Grandview Asset Management LLC purchased a new position in Avery Dennison Corp (NYSE:AVY) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 3,555 shares of the industrial products company’s stock, valued at approximately $319,000.
A number of other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc increased its stake in Avery Dennison by 0.5% in the 3rd quarter. Vanguard Group Inc now owns 9,807,709 shares of the industrial products company’s stock worth $1,062,666,000 after purchasing an additional 44,059 shares during the period. BlackRock Inc. increased its stake in Avery Dennison by 0.5% in the 3rd quarter. BlackRock Inc. now owns 6,460,278 shares of the industrial products company’s stock worth $699,971,000 after purchasing an additional 32,779 shares during the period. JPMorgan Chase & Co. increased its stake in Avery Dennison by 55.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,810,315 shares of the industrial products company’s stock worth $196,147,000 after purchasing an additional 648,126 shares during the period. Fiduciary Management Inc. WI increased its stake in Avery Dennison by 48.8% in the 3rd quarter. Fiduciary Management Inc. WI now owns 1,208,908 shares of the industrial products company’s stock worth $130,985,000 after purchasing an additional 396,245 shares during the period. Finally, Congress Asset Management Co. MA increased its stake in Avery Dennison by 0.4% in the 3rd quarter. Congress Asset Management Co. MA now owns 827,183 shares of the industrial products company’s stock worth $89,625,000 after purchasing an additional 3,073 shares during the period. 84.32% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts have commented on the company. Zacks Investment Research raised Avery Dennison from a “sell” rating to a “hold” rating in a research note on Wednesday, November 21st. BMO Capital Markets boosted their target price on Avery Dennison to $114.00 and gave the company a “market perform” rating in a research note on Monday, February 4th. UBS Group set a $125.00 target price on Avery Dennison and gave the company a “buy” rating in a research note on Friday, January 18th. ValuEngine cut Avery Dennison from a “hold” rating to a “sell” rating in a research note on Friday, October 26th. Finally, Barclays reduced their target price on Avery Dennison from $135.00 to $130.00 and set an “overweight” rating on the stock in a research note on Monday, October 29th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $119.50.
AVY opened at $102.82 on Monday. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.83 and a current ratio of 1.15. Avery Dennison Corp has a 52-week low of $82.89 and a 52-week high of $120.41. The company has a market cap of $8.92 billion, a PE ratio of 16.97, a price-to-earnings-growth ratio of 2.24 and a beta of 1.36.
Avery Dennison (NYSE:AVY) last posted its earnings results on Wednesday, January 30th. The industrial products company reported $1.52 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.50 by $0.02. Avery Dennison had a return on equity of 52.22% and a net margin of 6.53%. The firm had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.79 billion. During the same period in the previous year, the firm earned $1.33 earnings per share. The business’s revenue was up 1.9% compared to the same quarter last year. As a group, equities analysts anticipate that Avery Dennison Corp will post 6.56 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Tuesday, March 5th. This represents a $2.08 annualized dividend and a dividend yield of 2.02%. Avery Dennison’s dividend payout ratio (DPR) is presently 34.32%.
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About Avery Dennison
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. It also offers durable cast and reflective films.
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