Assenagon Asset Management S.A. Purchases 7,047 Shares of Avery Dennison Co. (NYSE:AVY)

Assenagon Asset Management S.A. increased its position in shares of Avery Dennison Co. (NYSE:AVYFree Report) by 192.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,713 shares of the industrial products company’s stock after buying an additional 7,047 shares during the period. Assenagon Asset Management S.A.’s holdings in Avery Dennison were worth $2,166,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Clear Street Markets LLC boosted its holdings 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 buying an additional 76 shares during the period. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Avery Dennison during the 3rd quarter worth $32,000. Eagle Bay Advisors LLC bought a new stake in shares of Avery Dennison during the 2nd quarter worth $33,000. IFP Advisors Inc boosted its holdings 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 buying an additional 72 shares during the period. Finally, Milestone Investment Advisors LLC bought a new stake in shares of Avery Dennison during the 1st quarter worth $35,000. 94.17% of the stock is owned by institutional investors.

Avery Dennison Price Performance

NYSE:AVY opened at $221.23 on Thursday. The company has a 50-day moving average of $211.75 and a 200-day moving average of $196.74. The company has a market capitalization of $17.81 billion, a price-to-earnings ratio of 35.62, a PEG ratio of 3.44 and a beta of 0.90. Avery Dennison Co. has a 52 week low of $158.93 and a 52 week high of $225.26. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.69 and a current ratio of 1.04.

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

Avery Dennison Announces Dividend

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

Analysts Set New Price Targets

A number of brokerages have weighed in on AVY. JPMorgan Chase & Co. increased their price target on shares of Avery Dennison from $185.00 to $218.00 and gave the company an “overweight” rating in a report on Thursday, February 1st. Bank of America downgraded shares of Avery Dennison from a “buy” rating to an “underperform” rating and set a $208.00 price target for the company. in a report on Tuesday, January 2nd. Citigroup downgraded shares of Avery Dennison from a “buy” rating to a “neutral” rating and increased their price target for the company from $197.00 to $214.00 in a report on Wednesday, January 3rd. StockNews.com downgraded shares of Avery Dennison from a “buy” rating to a “hold” rating in a report on Wednesday, March 27th. Finally, UBS Group increased their price target on shares of Avery Dennison from $225.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, January 11th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $218.78.

Check Out Our Latest Research Report on AVY

Insider Buying and Selling

In related news, Director Julia A. Stewart sold 5,311 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $202.26, for a total transaction of $1,074,202.86. Following the completion of the sale, the director now owns 5,018 shares in the company, valued at approximately $1,014,940.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Julia A. Stewart sold 5,311 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $202.26, for a total transaction of $1,074,202.86. Following the completion of the sale, the director now owns 5,018 shares in the company, valued at approximately $1,014,940.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ryan D. Yost sold 1,400 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $213.29, for a total transaction of $298,606.00. Following the completion of the sale, the insider now owns 2,843 shares of the company’s stock, valued at approximately $606,383.47. The disclosure for this sale can be found here. Insiders sold 19,879 shares of company stock worth $4,217,705 in the last quarter. 1.10% of the stock is owned by corporate insiders.

Avery Dennison Company 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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