Oakbrook Investments LLC decreased its position in Avery Dennison Corp (NYSE:AVY) by 3.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,262 shares of the industrial products company’s stock after selling 295 shares during the quarter. Oakbrook Investments LLC’s holdings in Avery Dennison were worth $1,071,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Horizon Investments LLC bought a new stake in Avery Dennison during the 1st quarter valued at $271,000. Gotham Asset Management LLC raised its stake in Avery Dennison by 457.3% during the 4th quarter. Gotham Asset Management LLC now owns 68,168 shares of the industrial products company’s stock valued at $6,124,000 after acquiring an additional 55,937 shares in the last quarter. Fenimore Asset Management Inc. raised its stake in Avery Dennison by 7.1% during the 1st quarter. Fenimore Asset Management Inc. now owns 576,491 shares of the industrial products company’s stock valued at $65,143,000 after acquiring an additional 38,207 shares in the last quarter. Xact Kapitalforvaltning AB raised its stake in Avery Dennison by 9.8% during the 1st quarter. Xact Kapitalforvaltning AB now owns 17,022 shares of the industrial products company’s stock valued at $1,923,000 after acquiring an additional 1,526 shares in the last quarter. Finally, New York State Common Retirement Fund raised its stake in Avery Dennison by 6.9% during the 1st quarter. New York State Common Retirement Fund now owns 213,000 shares of the industrial products company’s stock valued at $24,069,000 after acquiring an additional 13,685 shares in the last quarter. Institutional investors own 88.20% of the company’s stock.
In other news, VP Lori J. Bondar sold 5,000 shares of Avery Dennison stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $111.50, for a total transaction of $557,500.00. Following the transaction, the vice president now owns 22,428 shares in the company, valued at $2,500,722. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ken C. Hicks sold 9,691 shares of Avery Dennison stock in a transaction on Friday, April 26th. The shares were sold at an average price of $110.10, for a total value of $1,066,979.10. Following the transaction, the director now owns 28,396 shares in the company, valued at approximately $3,126,399.60. The disclosure for this sale can be found here. Insiders sold a total of 17,416 shares of company stock worth $1,933,140 over the last 90 days. Insiders own 1.30% of the company’s stock.
Shares of AVY traded up $4.80 during midday trading on Tuesday, reaching $117.09. The stock had a trading volume of 952,352 shares, compared to its average volume of 551,415. Avery Dennison Corp has a 52 week low of $82.89 and a 52 week high of $120.65. 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 firm has a 50 day moving average of $113.48. The firm has a market cap of $9.89 billion, a P/E ratio of 19.32, a P/E/G ratio of 2.10 and a beta of 1.35.
Avery Dennison (NYSE:AVY) last issued its earnings results on Tuesday, July 23rd. The industrial products company reported $1.72 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.68 by $0.04. The business had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.83 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 3.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.66 EPS. Sell-side analysts expect that Avery Dennison Corp will post 6.56 earnings per share for the current year.
Several analysts have weighed in on the company. Citigroup lifted their target price on Silgan from $34.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. KeyCorp reaffirmed a “hold” rating on shares of Silgan in a research note on Wednesday, April 24th. Bank of America set a $80.00 target price on Colgate-Palmolive and gave the company a “buy” rating in a research note on Friday, July 12th. JPMorgan Chase & Co. set a €8.75 ($10.17) price objective on Commerzbank and gave the stock a “buy” rating in a research note on Thursday, April 18th. Finally, Zacks Investment Research downgraded Wix.Com from a “hold” rating to a “sell” rating in a research note on Monday, April 8th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $119.38.
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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