Smithfield Trust Co. Sells 117 Shares of Avery Dennison Corp. (AVY)
Smithfield Trust Co. cut its stake in shares of Avery Dennison Corp. (NYSE:AVY) by 3.3% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,425 shares of the company’s stock after selling 117 shares during the period. Smithfield Trust Co.’s holdings in Avery Dennison Corp. were worth $256,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in AVY. Springbok Capital Management LLC bought a new stake in shares of Avery Dennison Corp. during the first quarter valued at about $136,000. Financial Architects Inc bought a new stake in shares of Avery Dennison Corp. during the second quarter valued at about $169,000. Whittier Trust Co. boosted its stake in shares of Avery Dennison Corp. by 21.5% in the second quarter. Whittier Trust Co. now owns 2,357 shares of the company’s stock valued at $176,000 after buying an additional 417 shares during the last quarter. Creative Planning boosted its stake in shares of Avery Dennison Corp. by 62.0% in the second quarter. Creative Planning now owns 2,578 shares of the company’s stock valued at $193,000 after buying an additional 987 shares during the last quarter. Finally, Fairfield Bush & CO. bought a new stake in shares of Avery Dennison Corp. during the first quarter valued at about $216,000. Institutional investors and hedge funds own 89.41% of the company’s stock.
Avery Dennison Corp. (NYSE:AVY) traded up 0.55% during mid-day trading on Wednesday, hitting $76.86. The stock had a trading volume of 220,859 shares. The company has a 50 day moving average price of $77.02 and a 200 day moving average price of $75.44. The stock has a market cap of $6.83 billion, a P/E ratio of 22.91 and a beta of 0.92. Avery Dennison Corp. has a one year low of $57.06 and a one year high of $79.27.
Avery Dennison Corp. (NYSE:AVY) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $1.09 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.01 by $0.08. Avery Dennison Corp. had a net margin of 5.18% and a return on equity of 34.82%. The company earned $1.54 billion during the quarter, compared to analysts’ expectations of $1.54 billion. During the same period in the previous year, the company earned $0.91 EPS. The business’s quarterly revenue was up 1.7% compared to the same quarter last year. On average, equities analysts anticipate that Avery Dennison Corp. will post $3.94 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 21st. Stockholders of record on Wednesday, September 7th were paid a dividend of $0.41 per share. The ex-dividend date of this dividend was Friday, September 2nd. This represents a $1.64 annualized dividend and a dividend yield of 2.15%. Avery Dennison Corp.’s dividend payout ratio is presently 48.81%.
Several brokerages have recently issued reports on AVY. Zacks Investment Research upgraded Avery Dennison Corp. from a “sell” rating to a “hold” rating and set a $88.00 price objective on the stock in a research note on Thursday, July 28th. JPMorgan Chase & Co. raised their price target on Avery Dennison Corp. from $78.00 to $80.00 and gave the company a “neutral” rating in a research note on Wednesday, July 27th. Finally, Bank of America Corp. cut Avery Dennison Corp. from a “buy” rating to an “underperform” rating and set a $75.00 price target on the stock. in a research note on Friday, July 1st. One analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. Avery Dennison Corp. presently has a consensus rating of “Hold” and an average target price of $80.00.
In other news, VP Anne Hill sold 11,567 shares of the business’s stock in a transaction on Friday, August 12th. The shares were sold at an average price of $78.10, for a total transaction of $903,382.70. Following the completion of the sale, the vice president now directly owns 36,280 shares of the company’s stock, valued at approximately $2,833,468. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Susan C. Miller sold 2,000 shares of the business’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $77.94, for a total transaction of $155,880.00. Following the sale, the vice president now directly owns 8,518 shares of the company’s stock, valued at $663,892.92. The disclosure for this sale can be found here. Insiders own 2.70% of the company’s stock.
Avery Dennison Corp. 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 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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