First Citizens Bank & Trust Co. Has $2.05 Million Position in Avery Dennison Corp (NYSE:AVY)

First Citizens Bank & Trust Co. raised its holdings in shares of Avery Dennison Corp (NYSE:AVY) by 112.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,865 shares of the industrial products company’s stock after acquiring an additional 9,438 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Avery Dennison were worth $2,052,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Avery Dennison by 2.3% during the 2nd quarter. Vanguard Group Inc. now owns 9,196,133 shares of the industrial products company’s stock worth $812,662,000 after acquiring an additional 204,239 shares in the last quarter. State Street Corp grew its stake in shares of Avery Dennison by 5.0% during the 2nd quarter. State Street Corp now owns 4,776,961 shares of the industrial products company’s stock worth $422,140,000 after acquiring an additional 229,297 shares in the last quarter. Wells Fargo & Company MN grew its stake in shares of Avery Dennison by 1.7% during the 2nd quarter. Wells Fargo & Company MN now owns 1,013,602 shares of the industrial products company’s stock worth $89,571,000 after acquiring an additional 17,094 shares in the last quarter. Westfield Capital Management Co. LP grew its stake in shares of Avery Dennison by 21.3% during the 3rd quarter. Westfield Capital Management Co. LP now owns 911,591 shares of the industrial products company’s stock worth $89,646,000 after acquiring an additional 159,800 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ grew its stake in shares of Avery Dennison by 15.3% during the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 856,936 shares of the industrial products company’s stock worth $84,271,000 after acquiring an additional 113,600 shares in the last quarter. 85.48% of the stock is owned by institutional investors.

AVY has been the subject of several research reports. Zacks Investment Research cut shares of Avery Dennison from a “hold” rating to a “sell” rating in a research note on Tuesday, October 17th. JPMorgan Chase & Co. cut shares of Avery Dennison from an “overweight” rating to a “neutral” rating in a research note on Thursday, October 26th. Loop Capital raised their price target on shares of Avery Dennison from $99.00 to $106.00 and gave the stock a “hold” rating in a research note on Thursday, October 26th. Robert W. Baird reissued a “buy” rating and issued a $115.00 target price on shares of Avery Dennison in a research note on Friday, October 27th. Finally, KeyCorp reissued a “hold” rating on shares of Avery Dennison in a research note on Monday, October 30th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $120.75.

In other Avery Dennison news, VP Deon Stander sold 3,000 shares of the firm’s stock in a transaction on 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 owns 9,426 shares of the company’s stock, valued at approximately $1,010,749.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Julia A. Stewart sold 4,000 shares of Avery Dennison stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $108.42, for a total value of $433,680.00. The disclosure for this sale can be found here. Insiders have sold a total of 26,255 shares of company stock valued at $2,877,388 in the last ninety days. Insiders own 1.40% of the company’s stock.

Avery Dennison Corp (NYSE AVY) traded down $2.73 during trading hours on Friday, hitting $117.63. 923,292 shares of the company traded hands, compared to its average volume of 644,078. Avery Dennison Corp has a twelve month low of $78.17 and a twelve month high of $123.67. The company has a quick ratio of 0.82, a current ratio of 1.13 and a debt-to-equity ratio of 1.26. The company has a market capitalization of $10,800.30 and a PE ratio of 37.58.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings results on Wednesday, January 31st. The industrial products company reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.08. Avery Dennison had a return on equity of 42.26% and a net margin of 4.26%. The business had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.70 billion. During the same quarter last year, the firm posted $0.99 EPS. The company’s quarterly revenue was up 11.9% on a year-over-year basis. research analysts predict that Avery Dennison Corp will post 5.82 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 21st. Shareholders of record on Wednesday, March 7th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.53%. The ex-dividend date is Tuesday, March 6th. Avery Dennison’s dividend payout ratio is 57.51%.

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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).

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

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