KAMES CAPITAL plc Takes $71.59 Million Position in Avery Dennison Corporation (AVY)

KAMES CAPITAL plc acquired a new stake in Avery Dennison Corporation (NYSE:AVY) in the fourth quarter, HoldingsChannel reports. The institutional investor acquired 623,194 shares of the industrial products company’s stock, valued at approximately $71,586,000. Avery Dennison makes up approximately 1.8% of KAMES CAPITAL plc’s portfolio, making the stock its 18th largest position.

Several other hedge funds have also made changes to their positions in the company. National Asset Management Inc. raised its stake in shares of Avery Dennison by 0.3% in the 2nd quarter. National Asset Management Inc. now owns 4,151 shares of the industrial products company’s stock valued at $369,000 after buying an additional 12 shares in the last quarter. Veritable L.P. raised its stake in shares of Avery Dennison by 0.6% in the 2nd quarter. Veritable L.P. now owns 2,777 shares of the industrial products company’s stock valued at $245,000 after buying an additional 16 shares in the last quarter. Thrivent Financial For Lutherans raised its stake in shares of Avery Dennison by 0.9% in the 2nd quarter. Thrivent Financial For Lutherans now owns 4,640 shares of the industrial products company’s stock valued at $413,000 after buying an additional 40 shares in the last quarter. Global Financial Private Capital LLC raised its stake in shares of Avery Dennison by 8.2% in the 2nd quarter. Global Financial Private Capital LLC now owns 4,546 shares of the industrial products company’s stock valued at $402,000 after buying an additional 343 shares in the last quarter. Finally, Cubist Systematic Strategies LLC raised its stake in shares of Avery Dennison by 19.7% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 2,843 shares of the industrial products company’s stock valued at $280,000 after buying an additional 468 shares in the last quarter. Institutional investors own 84.82% of the company’s stock.

Avery Dennison Corporation (NYSE AVY) traded up $0.98 on Friday, hitting $119.57. 324,200 shares of the stock traded hands, compared to its average volume of 478,925. The company has a current ratio of 1.13, a quick ratio of 0.82 and a debt-to-equity ratio of 1.14. Avery Dennison Corporation has a fifty-two week low of $71.39 and a fifty-two week high of $119.64. The company has a market cap of $10,540.00, a price-to-earnings ratio of 26.69, a price-to-earnings-growth ratio of 3.09 and a beta of 1.24.

Avery Dennison (NYSE:AVY) last posted its earnings results on Wednesday, October 25th. The industrial products company reported $1.26 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.21 by $0.05. Avery Dennison had a net margin of 6.27% and a return on equity of 40.52%. The business had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same quarter in the prior year, the firm earned $1.01 EPS. The firm’s quarterly revenue was up 11.3% compared to the same quarter last year. sell-side analysts predict that Avery Dennison Corporation will post 4.93 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 20th. Stockholders of record on Wednesday, December 6th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.51%. The ex-dividend date was Tuesday, December 5th. Avery Dennison’s payout ratio is 40.18%.

In other news, Director Peter K. Barker sold 2,000 shares of the company’s stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $114.76, for a total value of $229,520.00. Following the sale, the director now owns 26,703 shares of the company’s stock, valued at approximately $3,064,436.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Deon Stander sold 3,000 shares of the company’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $107.23, for a total transaction of $321,690.00. Following the completion of the sale, the vice president now directly owns 9,426 shares in the company, valued at approximately $1,010,749.98. The disclosure for this sale can be found here. In the last ninety days, insiders sold 154,604 shares of company stock worth $16,475,271. 1.40% of the stock is owned by insiders.

A number of equities analysts have recently issued reports on AVY shares. Zacks Investment Research upgraded shares of Avery Dennison from a “sell” rating to a “buy” rating and set a $117.00 price objective for the company in a research note on Friday, October 27th. Robert W. Baird restated a “buy” rating and issued a $115.00 price objective on shares of Avery Dennison in a research note on Friday, October 27th. KeyCorp restated a “hold” rating on shares of Avery Dennison in a research note on Monday, October 30th. Loop Capital started coverage on shares of Avery Dennison in a research note on Thursday, September 28th. They issued a “hold” rating and a $99.00 price objective for the company. Finally, JPMorgan Chase & Co. cut shares of Avery Dennison from an “overweight” rating to a “neutral” rating in a research note on Thursday, October 26th. Four investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $112.83.

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

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