Boston Private Wealth LLC Cuts Stock Holdings in Avery Dennison Corp (NYSE:AVY)
Boston Private Wealth LLC lowered its stake in shares of Avery Dennison Corp (NYSE:AVY) by 5.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,588 shares of the industrial products company’s stock after selling 431 shares during the period. Boston Private Wealth LLC’s holdings in Avery Dennison were worth $862,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. AdvisorNet Financial Inc purchased a new position in Avery Dennison during the third quarter worth approximately $28,000. TRUE Private Wealth Advisors purchased a new position in Avery Dennison during the second quarter worth approximately $40,000. Amica Retiree Medical Trust purchased a new position in Avery Dennison during the second quarter worth approximately $44,000. CSat Investment Advisory L.P. raised its stake in Avery Dennison by 57.3% during the second quarter. CSat Investment Advisory L.P. now owns 461 shares of the industrial products company’s stock worth $53,000 after purchasing an additional 168 shares during the period. Finally, Kavar Capital Partners LLC purchased a new position in Avery Dennison during the second quarter worth approximately $55,000. 88.37% of the stock is currently owned by institutional investors.
In other news, Director Julia A. Stewart sold 6,318 shares of the firm’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $130.00, for a total value of $821,340.00. Following the transaction, the director now owns 18,624 shares of the company’s stock, valued at approximately $2,421,120. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Anthony Anderson sold 2,150 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $114.54, for a total transaction of $246,261.00. Following the completion of the transaction, the director now directly owns 2,862 shares in the company, valued at approximately $327,813.48. The disclosure for this sale can be found here. In the last three months, insiders sold 19,781 shares of company stock worth $2,418,877. Insiders own 1.30% of the company’s stock.
Avery Dennison (NYSE:AVY) last issued its earnings results on Wednesday, October 23rd. The industrial products company reported $1.66 EPS for the quarter, beating the Zacks’ consensus estimate of $1.61 by $0.05. Avery Dennison had a net margin of 3.37% and a return on equity of 53.79%. The business had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.75 billion. During the same quarter last year, the firm posted $1.45 EPS. The business’s revenue for the quarter was up .0% compared to the same quarter last year. Equities research analysts expect that Avery Dennison Corp will post 6.55 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date of this dividend is Tuesday, December 3rd. Avery Dennison’s dividend payout ratio is presently 38.28%.
A number of equities analysts have weighed in on AVY shares. UBS Group cut 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, September 13th. Robert W. Baird increased their price target on shares of Avery Dennison from $125.00 to $140.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Zacks Investment Research raised shares of Avery Dennison from a “sell” rating to a “hold” rating and set a $134.00 price target on the stock in a research note on Friday, October 25th. JPMorgan Chase & Co. increased their price target on shares of Avery Dennison from $105.00 to $111.00 and gave the stock an “underweight” rating in a research note on Wednesday, July 24th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Avery Dennison in a research note on Friday, September 13th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $126.00.
Avery Dennison Profile
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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