Morris Capital Advisors LLC Sells 147 Shares of Avery Dennison Co. (NYSE:AVY)

Morris Capital Advisors LLC lowered its position in shares of Avery Dennison Co. (NYSE:AVYGet Rating) by 2.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,982 shares of the industrial products company’s stock after selling 147 shares during the quarter. Morris Capital Advisors LLC’s holdings in Avery Dennison were worth $806,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. GSA Capital Partners LLP bought a new stake in Avery Dennison in the first quarter valued at about $778,000. Envestnet Asset Management Inc. increased its holdings in Avery Dennison by 2.6% in the first quarter. Envestnet Asset Management Inc. now owns 76,719 shares of the industrial products company’s stock valued at $13,347,000 after purchasing an additional 1,912 shares during the last quarter. DAVENPORT & Co LLC bought a new stake in Avery Dennison in the first quarter valued at about $299,000. Kentucky Retirement Systems increased its holdings in Avery Dennison by 5.0% in the first quarter. Kentucky Retirement Systems now owns 5,277 shares of the industrial products company’s stock valued at $918,000 after purchasing an additional 253 shares during the last quarter. Finally, Mascoma Wealth Management LLC increased its holdings in Avery Dennison by 60.2% in the first quarter. Mascoma Wealth Management LLC now owns 346 shares of the industrial products company’s stock valued at $60,000 after purchasing an additional 130 shares during the last quarter. Institutional investors own 90.21% of the company’s stock.

Avery Dennison Stock Down 2.0 %

Shares of AVY stock traded down $3.35 on Friday, hitting $165.56. 47,581 shares of the stock were exchanged, compared to its average volume of 398,780. The company has a current ratio of 0.98, a quick ratio of 0.65 and a debt-to-equity ratio of 1.29. The firm has a market capitalization of $13.45 billion, a P/E ratio of 17.98, a price-to-earnings-growth ratio of 2.49 and a beta of 0.97. The business has a 50-day moving average of $186.54 and a 200 day moving average of $175.54. Avery Dennison Co. has a fifty-two week low of $151.62 and a fifty-two week high of $229.24.

Avery Dennison (NYSE:AVYGet Rating) last posted its quarterly earnings data on Wednesday, July 27th. The industrial products company reported $2.64 earnings per share for the quarter, topping the consensus estimate of $2.37 by $0.27. The company had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.33 billion. Avery Dennison had a return on equity of 40.75% and a net margin of 8.48%. Avery Dennison’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.25 earnings per share. Equities analysts anticipate that Avery Dennison Co. will post 9.93 EPS for the current year.

Avery Dennison Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 21st. Investors of record on Wednesday, September 7th were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Tuesday, September 6th. This represents a $3.00 annualized dividend and a yield of 1.81%. Avery Dennison’s dividend payout ratio (DPR) is presently 32.79%.

Analyst Ratings Changes

A number of research firms have issued reports on AVY. StockNews.com raised Avery Dennison from a “hold” rating to a “buy” rating in a research note on Thursday, July 28th. UBS Group decreased their target price on Avery Dennison from $195.00 to $180.00 in a research note on Wednesday, July 13th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $205.57.

Insider Activity at Avery Dennison

In related news, Director Anthony Anderson sold 2,800 shares of the stock in a transaction that occurred on Wednesday, September 14th. The stock was sold at an average price of $178.82, for a total transaction of $500,696.00. Following the completion of the transaction, the director now directly owns 1,374 shares of the company’s stock, valued at $245,698.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.00% of the company’s stock.

Avery Dennison Profile

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Avery Dennison Corporation manufactures and markets pressure-sensitive materials and products in the United States, Europe, Asia, Latin America, and internationally. The company's Label and Graphic Materials segment offers pressure-sensitive label and packaging materials; and graphics and reflective products under the Fasson, JAC, Avery Dennison, and Mactac brands, as well as durable cast and reflective films.

Further Reading

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

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