 1st. Avery Dennison Corporation’s payout ratio is 42.25%.

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Several analysts recently commented on the company. Aegis reiterated a “hold” rating on shares of Avery Dennison Corporation in a research report on Thursday, June 1st. BidaskClub upgraded Avery Dennison Corporation from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 28th. Bank of America Corporation upgraded Avery Dennison Corporation from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $90.00 to $96.00 in a research report on Tuesday, June 20th. Zacks Investment Research cut Avery Dennison Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, June 22nd. Finally, Citigroup Inc. boosted their price target on Avery Dennison Corporation from $106.00 to $108.00 and gave the stock a “buy” rating in a research report on Wednesday, July 26th. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Avery Dennison Corporation has an average rating of “Buy” and a consensus price target of $92.86.

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).

Institutional Ownership by Quarter for Avery Dennison Corporation (NYSE:AVY)

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