Mandatum Life Insurance Co Ltd acquired a new position in shares of Avery Dennison Corporation (NYSE:AVY) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 5,616 shares of the company’s stock, valued at approximately $394,000.
A number of other large investors have also recently made changes to their positions in AVY. Sit Investment Associates Inc. increased its stake in shares of Avery Dennison Corporation by 18.2% in the third quarter. Sit Investment Associates Inc. now owns 1,300 shares of the company’s stock worth $101,000 after buying an additional 200 shares during the last quarter. Bronfman E.L. Rothschild L.P. increased its stake in shares of Avery Dennison Corporation by 3.5% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 1,406 shares of the company’s stock worth $109,000 after buying an additional 48 shares during the last quarter. Itau Unibanco Holding S.A. purchased a new stake in shares of Avery Dennison Corporation during the third quarter worth approximately $128,000. SRB Corp purchased a new stake in shares of Avery Dennison Corporation during the third quarter worth approximately $165,000. Finally, Whittier Trust Co. increased its stake in shares of Avery Dennison Corporation by 21.5% in the second quarter. Whittier Trust Co. now owns 2,357 shares of the company’s stock worth $176,000 after buying an additional 417 shares during the last quarter. Hedge funds and other institutional investors own 86.43% of the company’s stock.
Shares of Avery Dennison Corporation (NYSE:AVY) traded up 0.23% on Monday, hitting $79.45. 452,110 shares of the stock were exchanged. The firm’s 50-day moving average is $74.03 and its 200-day moving average is $74.74. Avery Dennison Corporation has a one year low of $62.57 and a one year high of $80.84. The company has a market cap of $7.16 billion, a P/E ratio of 22.47 and a beta of 1.12.
Avery Dennison Corporation (NYSE:AVY) last announced its quarterly earnings results on Wednesday, February 1st. The company reported $0.99 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.06. Avery Dennison Corporation had a net margin of 5.27% and a return on equity of 37.46%. The company had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the prior year, the business posted $0.85 EPS. Avery Dennison Corporation’s quarterly revenue was up 6.6% on a year-over-year basis. On average, equities analysts forecast that Avery Dennison Corporation will post $4.43 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 15th. Stockholders of record on Wednesday, March 1st will be paid a dividend of $0.41 per share. The ex-dividend date is Monday, February 27th. This represents a $1.64 annualized dividend and a dividend yield of 2.06%. Avery Dennison Corporation’s dividend payout ratio (DPR) is 46.46%.
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A number of equities research analysts recently commented on the stock. Zacks Investment Research upgraded shares of Avery Dennison Corporation from a “sell” rating to a “buy” rating and set a $89.00 price objective for the company in a research report on Friday, February 3rd. Citigroup Inc. upgraded shares of Avery Dennison Corporation from a “neutral” rating to a “buy” rating in a research report on Friday, January 6th. Bank of America Corporation upgraded shares of Avery Dennison Corporation from an “underperform” rating to a “neutral” rating in a research report on Wednesday, December 7th. J P Morgan Chase & Co upgraded shares of Avery Dennison Corporation from a “neutral” rating to an “overweight” rating and set a $78.00 price target for the company in a research report on Thursday, October 27th. They noted that the move was a valuation call. Finally, Aegis started coverage on shares of Avery Dennison Corporation in a research report on Monday, November 21st. They set a “hold” rating and a $75.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $79.29.
In other news, Director Julia A. Stewart sold 2,000 shares of the stock in a transaction on Monday, November 28th. The shares were sold at an average price of $72.65, for a total transaction of $145,300.00. Following the transaction, the director now owns 7,018 shares in the company, valued at approximately $509,857.70. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Dean A. Scarborough sold 28,734 shares of the stock in a transaction on Wednesday, November 30th. The stock was sold at an average price of $73.00, for a total transaction of $2,097,582.00. Following the transaction, the insider now owns 156,066 shares in the company, valued at approximately $11,392,818. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 315,376 shares of company stock worth $24,295,908. 2.70% of the stock is currently owned by company insiders.
About Avery Dennison Corporation
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 pressure-sensitive materials are sold to label printers and converters that convert the materials into labels and other products through embossing, printing, stamping and die-cutting.
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