Bp Plc continued to hold its position in shares of Avery Dennison Corporation (NYSE:AVY) during the second quarter, Holdings Channel reports. The fund owned 12,000 shares of the industrial products company’s stock at the end of the second quarter. Bp Plc’s holdings in Avery Dennison Corporation were worth $1,060,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. BlackRock Inc. boosted its position in shares of Avery Dennison Corporation by 3,215.2% in the first quarter. BlackRock Inc. now owns 6,908,540 shares of the industrial products company’s stock valued at $556,829,000 after buying an additional 6,700,152 shares in the last quarter. State Street Corp boosted its position in shares of Avery Dennison Corporation by 0.4% in the first quarter. State Street Corp now owns 4,547,664 shares of the industrial products company’s stock valued at $366,525,000 after buying an additional 19,238 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Avery Dennison Corporation by 14.9% in the first quarter. Bank of New York Mellon Corp now owns 1,829,372 shares of the industrial products company’s stock valued at $147,448,000 after buying an additional 237,829 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Avery Dennison Corporation by 28.1% in the first quarter. Victory Capital Management Inc. now owns 1,597,356 shares of the industrial products company’s stock valued at $128,748,000 after buying an additional 350,792 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Avery Dennison Corporation by 10.4% in the first quarter. Geode Capital Management LLC now owns 1,004,783 shares of the industrial products company’s stock valued at $80,884,000 after buying an additional 94,645 shares in the last quarter. 87.60% of the stock is owned by hedge funds and other institutional investors.

Avery Dennison Corporation (AVY) opened at 93.02 on Friday. Avery Dennison Corporation has a 52-week low of $68.55 and a 52-week high of $96.70. The firm’s 50-day moving average price is $91.80 and its 200 day moving average price is $84.00. The stock has a market cap of $8.22 billion, a P/E ratio of 21.85 and a beta of 1.18.

Avery Dennison Corporation (NYSE:AVY) last announced its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.10. Avery Dennison Corporation had a return on equity of 39.29% and a net margin of 6.14%. The company had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter in the prior year, the firm earned $1.09 EPS. The company’s quarterly revenue was up 5.7% compared to the same quarter last year. Equities analysts predict that Avery Dennison Corporation will post $4.83 earnings per share for the current year.

The business also recently disclosed 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. The ex-dividend date is Friday, September 1st. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.94%. Avery Dennison Corporation’s dividend payout ratio (DPR) is presently 42.25%.

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AVY has been the subject of several research reports. BidaskClub cut Avery Dennison Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 9th. Zacks Investment Research raised Avery Dennison Corporation from a “hold” rating to a “buy” rating and set a $94.00 price objective for the company in a report on Monday, June 5th. Barclays PLC reaffirmed an “overweight” rating and set a $96.00 price objective (up from $95.00) on shares of Avery Dennison Corporation in a report on Monday, May 1st. KeyCorp reaffirmed a “hold” rating on shares of Avery Dennison Corporation in a report on Wednesday, April 26th. Finally, Citigroup Inc. lifted their price objective on Avery Dennison Corporation from $106.00 to $108.00 and gave the stock a “buy” rating in a report on Wednesday, July 26th. Three 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 stock. Avery Dennison Corporation currently has an average rating of “Buy” and an average target price of $91.67.

In other news, Director Anthony Anderson sold 950 shares of the stock in a transaction on Tuesday, May 16th. The stock was 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 owns 7,492 shares in the company, valued at approximately $632,474.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Patrick Siewert sold 10,000 shares of the stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $93.63, for a total value of $936,300.00. Following the sale, the director now owns 10,519 shares of the company’s stock, valued at approximately $984,893.97. 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 in the last quarter. 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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