Avery Dennison Corporation (NYSE:AVY) Stake Raised by Keybank National Association OH

Keybank National Association OH raised its holdings in Avery Dennison Corporation (NYSE:AVY) by 57.8% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,991 shares of the industrial products company’s stock after buying an additional 3,295 shares during the quarter. Keybank National Association OH’s holdings in Avery Dennison Corporation were worth $795,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Private Trust Co. NA grew its holdings in Avery Dennison Corporation by 0.5% in the 2nd quarter. Private Trust Co. NA now owns 5,327 shares of the industrial products company’s stock valued at $470,000 after buying an additional 28 shares during the last quarter. United Capital Financial Advisers LLC grew its holdings in shares of Avery Dennison Corporation by 0.5% during the 1st quarter. United Capital Financial Advisers LLC now owns 6,924 shares of the industrial products company’s stock worth $558,000 after purchasing an additional 36 shares in the last quarter. CIBC Asset Management Inc grew its holdings in shares of Avery Dennison Corporation by 0.5% during the 2nd quarter. CIBC Asset Management Inc now owns 8,592 shares of the industrial products company’s stock worth $759,000 after purchasing an additional 39 shares in the last quarter. ProVise Management Group LLC grew its holdings in shares of Avery Dennison Corporation by 0.9% during the 2nd quarter. ProVise Management Group LLC now owns 5,761 shares of the industrial products company’s stock worth $509,000 after purchasing an additional 52 shares in the last quarter. Finally, Atlantic Trust Group LLC grew its holdings in shares of Avery Dennison Corporation by 0.7% during the 1st quarter. Atlantic Trust Group LLC now owns 10,766 shares of the industrial products company’s stock worth $867,000 after purchasing an additional 78 shares in the last quarter. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

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In related news, Director David E. I. Pyott sold 2,000 shares of the stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $94.00, for a total value of $188,000.00. Following the completion of the transaction, the director now directly owns 16,601 shares of the company’s stock, valued at $1,560,494. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Patrick Siewert sold 10,000 shares of the stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $93.63, for a total transaction of $936,300.00. Following the completion of the transaction, the director now directly owns 10,519 shares of the company’s stock, valued at $984,893.97. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,298 shares of company stock valued at $1,152,312. Insiders own 1.40% of the company’s stock.

AVY has been the topic of several recent research reports. Aegis reissued a “hold” rating on shares of Avery Dennison Corporation in a report on Thursday, June 1st. Zacks Investment Research lowered Avery Dennison Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. BidaskClub lowered Avery Dennison Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 9th. Bank of America Corporation upgraded Avery Dennison Corporation from a “neutral” rating to a “buy” rating and raised their target price for the stock from $90.00 to $96.00 in a research report on Tuesday, June 20th. Finally, Citigroup Inc. raised their target price on Avery Dennison Corporation from $106.00 to $108.00 and gave the stock a “buy” rating in a research report on Wednesday, July 26th. Three 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. Avery Dennison Corporation presently has an average rating of “Buy” and a consensus price target of $92.86.

Avery Dennison Corporation (AVY) opened at 98.76 on Friday. Avery Dennison Corporation has a 12 month low of $68.55 and a 12 month high of $99.26. The company has a market cap of $8.73 billion, a P/E ratio of 23.20 and a beta of 1.18. The firm has a 50-day moving average price of $94.02 and a 200 day moving average price of $87.03.

Avery Dennison Corporation (NYSE:AVY) last issued its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $1.31 EPS for the quarter, beating the consensus estimate of $1.21 by $0.10. The firm had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.61 billion. Avery Dennison Corporation had a net margin of 6.14% and a return on equity of 39.29%. The company’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.09 earnings per share. On average, equities analysts expect that Avery Dennison Corporation will post $4.83 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 20th. Stockholders of record on Wednesday, September 6th were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.82%. The ex-dividend date of this dividend was Friday, September 1st. Avery Dennison Corporation’s dividend payout ratio (DPR) is 42.25%.

About Avery Dennison Corporation

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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