Northern Trust Corp increased its position in shares of Avery Dennison Corp (NYSE:AVY) by 1.5% during the second quarter, Holdings Channel reports. The institutional investor owned 1,023,724 shares of the industrial products company’s stock after buying an additional 15,323 shares during the quarter. Northern Trust Corp’s holdings in Avery Dennison were worth $118,425,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Squar Milner Financial Services LLC increased its stake in shares of Avery Dennison by 5.8% during the second quarter. Squar Milner Financial Services LLC now owns 1,739 shares of the industrial products company’s stock worth $201,000 after buying an additional 95 shares during the period. Riverhead Capital Management LLC increased its stake in Avery Dennison by 4.3% in the second quarter. Riverhead Capital Management LLC now owns 2,400 shares of the industrial products company’s stock valued at $278,000 after purchasing an additional 100 shares during the last quarter. Hartford Investment Management Co. increased its stake in Avery Dennison by 1.1% in the second quarter. Hartford Investment Management Co. now owns 10,239 shares of the industrial products company’s stock valued at $1,184,000 after purchasing an additional 108 shares during the last quarter. ETF Managers Group LLC increased its stake in Avery Dennison by 8.9% in the first quarter. ETF Managers Group LLC now owns 1,360 shares of the industrial products company’s stock valued at $154,000 after purchasing an additional 111 shares during the last quarter. Finally, Securian Asset Management Inc increased its stake in Avery Dennison by 1.4% in the second quarter. Securian Asset Management Inc now owns 8,769 shares of the industrial products company’s stock valued at $1,014,000 after purchasing an additional 119 shares during the last quarter. Hedge funds and other institutional investors own 88.66% of the company’s stock.

AVY has been the topic of several recent analyst reports. UBS Group dropped their price target on shares of Avery Dennison from $130.00 to $129.00 and set a “buy” rating on the stock in a research note on Friday. Berenberg Bank initiated coverage on shares of Avery Dennison in a research note on Thursday, August 15th. They issued a “buy” rating and a $130.00 price target on the stock. Citigroup increased their price target on shares of Avery Dennison from $130.00 to $132.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. ValuEngine lowered shares of Avery Dennison from a “hold” rating to a “sell” rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. increased their price target on shares of Avery Dennison from $105.00 to $111.00 and gave the company an “underweight” rating in a research note on Wednesday, July 24th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company. Avery Dennison has an average rating of “Hold” and a consensus price target of $121.67.

In other news, Director Anthony Anderson sold 2,150 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $114.54, for a total value of $246,261.00. Following the completion of the sale, the director now directly owns 2,862 shares of the company’s stock, valued at $327,813.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Mitchell R. Butier sold 50,000 shares of the stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $116.21, for a total value of $5,810,500.00. Following the completion of the sale, the chairman now directly owns 158,316 shares of the company’s stock, valued at $18,397,902.36. The disclosure for this sale can be found here. Insiders sold 76,490 shares of company stock valued at $8,886,301 over the last three months. Corporate insiders own 1.30% of the company’s stock.

Shares of AVY stock traded up $3.78 during trading hours on Friday, hitting $116.78. The stock had a trading volume of 15,770 shares, compared to its average volume of 408,401. The firm has a market capitalization of $9.57 billion, a PE ratio of 19.36, a PEG ratio of 2.10 and a beta of 1.33. Avery Dennison Corp has a twelve month low of $82.89 and a twelve month high of $120.65. The stock’s 50 day moving average is $113.60 and its 200 day moving average is $111.30. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.04 and a quick ratio of 0.75.

Avery Dennison (NYSE:AVY) last posted its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $1.72 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.68 by $0.04. The business had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.83 billion. Avery Dennison had a return on equity of 52.67% and a net margin of 3.44%. The company’s revenue was down 3.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.66 earnings per share. As a group, equities analysts predict that Avery Dennison Corp will post 6.57 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th will be issued a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 1.99%. The ex-dividend date of this dividend is Tuesday, September 3rd. Avery Dennison’s payout ratio is currently 38.28%.

About Avery Dennison

Avery Dennison Corporation produces and sells pressure-sensitive materials worldwide. 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.

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

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