FMR LLC cut its stake in shares of Avery Dennison Corp (NYSE:AVY) by 27.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 523,730 shares of the industrial products company’s stock after selling 200,024 shares during the period. FMR LLC owned 0.58% of Avery Dennison Corp worth $36,777,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Baird Financial Group Inc. boosted its position in shares of Avery Dennison Corp by 0.8% in the fourth quarter. Baird Financial Group Inc. now owns 6,045 shares of the industrial products company’s stock valued at $424,000 after buying an additional 50 shares during the last quarter. Mandatum Life Insurance Co Ltd bought a new position in shares of Avery Dennison Corp during the fourth quarter valued at $394,000. Tredje AP fonden boosted its position in shares of Avery Dennison Corp by 1.0% in the fourth quarter. Tredje AP fonden now owns 18,084 shares of the industrial products company’s stock valued at $1,270,000 after buying an additional 184 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Avery Dennison Corp by 0.5% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,101 shares of the industrial products company’s stock valued at $358,000 after buying an additional 26 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. boosted its position in shares of Avery Dennison Corp by 3.4% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 5,641 shares of the industrial products company’s stock valued at $396,000 after buying an additional 184 shares during the last quarter. 86.43% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Avery Dennison Corp (NYSE:AVY) traded down 0.60% during midday trading on Friday, reaching $81.71. 877,525 shares of the company’s stock were exchanged. The firm has a 50-day moving average of $80.26 and a 200-day moving average of $75.62. Avery Dennison Corp has a 12-month low of $68.55 and a 12-month high of $82.39. The stock has a market capitalization of $7.20 billion, a P/E ratio of 23.08 and a beta of 1.12.
Avery Dennison Corp (NYSE:AVY) last posted its earnings results on Wednesday, February 1st. The industrial products company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.06. The firm earned $1.55 billion during the quarter, compared to analyst estimates of $1.50 billion. Avery Dennison Corp had a net margin of 5.27% and a return on equity of 37.46%. The business’s quarterly revenue was up 6.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.85 EPS. Analysts anticipate that Avery Dennison Corp will post $4.44 EPS for the current fiscal year.
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A number of equities analysts recently commented on the company. 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 report on Friday, February 3rd. Citigroup Inc raised shares of Avery Dennison Corp from a “neutral” rating to a “buy” rating in a research note on Friday, January 6th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $79.67.
In related news, Director Patrick Siewert sold 9,027 shares of the business’s stock in a transaction dated Thursday, February 16th. The shares were sold at an average price of $80.00, for a total value of $722,160.00. Following the sale, the director now directly owns 24,040 shares in the company, valued at approximately $1,923,200. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Anne Hill sold 19,504 shares of the company’s stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $81.83, for a total value of $1,596,012.32. Following the completion of the transaction, the vice president now directly owns 36,280 shares of the company’s stock, valued at $2,968,792.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 367,033 shares of company stock valued at $29,196,106. 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).
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