Amundi Pioneer Asset Management Inc. purchased a new stake in Avery Dennison Corp (NYSE:AVY) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 58,648 shares of the industrial products company’s stock, valued at approximately $6,736,000. Amundi Pioneer Asset Management Inc. owned about 0.07% of Avery Dennison as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. West Oak Capital LLC increased its stake in Avery Dennison by 114.3% in the fourth quarter. West Oak Capital LLC now owns 1,500 shares of the industrial products company’s stock valued at $172,000 after purchasing an additional 800 shares during the last quarter. Univest Corp of Pennsylvania acquired a new stake in shares of Avery Dennison in the fourth quarter valued at approximately $205,000. Bank of Stockton acquired a new stake in shares of Avery Dennison in the fourth quarter valued at approximately $206,000. Meridian Investment Counsel Inc. acquired a new stake in shares of Avery Dennison in the fourth quarter valued at approximately $206,000. Finally, Clifford Swan Investment Counsel LLC acquired a new stake in shares of Avery Dennison in the fourth quarter valued at approximately $214,000. Institutional investors own 85.95% of the company’s stock.
Shares of Avery Dennison Corp (AVY) opened at $110.82 on Tuesday. The firm has a market capitalization of $9,815.38, a P/E ratio of 35.41, a PEG ratio of 2.71 and a beta of 1.20. Avery Dennison Corp has a fifty-two week low of $78.47 and a fifty-two week high of $123.67. The company has a quick ratio of 0.83, a current ratio of 1.13 and a debt-to-equity ratio of 1.26.
Avery Dennison (NYSE:AVY) last issued its quarterly earnings results on Wednesday, January 31st. The industrial products company reported $1.33 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.25 by $0.08. Avery Dennison had a return on equity of 42.26% and a net margin of 4.26%. The firm had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.70 billion. During the same period last year, the company earned $0.99 earnings per share. The company’s revenue for the quarter was up 11.9% on a year-over-year basis. sell-side analysts predict that Avery Dennison Corp will post 5.88 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 21st. Investors of record on Wednesday, March 7th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.62%. The ex-dividend date of this dividend is Tuesday, March 6th. Avery Dennison’s dividend payout ratio is presently 57.51%.
In related news, Director Anthony Anderson sold 2,770 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $117.50, for a total transaction of $325,475.00. Following the completion of the sale, the director now directly owns 4,014 shares of the company’s stock, valued at $471,645. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Anne Hill sold 21,134 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $118.07, for a total value of $2,495,291.38. Following the sale, the vice president now directly owns 41,863 shares of the company’s stock, valued at $4,942,764.41. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 50,383 shares of company stock valued at $5,847,190. Corporate insiders own 1.40% of the company’s stock.
AVY has been the subject of several research analyst reports. Zacks Investment Research raised Avery Dennison from a “hold” rating to a “buy” rating and set a $132.00 price objective for the company in a report on Monday, February 5th. Bank of America increased their price objective on Avery Dennison from $128.00 to $133.00 and gave the company a “buy” rating in a report on Thursday, February 1st. UBS initiated coverage on Avery Dennison in a report on Thursday, January 18th. They issued a “buy” rating and a $135.00 price objective for the company. JPMorgan Chase & Co. raised Avery Dennison from an “underweight” rating to a “neutral” rating in a report on Monday, February 12th. Finally, Barclays increased their price objective on Avery Dennison from $135.00 to $140.00 and gave the company an “overweight” rating in a report on Monday, February 12th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $122.00.
ILLEGAL ACTIVITY WARNING: “Amundi Pioneer Asset Management Inc. Takes Position in Avery Dennison Corp (AVY)” was first published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this story on another site, it was copied illegally and republished in violation of US & international trademark & copyright law. The correct version of this story can be read at https://ledgergazette.com/2018/03/20/amundi-pioneer-asset-management-inc-takes-position-in-avery-dennison-corp-avy.html.
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).
Want to see what other hedge funds are holding AVY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Avery Dennison Corp (NYSE:AVY).
Receive News & Ratings for Avery Dennison Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avery Dennison and related companies with MarketBeat.com's FREE daily email newsletter.