Duality Advisers LP Sells 735 Shares of Avery Dennison Co. (NYSE:AVY)

Duality Advisers LP lessened its position in shares of Avery Dennison Co. (NYSE:AVYGet Rating) by 20.3% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,881 shares of the industrial products company’s stock after selling 735 shares during the period. Duality Advisers LP’s holdings in Avery Dennison were worth $466,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. CX Institutional bought a new position in Avery Dennison during the second quarter worth $25,000. Clear Street Markets LLC raised its stake in Avery Dennison by 402.9% during the second quarter. Clear Street Markets LLC now owns 171 shares of the industrial products company’s stock worth $28,000 after buying an additional 137 shares during the last quarter. J.W. Cole Advisors Inc. bought a new position in Avery Dennison during the first quarter worth $44,000. Trust Co. of Vermont bought a new position in Avery Dennison during the second quarter worth $49,000. Finally, Capital Analysts LLC raised its stake in Avery Dennison by 113.9% during the first quarter. Capital Analysts LLC now owns 293 shares of the industrial products company’s stock worth $51,000 after buying an additional 156 shares during the last quarter. Institutional investors own 90.21% of the company’s stock.

Insider Buying and Selling

In related news, Director Anthony Anderson sold 2,800 shares of the business’s stock in a transaction dated Wednesday, September 14th. The shares were sold at an average price of $178.82, for a total transaction of $500,696.00. Following the transaction, the director now directly owns 1,374 shares in the company, valued at $245,698.68. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on AVY. Citigroup lowered their target price on shares of Avery Dennison from $218.00 to $204.00 and set a “buy” rating for the company in a research note on Tuesday, October 11th. Bank of America cut shares of Avery Dennison from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $206.00 to $172.00 in a report on Thursday, October 13th. StockNews.com upgraded shares of Avery Dennison from a “hold” rating to a “buy” rating in a report on Wednesday, November 9th. Robert W. Baird reduced their price target on shares of Avery Dennison from $250.00 to $210.00 in a report on Thursday, October 27th. Finally, Raymond James reduced their price target on shares of Avery Dennison from $200.00 to $190.00 and set an “outperform” rating for the company in a report on Thursday, October 27th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $196.44.

Avery Dennison Stock Down 1.8 %

Shares of NYSE AVY opened at $180.55 on Tuesday. The stock has a market capitalization of $14.62 billion, a P/E ratio of 18.26, a P/E/G ratio of 2.69 and a beta of 0.96. The company has a 50-day moving average price of $172.90 and a 200-day moving average price of $175.30. Avery Dennison Co. has a 1 year low of $151.62 and a 1 year high of $228.11. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.01 and a quick ratio of 0.66.

Avery Dennison (NYSE:AVYGet Rating) last issued its quarterly earnings data on Wednesday, October 26th. The industrial products company reported $2.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.52 by ($0.06). The business had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.30 billion. Avery Dennison had a net margin of 8.88% and a return on equity of 40.82%. The firm’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.14 earnings per share. On average, equities research analysts forecast that Avery Dennison Co. will post 9.77 EPS for the current fiscal year.

Avery Dennison Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 21st. Investors of record on Wednesday, December 7th will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.66%. The ex-dividend date is Tuesday, December 6th. Avery Dennison’s dividend payout ratio (DPR) is presently 30.33%.

Avery Dennison Profile

(Get Rating)

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 under the Fasson, JAC, and Avery Dennison brands; graphics products under the Avery Dennison and Mactac brands; and reflective products under the Avery Dennison brand.

Further Reading

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

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