Cipher Capital LP lessened its stake in Avery Dennison Corp (NYSE:AVY) by 26.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,374 shares of the industrial products company’s stock after selling 1,894 shares during the quarter. Cipher Capital LP’s holdings in Avery Dennison were worth $483,000 as of its most recent filing with the SEC.
Other institutional investors also recently modified their holdings of the company. Wealthcare Advisory Partners LLC raised its stake in shares of Avery Dennison by 90.7% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 286 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 136 shares in the last quarter. Penserra Capital Management LLC acquired a new stake in shares of Avery Dennison in the 4th quarter valued at about $40,000. Bremer Trust National Association acquired a new stake in shares of Avery Dennison in the 4th quarter valued at about $42,000. Ipswich Investment Management Co. Inc. acquired a new stake in shares of Avery Dennison in the 4th quarter valued at about $49,000. Finally, Bessemer Group Inc. raised its stake in shares of Avery Dennison by 199.2% in the 4th quarter. Bessemer Group Inc. now owns 754 shares of the industrial products company’s stock valued at $68,000 after purchasing an additional 502 shares in the last quarter. Institutional investors and hedge funds own 87.90% of the company’s stock.
In other Avery Dennison news, Director Peter K. Barker sold 2,000 shares of the company’s stock in a transaction dated Tuesday, February 5th. The shares were sold at an average price of $104.51, for a total value of $209,020.00. Following the completion of the transaction, the director now owns 29,769 shares in the company, valued at approximately $3,111,158.19. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Dean A. Scarborough sold 100,000 shares of the company’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $109.17, for a total transaction of $10,917,000.00. Following the completion of the transaction, the director now owns 51,183 shares of the company’s stock, valued at approximately $5,587,648.11. The disclosure for this sale can be found here. In the last quarter, insiders have sold 235,664 shares of company stock worth $25,593,024. 1.30% of the stock is owned by company insiders.
Avery Dennison (NYSE:AVY) last released its quarterly earnings data on Wednesday, January 30th. The industrial products company reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.02. The firm had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.79 billion. Avery Dennison had a net margin of 6.53% and a return on equity of 52.22%. Avery Dennison’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.33 earnings per share. Sell-side analysts predict that Avery Dennison Corp will post 6.57 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, March 6th were paid a dividend of $0.52 per share. The ex-dividend date was Tuesday, March 5th. This represents a $2.08 annualized dividend and a yield of 1.90%. Avery Dennison’s dividend payout ratio (DPR) is 34.32%.
A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of Avery Dennison from a “hold” rating to a “sell” rating in a research note on Wednesday, November 28th. Loop Capital lowered shares of Avery Dennison from a “buy” rating to a “hold” rating in a research note on Wednesday, March 20th. They noted that the move was a valuation call. Citigroup cut their target price on shares of Avery Dennison from $122.00 to $110.00 and set a “buy” rating on the stock in a research note on Monday, January 7th. ValuEngine upgraded shares of Avery Dennison from a “sell” rating to a “hold” rating in a research note on Wednesday, December 5th. Finally, UBS Group set a $125.00 price objective on shares of Avery Dennison and gave the stock a “buy” rating in a research note on Friday, January 18th. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $119.50.
Avery Dennison Company 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. It also offers durable cast and reflective films.
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