Nissay Asset Management Corp Japan ADV increased its position in Avery Dennison Corp (NYSE:AVY) by 2.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,727 shares of the industrial products company’s stock after acquiring an additional 198 shares during the quarter. Nissay Asset Management Corp Japan ADV’s holdings in Avery Dennison were worth $873,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in AVY. Wealthcare Advisory Partners LLC increased its holdings in Avery Dennison by 90.7% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 286 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 136 shares in the last quarter. CSat Investment Advisory L.P. increased its holdings in Avery Dennison by 60.8% in the 4th quarter. CSat Investment Advisory L.P. now owns 341 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 129 shares in the last quarter. Penserra Capital Management LLC purchased a new stake in Avery Dennison in the 4th quarter worth approximately $40,000. Bremer Trust National Association purchased a new stake in Avery Dennison in the 4th quarter worth approximately $42,000. Finally, Washington Trust Bank increased its holdings in Avery Dennison by 104.9% in the 1st quarter. Washington Trust Bank now owns 547 shares of the industrial products company’s stock worth $62,000 after acquiring an additional 280 shares in the last quarter. 90.24% of the stock is owned by institutional investors.
AVY stock opened at $101.66 on Monday. Avery Dennison Corp has a 1-year low of $82.89 and a 1-year high of $117.00. The company has a quick ratio of 0.80, a current ratio of 1.14 and a debt-to-equity ratio of 1.77. The company has a market capitalization of $8.58 billion, a price-to-earnings ratio of 16.78, a price-to-earnings-growth ratio of 1.88 and a beta of 1.35.
Avery Dennison (NYSE:AVY) last posted its earnings results on Wednesday, April 24th. The industrial products company reported $1.48 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.02. The firm had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.77 billion. Avery Dennison had a return on equity of 53.28% and a net margin of 2.74%. The company’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.44 EPS. On average, sell-side analysts expect that Avery Dennison Corp will post 6.55 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 19th. Stockholders of record on Wednesday, June 5th will be given a dividend of $0.58 per share. This is an increase from Avery Dennison’s previous quarterly dividend of $0.52. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date of this dividend is Tuesday, June 4th. Avery Dennison’s dividend payout ratio is currently 34.32%.
In related news, insider Georges Gravanis sold 14,000 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $110.66, for a total value of $1,549,240.00. Following the completion of the sale, the insider now directly owns 13,898 shares in the company, valued at $1,537,952.68. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Ken C. Hicks sold 9,691 shares of the firm’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $110.10, for a total value of $1,066,979.10. Following the completion of the sale, the director now owns 28,396 shares of the company’s stock, valued at $3,126,399.60. The disclosure for this sale can be found here. Insiders have sold a total of 238,328 shares of company stock valued at $25,927,220 over the last quarter. Corporate insiders own 1.30% of the company’s stock.
AVY has been the subject of several analyst reports. KeyCorp reissued a “sector weight” rating and issued a $110.00 target price on shares of Avery Dennison in a report on Sunday, April 7th. Zacks Investment Research lowered shares of Avery Dennison from a “hold” rating to a “sell” rating in a report on Tuesday, January 29th. BMO Capital Markets increased their target price on shares of Avery Dennison to $114.00 and gave the stock a “market perform” rating in a report on Monday, February 4th. JPMorgan Chase & Co. downgraded Avery Dennison from an “overweight” rating to a “neutral” rating and set a $105.00 price target for the company. in a research note on Friday, March 15th. They noted that the move was a valuation call. Finally, Loop Capital downgraded Avery Dennison from a “buy” rating to a “hold” rating in a research note on Wednesday, March 20th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. Avery Dennison currently has an average rating of “Hold” and a consensus target price of $118.44.
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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, as well as durable cast and reflective films.
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