Swiss National Bank raised its holdings in Avery Dennison Corporation (NYSE:AVY) by 0.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 327,256 shares of the industrial products company’s stock after purchasing an additional 1,100 shares during the quarter. Swiss National Bank owned 371,712.86% of Avery Dennison Corporation worth $32,182,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Acrospire Investment Management LLC acquired a new stake in shares of Avery Dennison Corporation during the 2nd quarter valued at $129,000. Captrust Financial Advisors acquired a new stake in shares of Avery Dennison Corporation during the 2nd quarter valued at $130,000. Pacad Investment Ltd. acquired a new position in Avery Dennison Corporation during the 2nd quarter worth about $141,000. Conning Inc. acquired a new position in Avery Dennison Corporation during the 3rd quarter worth about $200,000. Finally, Flagship Harbor Advisors LLC acquired a new position in Avery Dennison Corporation during the 3rd quarter worth about $213,000. 86.43% of the stock is currently owned by hedge funds and other institutional investors.
Avery Dennison Corporation (NYSE:AVY) opened at $108.25 on Friday. Avery Dennison Corporation has a 12 month low of $69.53 and a 12 month high of $108.99. The firm has a market capitalization of $9,481.52, a P/E ratio of 23.06, a PEG ratio of 3.12 and a beta of 1.22. 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 (NYSE:AVY) last announced its earnings results on Wednesday, October 25th. The industrial products company reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.05. Avery Dennison Corporation had a return on equity of 40.52% and a net margin of 6.27%. The firm had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter in the previous year, the business earned $1.01 EPS. The company’s revenue was up 11.3% compared to the same quarter last year. research analysts forecast that Avery Dennison Corporation will post 4.93 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 20th. Stockholders of record on Wednesday, December 6th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Tuesday, December 5th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.66%. Avery Dennison Corporation’s payout ratio is presently 40.18%.
In other Avery Dennison Corporation news, insider Mitchell R. Butier sold 77,551 shares of the business’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $106.31, for a total transaction of $8,244,446.81. Following the sale, the insider now owns 130,673 shares of the company’s stock, valued at approximately $13,891,846.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David E. I. Pyott sold 298 shares of the business’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $94.00, for a total transaction of $28,012.00. Following the sale, the director now directly owns 16,601 shares in the company, valued at approximately $1,560,494. The disclosure for this sale can be found here. Insiders sold a total of 140,047 shares of company stock worth $14,824,481 in the last 90 days. Company insiders own 1.40% of the company’s stock.
Several research analysts have commented on the company. KeyCorp reaffirmed a “hold” rating on shares of Avery Dennison Corporation in a report on Monday, October 30th. Zacks Investment Research lowered Avery Dennison Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, October 31st. Citigroup Inc. lifted their price objective 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. J P Morgan Chase & Co lowered Avery Dennison Corporation from an “overweight” rating to a “neutral” rating in a research report on Thursday, October 26th. Finally, Loop Capital boosted their target price on Avery Dennison Corporation from $99.00 to $106.00 and gave the company a “hold” rating in a research report on Thursday, October 26th. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $105.71.
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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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