Mandatum Life Insurance Co Ltd Maintains Stake in Avery Dennison Corp (AVY)

Mandatum Life Insurance Co Ltd continued to hold its position in shares of Avery Dennison Corp (NYSE:AVY) during the first quarter, Holdings Channel reports. The firm owned 5,616 shares of the industrial products company’s stock at the end of the first quarter. Mandatum Life Insurance Co Ltd’s holdings in Avery Dennison Corp were worth $453,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of AVY. State Street Corp raised its position in shares of Avery Dennison Corp by 5.3% in the fourth quarter. State Street Corp now owns 4,528,426 shares of the industrial products company’s stock valued at $317,975,000 after buying an additional 228,265 shares in the last quarter. AQR Capital Management LLC raised its position in shares of Avery Dennison Corp by 18.3% in the fourth quarter. AQR Capital Management LLC now owns 2,552,362 shares of the industrial products company’s stock valued at $179,227,000 after buying an additional 394,003 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Avery Dennison Corp by 14.9% in the first quarter. Bank of New York Mellon Corp now owns 1,829,372 shares of the industrial products company’s stock valued at $147,448,000 after buying an additional 237,829 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of Avery Dennison Corp by 12.0% in the third quarter. Wells Fargo & Company MN now owns 1,032,376 shares of the industrial products company’s stock valued at $80,310,000 after buying an additional 110,529 shares in the last quarter. Finally, Fiduciary Management Inc. WI raised its position in shares of Avery Dennison Corp by 5.9% in the fourth quarter. Fiduciary Management Inc. WI now owns 909,889 shares of the industrial products company’s stock valued at $63,892,000 after buying an additional 50,590 shares in the last quarter. 86.43% of the stock is owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Avery Dennison Corp (NYSE:AVY)

Avery Dennison Corp (NYSE:AVY) traded up 0.32% during midday trading on Friday, reaching $82.76. The company’s stock had a trading volume of 721,058 shares. The firm has a market capitalization of $7.33 billion, a P/E ratio of 21.73 and a beta of 1.12. The company’s 50-day moving average is $82.03 and its 200 day moving average is $76.78. Avery Dennison Corp has a 52 week low of $68.55 and a 52 week high of $84.57.

Avery Dennison Corp (NYSE:AVY) last issued its quarterly earnings data on Wednesday, April 26th. The industrial products company reported $1.11 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.04 by $0.07. Avery Dennison Corp had a net margin of 5.27% and a return on equity of 37.46%. The business had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.53 billion. During the same period last year, the company posted $0.94 EPS. The company’s revenue was up 5.8% on a year-over-year basis. Analysts expect that Avery Dennison Corp will post $4.60 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 21st. Stockholders of record on Wednesday, June 7th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.17%. This is a boost from Avery Dennison Corp’s previous quarterly dividend of $0.41. The ex-dividend date is Monday, June 5th. Avery Dennison Corp’s dividend payout ratio (DPR) is 46.46%.

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Several equities analysts recently weighed in on AVY shares. Zacks Investment Research upgraded Avery Dennison Corp from a “sell” rating to a “buy” rating and set a $89.00 price target for the company in a research note on Friday, February 3rd. KeyCorp restated a “hold” rating on shares of Avery Dennison Corp in a research note on Wednesday, April 26th. Finally, Barclays PLC restated an “overweight” rating and issued a $96.00 price target (up previously from $95.00) on shares of Avery Dennison Corp in a research note on Monday, May 1st. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Avery Dennison Corp has an average rating of “Hold” and a consensus price target of $82.60.

In other news, Director Anthony Anderson sold 950 shares of the firm’s stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $84.42, for a total transaction of $80,199.00. Following the completion of the transaction, the director now directly owns 7,492 shares of the company’s stock, valued at approximately $632,474.64. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Dean A. Scarborough sold 34,437 shares of the firm’s stock in a transaction that occurred on Thursday, March 9th. The stock was sold at an average price of $80.02, for a total transaction of $2,755,648.74. Following the transaction, the insider now directly owns 116,300 shares of the company’s stock, valued at $9,306,326. The disclosure for this sale can be found here. Over the last three months, insiders have sold 54,891 shares of company stock valued at $4,431,860. Corporate 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 segments include Label and Graphic Materials (LGM); Retail Branding and Information Solutions (RBIS), and Industrial and Healthcare Materials (IHM).

5 Day Chart for NYSE:AVY

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