WBI Investments Inc. lifted its stake in shares of Avery Dennison Corporation (NYSE:AVY) by 132.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 249,323 shares of the industrial products company’s stock after acquiring an additional 142,169 shares during the quarter. Avery Dennison Corporation makes up approximately 1.0% of WBI Investments Inc.’s holdings, making the stock its 24th biggest holding. WBI Investments Inc. owned about 0.28% of Avery Dennison Corporation worth $22,033,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of AVY. American Beacon Advisors Inc. bought a new position in shares of Avery Dennison Corporation during the first quarter valued at approximately $105,000. Van ECK Associates Corp boosted its stake in shares of Avery Dennison Corporation by 7.7% during the first quarter. Van ECK Associates Corp now owns 1,322 shares of the industrial products company’s stock valued at $107,000 after purchasing an additional 94 shares in the last quarter. Bronfman E.L. Rothschild L.P. boosted its stake in shares of Avery Dennison Corporation by 21.1% during the first quarter. Bronfman E.L. Rothschild L.P. now owns 1,737 shares of the industrial products company’s stock valued at $140,000 after purchasing an additional 303 shares in the last quarter. Pacad Investment Ltd. bought a new position in shares of Avery Dennison Corporation during the second quarter valued at approximately $141,000. Finally, Ameritas Investment Partners Inc. bought a new position in shares of Avery Dennison Corporation during the first quarter valued at approximately $171,000. 87.76% of the stock is currently owned by institutional investors and hedge funds.
Shares of Avery Dennison Corporation (NYSE:AVY) traded up 1.00% during midday trading on Tuesday, reaching $95.12. 138,444 shares of the company’s stock traded hands. The stock has a market capitalization of $8.41 billion, a P/E ratio of 22.34 and a beta of 1.18. Avery Dennison Corporation has a 1-year low of $68.55 and a 1-year high of $96.70. The firm’s 50-day moving average price is $93.25 and its 200 day moving average price is $86.30.
Avery Dennison Corporation (NYSE:AVY) last posted its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $1.31 EPS for the quarter, topping the consensus estimate of $1.21 by $0.10. Avery Dennison Corporation had a net margin of 6.14% and a return on equity of 39.29%. The company had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.61 billion. During the same quarter in the previous year, the business posted $1.09 EPS. The firm’s revenue was up 5.7% on a year-over-year basis. On average, equities analysts predict that Avery Dennison Corporation will post $4.82 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Wednesday, September 6th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.91%. The ex-dividend date is Friday, September 1st. Avery Dennison Corporation’s dividend payout ratio (DPR) is presently 42.25%.
AVY has been the topic of a number of recent research reports. Citigroup Inc. increased their price objective on shares of Avery Dennison Corporation from $106.00 to $108.00 and gave the company a “buy” rating in a research note on Wednesday, July 26th. Zacks Investment Research upgraded shares of Avery Dennison Corporation from a “hold” rating to a “buy” rating and set a $94.00 price objective on the stock in a research note on Monday, June 5th. Bank of America Corporation upgraded shares of Avery Dennison Corporation from a “neutral” rating to a “buy” rating and increased their price objective for the company from $90.00 to $96.00 in a research note on Tuesday, June 20th. BidaskClub upgraded shares of Avery Dennison Corporation from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, June 28th. Finally, Robert W. Baird reiterated a “buy” rating and set a $100.00 price objective on shares of Avery Dennison Corporation in a research note on Friday, September 1st. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $92.86.
In other Avery Dennison Corporation news, Director David E. I. Pyott sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $94.00, for a total transaction of $188,000.00. Following the completion of the transaction, the director now owns 16,601 shares in the company, valued at approximately $1,560,494. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Patrick Siewert sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $93.63, for a total transaction of $936,300.00. Following the transaction, the director now owns 10,519 shares of the company’s stock, valued at approximately $984,893.97. The disclosure for this sale can be found here. Insiders have sold a total of 12,298 shares of company stock valued at $1,152,312 in the last quarter. 1.40% of the stock is currently owned by company insiders.
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Avery Dennison Corporation 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 segments include Label and Graphic Materials (LGM); Retail Branding and Information Solutions (RBIS), and Industrial and Healthcare Materials (IHM).
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