Nationwide Fund Advisors decreased its position in shares of Avery Dennison Corp. (NYSE:AVY) by 2.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,014 shares of the company’s stock after selling 759 shares during the period. Nationwide Fund Advisors’ holdings in Avery Dennison Corp. were worth $1,870,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of AVY. Bank of Montreal Can purchased a new stake in Avery Dennison Corp. during the second quarter worth about $158,866,000. Goldman Sachs Group Inc. increased its stake in Avery Dennison Corp. by 36.0% in the first quarter. Goldman Sachs Group Inc. now owns 2,004,628 shares of the company’s stock worth $144,554,000 after buying an additional 531,095 shares during the period. AMI Asset Management Corp purchased a new stake in Avery Dennison Corp. during the second quarter worth about $22,029,000. JPMorgan Chase & Co. increased its stake 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. Finally, Renaissance Technologies LLC increased its stake in Avery Dennison Corp. by 36.5% in the first quarter. Renaissance Technologies LLC now owns 771,900 shares of the company’s stock worth $55,662,000 after buying an additional 206,400 shares during the period. 89.49% of the stock is owned by hedge funds and other institutional investors.
Avery Dennison Corp. (NYSE:AVY) traded up 0.96% on Friday, hitting $76.45. The company had a trading volume of 393,087 shares. The firm’s 50 day moving average price is $77.06 and its 200 day moving average price is $75.34. The stock has a market cap of $6.79 billion, a P/E ratio of 22.79 and a beta of 0.92. Avery Dennison Corp. has a 12-month low of $57.06 and a 12-month high of $79.27.
Avery Dennison Corp. (NYSE:AVY) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $1.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.08. Avery Dennison Corp. had a return on equity of 34.82% and a net margin of 5.18%. The business earned $1.54 billion during the quarter, compared to analyst estimates of $1.54 billion. During the same period last year, the company earned $0.91 earnings per share. Avery Dennison Corp.’s quarterly revenue was up 1.7% compared to the same quarter last year. Equities analysts predict that Avery Dennison Corp. will post $3.94 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 21st. Shareholders of record on Wednesday, September 7th were given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 2.15%. The ex-dividend date of this dividend was Friday, September 2nd. Avery Dennison Corp.’s payout ratio is 48.81%.
AVY has been the subject of several analyst reports. Bank of America Corp. downgraded Avery Dennison Corp. from a “buy” rating to an “underperform” rating and set a $75.00 target price for the company. in a research report on Friday, July 1st. Zacks Investment Research downgraded Avery Dennison Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, September 20th. Finally, JPMorgan Chase & Co. upped their target price on Avery Dennison Corp. from $78.00 to $80.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 27th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $78.00.
In other Avery Dennison Corp. news, insider Dean A. Scarborough sold 130,000 shares of the stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $77.05, for a total transaction of $10,016,500.00. Following the transaction, the insider now directly owns 261,066 shares of the company’s stock, valued at $20,115,135.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director David E. I. Pyott sold 2,000 shares of the stock in a transaction on Monday, August 8th. The stock was sold at an average price of $78.61, for a total transaction of $157,220.00. Following the transaction, the director now directly owns 16,058 shares in the company, valued at $1,262,319.38. The disclosure for this sale can be found here. Company insiders own 2.70% of the company’s stock.
Avery Dennison Corp. Company Profile
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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