Cambridge Investment Research Advisors Inc. grew its position in Avery Dennison Corp (NYSE:AVY) by 153.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,217 shares of the industrial products company’s stock after purchasing an additional 3,162 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Avery Dennison were worth $599,000 as of its most recent filing with the SEC.
Several other large investors have also recently bought and sold shares of the company. Xact Kapitalforvaltning AB boosted its stake in shares of Avery Dennison by 6.3% in the 4th quarter. Xact Kapitalforvaltning AB now owns 16,185 shares of the industrial products company’s stock valued at $1,859,000 after purchasing an additional 964 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Avery Dennison by 4.6% in the 4th quarter. Envestnet Asset Management Inc. now owns 39,212 shares of the industrial products company’s stock valued at $4,502,000 after purchasing an additional 1,732 shares during the last quarter. Dixon Hubard Feinour & Brown Inc. VA bought a new stake in shares of Avery Dennison in the 4th quarter valued at $6,834,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in shares of Avery Dennison by 1.1% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 50,490 shares of the industrial products company’s stock valued at $5,799,000 after purchasing an additional 540 shares during the last quarter. Finally, We Are One Seven LLC bought a new stake in shares of Avery Dennison in the 4th quarter valued at $434,000. 85.91% of the stock is currently owned by institutional investors.
AVY has been the topic of a number of analyst reports. Zacks Investment Research lowered shares of Avery Dennison from a “buy” rating to a “hold” rating in a research note on Friday, January 5th. UBS initiated coverage on shares of Avery Dennison in a research note on Thursday, January 18th. They issued a “buy” rating and a $135.00 price objective on the stock. JPMorgan Chase lowered shares of Avery Dennison from a “neutral” rating to an “underweight” rating and set a $113.00 price objective on the stock. in a research note on Thursday, February 1st. Bank of America increased their target price on shares of Avery Dennison from $128.00 to $133.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. Finally, Barclays increased their target price on shares of Avery Dennison from $135.00 to $140.00 and gave the stock an “overweight” rating in a research note on Monday, February 12th. One analyst has rated the stock with a sell rating, five have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Avery Dennison currently has a consensus rating of “Buy” and a consensus target price of $123.67.
Shares of NYSE AVY opened at $108.20 on Thursday. The firm has a market cap of $9,468.07, a P/E ratio of 21.49, a P/E/G ratio of 2.62 and a beta of 1.25. Avery Dennison Corp has a 12-month low of $80.83 and a 12-month high of $123.67. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.83 and a current ratio of 1.13.
Avery Dennison (NYSE:AVY) last issued its earnings results on Wednesday, January 31st. The industrial products company reported $1.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.25 by $0.08. Avery Dennison had a net margin of 4.26% and a return on equity of 42.26%. The business had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.70 billion. During the same period in the prior year, the firm earned $0.99 earnings per share. Avery Dennison’s revenue was up 11.9% on a year-over-year basis. equities research analysts predict that Avery Dennison Corp will post 5.88 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 21st. Shareholders of record on Wednesday, March 7th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date of this dividend was Tuesday, March 6th. Avery Dennison’s dividend payout ratio (DPR) is 36.00%.
In other Avery Dennison news, Director Dean A. Scarborough sold 30,000 shares of the firm’s stock in a transaction on Wednesday, March 21st. The shares were sold at an average price of $110.48, for a total value of $3,314,400.00. Following the transaction, the director now directly owns 136,953 shares of the company’s stock, valued at $15,130,567.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Anne Hill sold 21,134 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $118.07, for a total transaction of $2,495,291.38. Following the completion of the sale, the vice president now owns 41,863 shares of the company’s stock, valued at approximately $4,942,764.41. The disclosure for this sale can be found here. Insiders sold 166,409 shares of company stock worth $18,288,509 over the last ninety days. Insiders own 1.30% of the company’s stock.
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About Avery Dennison
Avery Dennison Corporation produces and sells pressure-sensitive materials worldwide. The company's Label and Graphic Materials segment offers pressure-sensitive label and packaging materials; and graphics and reflective products under the Fasson, JAC, Avery Dennison, and Mactac brands. It also offers durable cast and reflective films.
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