Janney Montgomery Scott LLC Has $1.65 Million Stake in Avery Dennison Corporation (AVY)
Janney Montgomery Scott LLC boosted its position in Avery Dennison Corporation (NYSE:AVY) by 0.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,682 shares of the industrial products company’s stock after buying an additional 95 shares during the period. Janney Montgomery Scott LLC’s holdings in Avery Dennison Corporation were worth $1,651,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of AVY. American Beacon Advisors Inc. purchased a new stake in Avery Dennison Corporation during the first quarter worth $105,000. Van ECK Associates Corp raised its stake in Avery Dennison Corporation by 7.7% in the first quarter. Van ECK Associates Corp now owns 1,322 shares of the industrial products company’s stock worth $107,000 after buying an additional 94 shares in the last quarter. Bronfman E.L. Rothschild L.P. raised its stake in Avery Dennison Corporation by 21.1% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 1,737 shares of the industrial products company’s stock worth $140,000 after buying an additional 303 shares in the last quarter. Ameritas Investment Partners Inc. purchased a new stake in Avery Dennison Corporation during the first quarter worth $171,000. Finally, Mn Services Vermogensbeheer B.V. raised its stake in Avery Dennison Corporation by 4.7% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 2,373 shares of the industrial products company’s stock worth $179,000 after buying an additional 107 shares in the last quarter. Institutional investors own 87.60% of the company’s stock.
Shares of Avery Dennison Corporation (NYSE AVY) opened at 93.40 on Wednesday. The stock has a market capitalization of $8.26 billion, a price-to-earnings ratio of 21.94 and a beta of 1.18. Avery Dennison Corporation has a one year low of $68.55 and a one year high of $96.70. The firm has a 50-day moving average of $90.97 and a 200 day moving average of $83.28.
Avery Dennison Corporation (NYSE:AVY) last released its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.10. The company had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.61 billion. Avery Dennison Corporation had a net margin of 6.14% and a return on equity of 39.29%. The firm’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.09 EPS. On average, equities research analysts predict that Avery Dennison Corporation will post $4.83 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Wednesday, September 6th will be given a $0.45 dividend. The ex-dividend date is Friday, September 1st. This represents a $1.80 annualized dividend and a yield of 1.93%. Avery Dennison Corporation’s dividend payout ratio (DPR) is 42.25%.
AVY has been the subject of several research analyst reports. BidaskClub lowered shares of Avery Dennison Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 9th. KeyCorp restated a “hold” rating on shares of Avery Dennison Corporation in a report on Wednesday, April 26th. Barclays PLC restated an “overweight” rating and issued a $96.00 price objective (up from $95.00) on shares of Avery Dennison Corporation in a report on Monday, May 1st. Zacks Investment Research upgraded shares of Avery Dennison Corporation from a “hold” rating to a “buy” rating and set a $93.00 price objective for the company in a report on Monday, May 22nd. Finally, Aegis restated a “hold” rating on shares of Avery Dennison Corporation in a report on Thursday, June 1st. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $91.67.
In other Avery Dennison Corporation news, Director Patrick Siewert sold 10,000 shares of the business’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $93.63, for a total value of $936,300.00. Following the completion of the sale, 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 filing with the SEC, which is available through this link. Also, Director Anthony Anderson sold 950 shares of the business’s stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $84.42, for a total transaction of $80,199.00. Following the completion of the sale, the director now directly owns 7,492 shares of the company’s stock, valued at $632,474.64. The disclosure for this sale can be found here. Over the last three months, insiders sold 22,198 shares of company stock valued at $1,971,016. 1.40% of the stock is owned by corporate insiders.
Avery Dennison Corporation 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 segments include Label and Graphic Materials (LGM); Retail Branding and Information Solutions (RBIS), and Industrial and Healthcare Materials (IHM).
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