Shaker Investments LLC OH purchased a new position in Avery Dennison Corporation (NYSE:AVY) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 23,480 shares of the industrial products company’s stock, valued at approximately $2,075,000. Avery Dennison Corporation makes up about 1.6% of Shaker Investments LLC OH’s portfolio, making the stock its 23rd largest position.

A number of other institutional investors have also bought and sold shares of the company. IFP Advisors Inc boosted its position in Avery Dennison Corporation by 3.1% in the second quarter. IFP Advisors Inc now owns 3,620 shares of the industrial products company’s stock worth $320,000 after buying an additional 108 shares during the last quarter. Eads & Heald Investment Counsel acquired a new position in Avery Dennison Corporation during the second quarter worth approximately $371,000. Daiwa Securities Group Inc. boosted its position in Avery Dennison Corporation by 14.6% in the second quarter. Daiwa Securities Group Inc. now owns 2,750 shares of the industrial products company’s stock worth $243,000 after buying an additional 350 shares during the last quarter. CIBC Asset Management Inc boosted its position in Avery Dennison Corporation by 0.5% in the second quarter. CIBC Asset Management Inc now owns 8,592 shares of the industrial products company’s stock worth $759,000 after buying an additional 39 shares during the last quarter. Finally, Janney Montgomery Scott LLC boosted its position in Avery Dennison Corporation by 0.5% in the second quarter. Janney Montgomery Scott LLC now owns 18,682 shares of the industrial products company’s stock worth $1,651,000 after buying an additional 95 shares during the last quarter. Institutional investors and hedge funds own 87.60% of the company’s stock.

Shares of Avery Dennison Corporation (NYSE AVY) opened at 93.05 on Monday. The firm has a market capitalization of $8.22 billion, a P/E ratio of 21.86 and a beta of 1.18. Avery Dennison Corporation has a 12 month low of $68.55 and a 12 month high of $96.70. The firm’s 50-day moving average is $90.28 and its 200 day moving average is $83.05.

Avery Dennison Corporation (NYSE:AVY) last released its earnings results on Tuesday, July 25th. The industrial products company reported $1.31 earnings per share for the quarter, beating the Zacks’ 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 firm had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same period in the prior year, the firm earned $1.09 EPS. The company’s revenue was up 5.7% compared to the same quarter last year. On average, equities research analysts anticipate that Avery Dennison Corporation will post $4.83 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders of record on Wednesday, September 6th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date is Friday, September 1st. Avery Dennison Corporation’s dividend payout ratio is currently 42.25%.

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AVY has been the subject of several research reports. Citigroup Inc. raised their price objective on shares of Avery Dennison Corporation from $106.00 to $108.00 and gave the stock a “buy” rating in a research report on Wednesday, July 26th. BidaskClub upgraded shares of Avery Dennison Corporation from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 28th. Zacks Investment Research downgraded shares of Avery Dennison Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, June 22nd. Bank of America Corporation upgraded shares of Avery Dennison Corporation from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $90.00 to $96.00 in a research report on Tuesday, June 20th. Finally, Aegis restated a “hold” rating on shares of Avery Dennison Corporation in a research report on Thursday, June 1st. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Avery Dennison Corporation presently has a consensus rating of “Buy” and an average target price of $91.67.

In other news, Director Patrick Siewert sold 10,000 shares of the stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $93.63, for a total transaction of $936,300.00. Following the completion of the transaction, the director now directly owns 10,519 shares of the company’s stock, valued at approximately $984,893.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Anthony Anderson sold 6,248 shares of the stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $85.15, for a total transaction of $532,017.20. Following the transaction, the director now directly owns 1,244 shares of the company’s stock, valued at $105,926.60. The disclosure for this sale can be found here. Insiders have sold a total of 22,198 shares of company stock valued at $1,971,016 over the last three months. Insiders own 1.40% of the company’s stock.

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 segments include Label and Graphic Materials (LGM); Retail Branding and Information Solutions (RBIS), and Industrial and Healthcare Materials (IHM).

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

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