361 Capital LLC Increases Position in Avery Dennison Corporation (AVY)

361 Capital LLC boosted its stake in Avery Dennison Corporation (NYSE:AVY) by 32.9% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 85,550 shares of the industrial products company’s stock after buying an additional 21,201 shares during the period. Avery Dennison Corporation makes up 1.3% of 361 Capital LLC’s portfolio, making the stock its 27th largest holding. 361 Capital LLC owned 0.10% of Avery Dennison Corporation worth $7,560,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. UBS Asset Management Americas Inc. grew its position in shares of Avery Dennison Corporation by 16.0% during the 1st quarter. UBS Asset Management Americas Inc. now owns 475,128 shares of the industrial products company’s stock worth $38,295,000 after purchasing an additional 65,645 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of Avery Dennison Corporation by 8.4% during the 1st quarter. Ameriprise Financial Inc. now owns 150,515 shares of the industrial products company’s stock worth $12,131,000 after acquiring an additional 11,606 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in shares of Avery Dennison Corporation by 11.5% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 6,288 shares of the industrial products company’s stock worth $507,000 after acquiring an additional 647 shares in the last quarter. Ameritas Investment Partners Inc. acquired a new stake in shares of Avery Dennison Corporation during the 1st quarter worth approximately $171,000. Finally, Mason Street Advisors LLC boosted its position in shares of Avery Dennison Corporation by 1.5% during the 1st quarter. Mason Street Advisors LLC now owns 12,359 shares of the industrial products company’s stock worth $996,000 after acquiring an additional 186 shares in the last quarter. Institutional investors and hedge funds own 86.65% of the company’s stock.

AVY has been the topic of several analyst reports. Robert W. Baird reiterated a “buy” rating and set a $100.00 price target on shares of Avery Dennison Corporation in a research report on Friday, September 1st. KeyCorp reaffirmed a “hold” rating on shares of Avery Dennison Corporation in a research note on Friday, September 22nd. Loop Capital began coverage on shares of Avery Dennison Corporation in a research note on Thursday, September 28th. They set a “hold” rating and a $99.00 price target for the company. Bank of America Corporation raised shares of Avery Dennison Corporation from a “neutral” rating to a “buy” rating and raised their price target for the company from $90.00 to $96.00 in a research note on Tuesday, June 20th. Finally, Citigroup Inc. raised their price target on shares of Avery Dennison Corporation from $106.00 to $108.00 and gave the company a “buy” rating in a research note on Wednesday, July 26th. Four investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $93.14.

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Avery Dennison Corporation (AVY) traded up 0.50% during mid-day trading on Monday, hitting $100.84. 97,498 shares of the stock traded hands. Avery Dennison Corporation has a 1-year low of $68.55 and a 1-year high of $101.49. The stock has a market cap of $8.91 billion, a price-to-earnings ratio of 23.69 and a beta of 1.19. The company’s 50 day moving average price is $96.21 and its 200-day moving average price is $88.70.

Avery Dennison Corporation (NYSE:AVY) last issued its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $1.31 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.21 by $0.10. Avery Dennison Corporation had a net margin of 6.14% and a return on equity of 39.29%. The firm had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.61 billion. During the same quarter in the prior year, the business earned $1.09 EPS. The business’s quarterly revenue was up 5.7% on a year-over-year basis. Analysts predict that Avery Dennison Corporation will post $4.83 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 20th. Shareholders of record on Wednesday, September 6th were paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date of this dividend was Friday, September 1st. Avery Dennison Corporation’s payout ratio is 42.25%.

In other Avery Dennison Corporation news, Director David E. I. Pyott sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $94.00, for a total transaction of $188,000.00. Following the sale, the director now owns 16,601 shares in the company, valued at approximately $1,560,494. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director David E. I. Pyott sold 298 shares of the firm’s stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $94.00, for a total transaction of $28,012.00. Following the sale, the director now owns 16,601 shares in the company, valued at approximately $1,560,494. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,298 shares of company stock worth $1,152,312. 1.40% of the stock is owned by company insiders.

Avery Dennison Corporation 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 Corporation (NYSE:AVY)

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