Advisor Group Holdings Inc. boosted its holdings in Avery Dennison Co. (NYSE:AVY) by 74.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 16,480 shares of the industrial products company’s stock after acquiring an additional 7,054 shares during the quarter. Advisor Group Holdings Inc.’s holdings in Avery Dennison were worth $3,417,000 as of its most recent filing with the SEC.
A number of other large investors have also added to or reduced their stakes in AVY. Spire Wealth Management raised its position in Avery Dennison by 64.0% in the third quarter. Spire Wealth Management now owns 123 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 48 shares in the last quarter. GeoWealth Management LLC purchased a new position in Avery Dennison in the second quarter worth $56,000. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. purchased a new position in Avery Dennison in the second quarter worth $78,000. Private Capital Group LLC raised its position in Avery Dennison by 32.1% in the third quarter. Private Capital Group LLC now owns 457 shares of the industrial products company’s stock worth $95,000 after acquiring an additional 111 shares in the last quarter. Finally, Dark Forest Capital Management LP purchased a new position in Avery Dennison in the second quarter worth $105,000. Hedge funds and other institutional investors own 87.28% of the company’s stock.
Several analysts have weighed in on the company. Raymond James assumed coverage on Avery Dennison in a report on Tuesday, November 23rd. They issued an “outperform” rating and a $240.00 target price on the stock. UBS Group upped their target price on Avery Dennison from $232.00 to $234.00 and gave the company a “neutral” rating in a report on Tuesday, January 4th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Avery Dennison has a consensus rating of “Buy” and a consensus target price of $229.73.
Avery Dennison (NYSE:AVY) last posted its quarterly earnings data on Tuesday, October 26th. The industrial products company reported $2.14 EPS for the quarter, beating analysts’ consensus estimates of $2.04 by $0.10. The business had revenue of $2.07 billion for the quarter, compared to analyst estimates of $2 billion. Avery Dennison had a return on equity of 46.22% and a net margin of 9.12%. The business’s revenue for the quarter was up 19.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.91 earnings per share. As a group, equities analysts expect that Avery Dennison Co. will post 8.94 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 15th. Investors of record on Wednesday, December 1st were given a dividend of $0.68 per share. The ex-dividend date of this dividend was Tuesday, November 30th. This represents a $2.72 annualized dividend and a yield of 1.30%. Avery Dennison’s dividend payout ratio (DPR) is presently 30.46%.
In related news, VP Deena Baker-Nel sold 1,400 shares of the stock in a transaction dated Friday, October 29th. The stock was sold at an average price of $217.00, for a total transaction of $303,800.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Bradley A. Alford sold 6,318 shares of the stock in a transaction dated Friday, November 5th. The stock was sold at an average price of $225.58, for a total value of $1,425,214.44. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.
Avery Dennison Profile
Avery Dennison Corp. engages in the provision of labeling and packaging materials and solutions. It operates through the following segments: Label & Graphic Materials, Retail Branding & Information Solutions and Industrial & Healthcare Materials. The Label and Graphic Materials segment manufactures and sells Fasson, JAC, and Avery Dennison-brand pressure-sensitive label and packaging materials, Avery Dennison and Mactac brand graphics, and Avery Dennison brand reflective products.
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