Bailard Inc. Has $2.67 Million Stake in Avery Dennison Co. (NYSE:AVY)

Bailard Inc. lifted its stake in shares of Avery Dennison Co. (NYSE:AVY) by 0.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,202 shares of the industrial products company’s stock after acquiring an additional 61 shares during the period. Bailard Inc.’s holdings in Avery Dennison were worth $2,668,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. QRG Capital Management Inc. raised its holdings in shares of Avery Dennison by 30.7% in the fourth quarter. QRG Capital Management Inc. now owns 3,682 shares of the industrial products company’s stock valued at $744,000 after purchasing an additional 864 shares during the last quarter. Jump Financial LLC bought a new position in shares of Avery Dennison in the 4th quarter valued at about $1,213,000. UBS Group AG increased its position in shares of Avery Dennison by 54.1% in the fourth quarter. UBS Group AG now owns 181,418 shares of the industrial products company’s stock valued at $36,675,000 after acquiring an additional 63,716 shares during the last quarter. Norden Group LLC increased its position in shares of Avery Dennison by 3.9% during the 4th quarter. Norden Group LLC now owns 4,026 shares of the industrial products company’s stock worth $814,000 after purchasing an additional 151 shares during the last quarter. Finally, Cetera Investment Advisers raised its stake in shares of Avery Dennison by 195.2% during the 1st quarter. Cetera Investment Advisers now owns 17,863 shares of the industrial products company’s stock worth $3,988,000 after purchasing an additional 11,811 shares in the last quarter. 94.17% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Chairman Mitchell R. Butier sold 3,000 shares of Avery Dennison stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $202.95, for a total value of $608,850.00. Following the transaction, the chairman now directly owns 304,114 shares of the company’s stock, valued at $61,719,936.30. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Chairman Mitchell R. Butier sold 3,000 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $202.95, for a total value of $608,850.00. Following the transaction, the chairman now owns 304,114 shares in the company, valued at $61,719,936.30. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Ryan D. Yost sold 584 shares of the stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $221.31, for a total value of $129,245.04. Following the sale, the insider now owns 2,259 shares of the company’s stock, valued at $499,939.29. The disclosure for this sale can be found here. Insiders sold a total of 62,047 shares of company stock valued at $13,208,163 in the last three months. Insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on AVY shares. BMO Capital Markets lowered their price objective on shares of Avery Dennison from $256.00 to $254.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 24th. UBS Group lowered shares of Avery Dennison from a “buy” rating to a “neutral” rating and decreased their price target for the company from $262.00 to $235.00 in a research note on Thursday, July 25th. Argus boosted their price objective on Avery Dennison from $240.00 to $245.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. Citigroup increased their target price on Avery Dennison from $230.00 to $241.00 and gave the stock a “neutral” rating in a research note on Monday, July 8th. Finally, Robert W. Baird upped their price objective on Avery Dennison from $230.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, June 7th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $239.96.

Avery Dennison Stock Performance

NYSE AVY opened at $218.05 on Tuesday. Avery Dennison Co. has a 1 year low of $165.21 and a 1 year high of $233.48. The firm has a market capitalization of $17.56 billion, a price-to-earnings ratio of 31.83, a P/E/G ratio of 1.77 and a beta of 0.88. The company has a current ratio of 0.90, a quick ratio of 0.60 and a debt-to-equity ratio of 0.89. The firm’s 50 day simple moving average is $216.43 and its 200 day simple moving average is $217.98.

Avery Dennison (NYSE:AVY) last posted its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $2.42 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.16. Avery Dennison had a return on equity of 33.44% and a net margin of 7.34%. The company had revenue of $2.24 billion during the quarter, compared to analysts’ expectations of $2.18 billion. During the same quarter in the previous year, the firm earned $1.92 EPS. Avery Dennison’s revenue was up 6.9% on a year-over-year basis. As a group, research analysts expect that Avery Dennison Co. will post 9.39 earnings per share for the current fiscal year.

Avery Dennison Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th will be issued a $0.88 dividend. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $3.52 dividend on an annualized basis and a yield of 1.61%. Avery Dennison’s payout ratio is 51.39%.

Avery Dennison Company Profile

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.