IFM Investors Pty Ltd Boosts Position in Avery Dennison Corp (AVY)

IFM Investors Pty Ltd increased its holdings in Avery Dennison Corp (NYSE:AVY) by 16.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,265 shares of the industrial products company’s stock after buying an additional 727 shares during the quarter. IFM Investors Pty Ltd’s holdings in Avery Dennison were worth $570,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its holdings in shares of Avery Dennison by 3.8% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 12,435 shares of the industrial products company’s stock worth $1,270,000 after buying an additional 460 shares during the last quarter. Private Trust Co. NA boosted its holdings in shares of Avery Dennison by 5.1% in the second quarter. Private Trust Co. NA now owns 10,365 shares of the industrial products company’s stock worth $1,058,000 after buying an additional 500 shares during the last quarter. Dynamic Technology Lab Private Ltd boosted its holdings in shares of Avery Dennison by 17.5% in the second quarter. Dynamic Technology Lab Private Ltd now owns 3,409 shares of the industrial products company’s stock worth $348,000 after buying an additional 508 shares during the last quarter. Metropolitan Life Insurance Co. NY boosted its holdings in shares of Avery Dennison by 3.0% in the second quarter. Metropolitan Life Insurance Co. NY now owns 17,609 shares of the industrial products company’s stock worth $1,798,000 after buying an additional 511 shares during the last quarter. Finally, Janney Montgomery Scott LLC boosted its holdings in shares of Avery Dennison by 2.5% in the second quarter. Janney Montgomery Scott LLC now owns 22,174 shares of the industrial products company’s stock worth $2,264,000 after buying an additional 534 shares during the last quarter. 84.09% of the stock is currently owned by institutional investors.

In other news, Director Anthony Anderson sold 1,275 shares of the business’s stock in a transaction on Friday, September 7th. The shares were sold at an average price of $104.75, for a total value of $133,556.25. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.30% of the stock is owned by insiders.

Shares of NYSE:AVY opened at $90.72 on Thursday. The company has a current ratio of 1.00, a quick ratio of 0.71 and a debt-to-equity ratio of 1.24. Avery Dennison Corp has a 1-year low of $86.06 and a 1-year high of $123.67. The company has a market cap of $7.92 billion, a price-to-earnings ratio of 18.14, a PEG ratio of 2.14 and a beta of 1.26.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings results on Tuesday, October 23rd. The industrial products company reported $1.45 earnings per share for the quarter, missing the consensus estimate of $1.47 by ($0.02). Avery Dennison had a net margin of 4.36% and a return on equity of 49.86%. The firm had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.75 billion. During the same period in the prior year, the firm earned $1.26 EPS. Avery Dennison’s revenue for the quarter was up 4.8% compared to the same quarter last year. On average, equities research analysts predict that Avery Dennison Corp will post 6.04 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 19th. Shareholders of record on Wednesday, December 5th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 2.29%. The ex-dividend date is Tuesday, December 4th. Avery Dennison’s dividend payout ratio is currently 41.60%.

AVY has been the topic of several analyst reports. JPMorgan Chase & Co. raised shares of Avery Dennison from a “neutral” rating to an “overweight” rating and lowered their price target for the company from $110.00 to $105.00 in a report on Wednesday, October 24th. Zacks Investment Research downgraded shares of Avery Dennison from a “hold” rating to a “sell” rating in a report on Friday, October 5th. Citigroup lowered their price target on shares of Avery Dennison from $130.00 to $128.00 and set a “buy” rating on the stock in a report on Thursday, October 11th. Loop Capital raised shares of Avery Dennison from a “hold” rating to a “buy” rating and set a $124.00 price target on the stock in a report on Thursday, September 13th. Finally, Bank of America lifted their price target on shares of Avery Dennison from $114.00 to $126.00 and gave the company a “buy” rating in a report on Wednesday, July 25th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $120.25.

Avery Dennison Profile

Avery Dennison Corporation produces and sells pressure-sensitive materials worldwide. The company's Label and Graphic Materials segment offers pressure-sensitive label and packaging materials; and graphics and reflective products under the Fasson, JAC, Avery Dennison, and Mactac brands. It also offers durable cast and reflective films.

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

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