Everence Capital Management Inc. Invests $290,000 in Avery Dennison Corp (AVY) Stock
Everence Capital Management Inc. bought a new stake in Avery Dennison Corp (NYSE:AVY) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,529 shares of the industrial products company’s stock, valued at approximately $290,000.
A number of other large investors have also bought and sold shares of the business. State Street Corp boosted its position in shares of Avery Dennison by 5.0% during the second quarter. State Street Corp now owns 4,776,961 shares of the industrial products company’s stock worth $422,140,000 after buying an additional 229,297 shares during the period. APG Asset Management N.V. boosted its position in shares of Avery Dennison by 125.4% during the fourth quarter. APG Asset Management N.V. now owns 1,145,053 shares of the industrial products company’s stock worth $109,528,000 after buying an additional 637,000 shares during the period. Westfield Capital Management Co. LP boosted its position in shares of Avery Dennison by 21.3% during the third quarter. Westfield Capital Management Co. LP now owns 911,591 shares of the industrial products company’s stock worth $89,646,000 after buying an additional 159,800 shares during the period. Skandinaviska Enskilda Banken AB publ boosted its position in shares of Avery Dennison by 15.3% during the third quarter. Skandinaviska Enskilda Banken AB publ now owns 856,936 shares of the industrial products company’s stock worth $84,271,000 after buying an additional 113,600 shares during the period. Finally, Congress Asset Management Co. MA boosted its position in shares of Avery Dennison by 1.1% during the fourth quarter. Congress Asset Management Co. MA now owns 837,546 shares of the industrial products company’s stock worth $96,201,000 after buying an additional 9,124 shares during the period. 85.88% of the stock is owned by hedge funds and other institutional investors.
Avery Dennison Corp (AVY) opened at $114.78 on Thursday. Avery Dennison Corp has a 52-week low of $78.47 and a 52-week high of $123.67. The company has a current ratio of 1.13, a quick ratio of 0.83 and a debt-to-equity ratio of 1.26. The company has a market capitalization of $10,057.27, a P/E ratio of 22.80, a P/E/G ratio of 2.78 and a beta of 1.20.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 21st. Investors of record on Wednesday, March 7th will be given a dividend of $0.45 per share. The ex-dividend date is Tuesday, March 6th. This represents a $1.80 annualized dividend and a yield of 1.57%. Avery Dennison’s dividend payout ratio (DPR) is presently 57.51%.
Several research analysts have recently weighed in on AVY shares. Zacks Investment Research cut Avery Dennison from a “buy” rating to a “hold” rating in a research report on Friday, January 5th. UBS Group started coverage on Avery Dennison in a research report on Thursday, January 18th. They set a “buy” rating and a $135.00 price objective for the company. Barclays upped their price objective on Avery Dennison from $105.00 to $120.00 and gave the stock an “overweight” rating in a research report on Monday, October 30th. JPMorgan Chase & Co. cut Avery Dennison from an “overweight” rating to a “neutral” rating in a research report on Thursday, October 26th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Avery Dennison in a research report on Monday, October 30th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Avery Dennison presently has a consensus rating of “Buy” and a consensus target price of $120.25.
In related news, Director Julia A. Stewart sold 4,000 shares of the stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $108.42, for a total transaction of $433,680.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Lori J. Bondar sold 10,855 shares of the stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $110.88, for a total value of $1,203,602.40. Following the transaction, the chief accounting officer now directly owns 18,556 shares of the company’s stock, valued at $2,057,489.28. The disclosure for this sale can be found here. Insiders have sold 16,855 shares of company stock valued at $1,866,802 over the last three months. Insiders own 1.40% of the company’s stock.
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Avery Dennison 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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