Avery Dennison Corp (NYSE:AVY) Shares Bought by IFM Investors Pty Ltd

IFM Investors Pty Ltd grew its holdings in shares of Avery Dennison Corp (NYSE:AVY) by 31.6% during the 3rd quarter, HoldingsChannel reports. The firm owned 9,540 shares of the industrial products company’s stock after buying an additional 2,293 shares during the period. IFM Investors Pty Ltd’s holdings in Avery Dennison were worth $1,083,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. AdvisorNet Financial Inc acquired a new stake in Avery Dennison during the 3rd quarter worth $28,000. TRUE Private Wealth Advisors acquired a new stake in Avery Dennison during the 2nd quarter worth $40,000. Amica Retiree Medical Trust acquired a new stake in Avery Dennison during the 2nd quarter worth $44,000. CSat Investment Advisory L.P. boosted its stake in Avery Dennison by 57.3% during the 2nd quarter. CSat Investment Advisory L.P. now owns 461 shares of the industrial products company’s stock worth $53,000 after purchasing an additional 168 shares during the last quarter. Finally, Kavar Capital Partners LLC acquired a new stake in Avery Dennison during the 2nd quarter worth $55,000. 88.37% of the stock is currently owned by institutional investors.

AVY has been the topic of several recent research reports. ValuEngine raised shares of Avery Dennison from a “sell” rating to a “hold” rating in a research note on Tuesday, November 5th. JPMorgan Chase & Co. lifted their price target on Avery Dennison from $105.00 to $111.00 and gave the stock an “underweight” rating in a report on Wednesday, July 24th. Robert W. Baird lifted their price target on Avery Dennison from $125.00 to $140.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Citigroup lowered Avery Dennison from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $132.00 to $136.00 in a report on Thursday, October 24th. Finally, Bank of America upgraded Avery Dennison from a “neutral” rating to a “buy” rating and set a $130.00 price target on the stock in a report on Friday, September 13th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. Avery Dennison currently has a consensus rating of “Hold” and an average target price of $126.00.

In related news, Director Anthony Anderson sold 2,150 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $114.54, for a total value of $246,261.00. Following the sale, the director now directly owns 2,862 shares in the company, valued at approximately $327,813.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Lori J. Bondar sold 2,600 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $115.90, for a total transaction of $301,340.00. Following the completion of the sale, the vice president now owns 20,028 shares in the company, valued at $2,321,245.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,781 shares of company stock worth $2,418,877. 1.30% of the stock is owned by insiders.

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Shares of NYSE AVY traded up $1.16 during trading on Friday, hitting $133.83. 408,045 shares of the company were exchanged, compared to its average volume of 583,428. Avery Dennison Corp has a 12-month low of $82.89 and a 12-month high of $133.88. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.74 and a current ratio of 1.03. The company has a fifty day moving average price of $118.55 and a 200-day moving average price of $113.24. The firm has a market capitalization of $11.13 billion, a PE ratio of 22.08, a P/E/G ratio of 2.47 and a beta of 1.32.

Avery Dennison (NYSE:AVY) last posted its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.61 by $0.05. The business had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.75 billion. Avery Dennison had a return on equity of 53.79% and a net margin of 3.37%. The company’s quarterly revenue was up .0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.45 EPS. Research analysts anticipate that Avery Dennison Corp will post 6.55 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be issued a $0.58 dividend. The ex-dividend date is Tuesday, December 3rd. This represents a $2.32 annualized dividend and a yield of 1.73%. Avery Dennison’s dividend payout ratio (DPR) is currently 38.28%.

Avery Dennison Company 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, as well as durable cast and reflective films.

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

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