Bp Plc acquired a new stake in Avery Dennison Corp. (NYSE:AVY) during the second quarter, according to its most recent disclosure with the SEC. The firm acquired 12,000 shares of the company’s stock, valued at approximately $897,000.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of AVY. BlackRock Group LTD increased its position in Avery Dennison Corp. by 7.5% in the first quarter. BlackRock Group LTD now owns 804,888 shares of the company’s stock worth $58,039,000 after buying an additional 56,110 shares during the period. BlackRock Japan Co. Ltd increased its position in Avery Dennison Corp. by 10.3% in the first quarter. BlackRock Japan Co. Ltd now owns 106,922 shares of the company’s stock worth $7,710,000 after buying an additional 10,017 shares during the period. JPMorgan Chase & Co. increased its position in Avery Dennison Corp. by 114.3% in the first quarter. JPMorgan Chase & Co. now owns 424,320 shares of the company’s stock worth $30,597,000 after buying an additional 226,348 shares during the period. M&T Bank Corp increased its position in Avery Dennison Corp. by 2.9% in the first quarter. M&T Bank Corp now owns 30,281 shares of the company’s stock worth $2,184,000 after buying an additional 850 shares during the period. Finally, Aviva PLC increased its position in Avery Dennison Corp. by 0.3% in the first quarter. Aviva PLC now owns 46,087 shares of the company’s stock worth $3,323,000 after buying an additional 126 shares during the period. 89.41% of the stock is currently owned by hedge funds and other institutional investors.
Avery Dennison Corp. (NYSE:AVY) traded up 0.27% during trading on Wednesday, reaching $76.65. The company’s stock had a trading volume of 368,591 shares. Avery Dennison Corp. has a 12 month low of $57.06 and a 12 month high of $79.27. The company has a market cap of $6.81 billion, a P/E ratio of 22.85 and a beta of 0.92. The stock’s 50-day moving average is $76.99 and its 200 day moving average is $75.45.
Avery Dennison Corp. (NYSE:AVY) last posted its earnings results on Tuesday, July 26th. The company reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.08. The firm had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.54 billion. Avery Dennison Corp. had a net margin of 5.18% and a return on equity of 34.82%. The company’s revenue was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.91 earnings per share. On average, equities analysts forecast that Avery Dennison Corp. will post $3.94 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 21st. Shareholders of record on Wednesday, September 7th were paid a dividend of $0.41 per share. The ex-dividend date of this dividend was Friday, September 2nd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.14%. Avery Dennison Corp.’s payout ratio is presently 48.81%.
A number of research analysts have recently weighed in on AVY shares. Zacks Investment Research raised Avery Dennison Corp. from a “hold” rating to a “buy” rating and set a $87.00 price target on the stock in a research note on Wednesday, September 21st. Bank of America Corp. downgraded Avery Dennison Corp. from a “buy” rating to an “underperform” rating and set a $75.00 price target on the stock. in a research note on Friday, July 1st. Finally, JPMorgan Chase & Co. upped their price objective on shares of Avery Dennison Corp. from $78.00 to $80.00 and gave the company a “neutral” rating in a research report on Wednesday, July 27th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $80.00.
In other news, VP Susan C. Miller sold 2,000 shares of Avery Dennison Corp. stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $77.36, for a total transaction of $154,720.00. Following the transaction, the vice president now owns 8,518 shares in the company, valued at $658,952.48. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Dean A. Scarborough sold 130,000 shares of Avery Dennison Corp. stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $77.05, for a total transaction of $10,016,500.00. Following the transaction, the insider now owns 261,066 shares in the company, valued at approximately $20,115,135.30. The disclosure for this sale can be found here. Company insiders own 2.70% of the company’s stock.
About Avery Dennison Corp.
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 pressure-sensitive materials are sold to label printers and converters that convert the materials into labels and other products through embossing, printing, stamping and die-cutting.
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