Everence Capital Management Inc. increased its holdings in shares of Avery Dennison Corp (NYSE:AVY) by 108.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,268 shares of the industrial products company’s stock after acquiring an additional 2,739 shares during the quarter. Everence Capital Management Inc.’s holdings in Avery Dennison were worth $595,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Outlook Wealth Advisors LLC lifted its position in shares of Avery Dennison by 411.2% during the 1st quarter. Outlook Wealth Advisors LLC now owns 2,060 shares of the industrial products company’s stock valued at $233,000 after acquiring an additional 1,657 shares during the period. Toronto Dominion Bank lifted its position in shares of Avery Dennison by 14.7% during the 1st quarter. Toronto Dominion Bank now owns 55,071 shares of the industrial products company’s stock worth $6,221,000 after buying an additional 7,056 shares during the last quarter. Mn Services Vermogensbeheer B.V. lifted its position in shares of Avery Dennison by 1.0% during the 1st quarter. Mn Services Vermogensbeheer B.V. now owns 48,267 shares of the industrial products company’s stock worth $5,454,000 after buying an additional 500 shares during the last quarter. Nissay Asset Management Corp Japan ADV lifted its position in shares of Avery Dennison by 2.6% during the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 7,727 shares of the industrial products company’s stock worth $873,000 after buying an additional 198 shares during the last quarter. Finally, California Public Employees Retirement System lifted its position in shares of Avery Dennison by 16.9% during the 1st quarter. California Public Employees Retirement System now owns 626,495 shares of the industrial products company’s stock worth $70,794,000 after buying an additional 90,711 shares during the last quarter. 90.24% of the stock is currently owned by institutional investors and hedge funds.

In other news, Director Dean A. Scarborough sold 15,420 shares of the stock in a transaction dated Thursday, February 28th. The stock was sold at an average price of $109.07, for a total value of $1,681,859.40. Following the completion of the sale, the director now owns 29,151 shares of the company’s stock, valued at $3,179,499.57. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Deon Stander sold 7,500 shares of the stock in a transaction dated Thursday, February 28th. The shares were sold at an average price of $109.51, for a total value of $821,325.00. Following the completion of the sale, the vice president now directly owns 42,702 shares of the company’s stock, valued at approximately $4,676,296.02. The disclosure for this sale can be found here. In the last three months, insiders sold 238,328 shares of company stock valued at $25,927,220. Insiders own 1.30% of the company’s stock.

A number of brokerages have issued reports on AVY. KeyCorp reaffirmed a “hold” rating on shares of Avery Dennison in a report on Wednesday, April 24th. JPMorgan Chase & Co. cut Avery Dennison from a “neutral” rating to an “underweight” rating and set a $105.00 target price for the company. in a report on Thursday, April 18th. Zacks Investment Research cut Avery Dennison from a “buy” rating to a “hold” rating in a report on Monday, April 8th. Loop Capital cut Avery Dennison from a “buy” rating to a “hold” rating in a report on Wednesday, March 20th. They noted that the move was a valuation call. Finally, BMO Capital Markets upped their target price on Avery Dennison to $114.00 and gave the stock a “market perform” rating in a report on Monday, February 4th. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. Avery Dennison presently has a consensus rating of “Hold” and an average price target of $118.44.

Shares of AVY stock opened at $103.03 on Thursday. The stock has a market capitalization of $8.76 billion, a PE ratio of 17.00, a P/E/G ratio of 1.92 and a beta of 1.35. The company has a quick ratio of 0.80, a current ratio of 1.14 and a debt-to-equity ratio of 1.77. Avery Dennison Corp has a 1-year low of $82.89 and a 1-year high of $117.00.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings results on Wednesday, April 24th. The industrial products company reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.02. The company had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.77 billion. Avery Dennison had a return on equity of 53.28% and a net margin of 2.74%. The business’s quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.44 earnings per share. As a group, research analysts predict that Avery Dennison Corp will post 6.55 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 19th. Stockholders of record on Wednesday, June 5th will be paid a $0.58 dividend. This is a boost from Avery Dennison’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $2.32 annualized dividend and a dividend yield of 2.25%. Avery Dennison’s dividend payout ratio is presently 34.32%.

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Avery Dennison Profile

Avery Dennison Corporation produces and sells pressure-sensitive materials worldwide. The company's Label and Graphic Materials segment offers pressure-sensitive label and packaging materials; and graphics and reflective products under the Fasson, JAC, Avery Dennison, and Mactac brands, as well as durable cast and reflective films.

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

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