Assenagon Asset Management S.A. Raises Holdings in Avery Dennison Co. (NYSE:AVY)

Assenagon Asset Management S.A. lifted its holdings in shares of Avery Dennison Co. (NYSE:AVYFree Report) by 192.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,713 shares of the industrial products company’s stock after purchasing an additional 7,047 shares during the period. Assenagon Asset Management S.A.’s holdings in Avery Dennison were worth $2,166,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of AVY. Clear Street Markets LLC increased its stake in shares of Avery Dennison by 92.7% during the 1st quarter. Clear Street Markets LLC now owns 158 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 76 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of Avery Dennison during the 3rd quarter worth approximately $32,000. Eagle Bay Advisors LLC purchased a new position in shares of Avery Dennison during the 2nd quarter worth approximately $33,000. IFP Advisors Inc increased its stake in shares of Avery Dennison by 56.3% during the 2nd quarter. IFP Advisors Inc now owns 200 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 72 shares in the last quarter. Finally, Milestone Investment Advisors LLC purchased a new position in shares of Avery Dennison during the 1st quarter worth approximately $35,000. 94.17% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Avery Dennison

In related news, Chairman Mitchell R. Butier sold 8,168 shares of Avery Dennison stock in a transaction on Monday, March 4th. The shares were sold at an average price of $217.36, for a total transaction of $1,775,396.48. Following the transaction, the chairman now owns 321,487 shares in the company, valued at approximately $69,878,414.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Avery Dennison news, insider Ryan D. Yost sold 1,400 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $213.29, for a total value of $298,606.00. Following the transaction, the insider now owns 2,843 shares in the company, valued at approximately $606,383.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Mitchell R. Butier sold 8,168 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $217.36, for a total transaction of $1,775,396.48. Following the completion of the transaction, the chairman now owns 321,487 shares in the company, valued at approximately $69,878,414.32. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,879 shares of company stock worth $4,217,705. 1.10% of the stock is currently owned by corporate insiders.

Avery Dennison Stock Up 0.4 %

Shares of AVY opened at $221.23 on Thursday. The firm has a market cap of $17.81 billion, a PE ratio of 35.62, a price-to-earnings-growth ratio of 3.44 and a beta of 0.90. The company’s fifty day moving average is $211.75 and its two-hundred day moving average is $196.74. Avery Dennison Co. has a fifty-two week low of $158.93 and a fifty-two week high of $225.26. The company has a quick ratio of 0.69, a current ratio of 1.04 and a debt-to-equity ratio of 1.23.

Avery Dennison (NYSE:AVYGet Free Report) last announced its quarterly earnings results on Wednesday, January 31st. The industrial products company reported $2.16 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.16. The company had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.10 billion. Avery Dennison had a net margin of 6.01% and a return on equity of 30.97%. Avery Dennison’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter last year, the business earned $1.65 EPS. Analysts forecast that Avery Dennison Co. will post 9.28 earnings per share for the current year.

Avery Dennison Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, March 6th were issued a dividend of $0.81 per share. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $3.24 annualized dividend and a dividend yield of 1.46%. Avery Dennison’s payout ratio is 52.17%.

Analysts Set New Price Targets

Several research firms have commented on AVY. JPMorgan Chase & Co. lifted their target price on shares of Avery Dennison from $185.00 to $218.00 and gave the stock an “overweight” rating in a research note on Thursday, February 1st. StockNews.com cut shares of Avery Dennison from a “buy” rating to a “hold” rating in a research note on Wednesday, March 27th. Citigroup cut shares of Avery Dennison from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $197.00 to $214.00 in a research note on Wednesday, January 3rd. UBS Group lifted their target price on shares of Avery Dennison from $225.00 to $230.00 and gave the stock a “buy” rating in a research note on Thursday, January 11th. Finally, Raymond James lifted their target price on shares of Avery Dennison from $199.00 to $225.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Avery Dennison currently has an average rating of “Moderate Buy” and a consensus price target of $218.78.

Check Out Our Latest Stock Analysis on AVY

Avery Dennison Profile

(Free Report)

Avery Dennison Corporation operates as a materials science and digital identification solutions company in the United States, Europe, the Middle East, North Africa, Asia, Latin, America, and internationally. It provides pressure-sensitive materials comprising papers, plastic films, metal foils, and fabrics; performance tapes products, including tapes for wire harnessing, as well as cable wrapping for automotive, electrical, and general industrial applications; mechanical fasteners, which are precision-extruded and injection-molded plastic devices used in various automotive, general industrial, and retail applications; and other pressure-sensitive adhesive-based materials and converted products under the Fasson, JAC, Yongle, and Avery Dennison brands.

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

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