UBS Group AG Purchases 72,020 Shares of Avery Dennison Corp (NYSE:AVY)
UBS Group AG boosted its position in Avery Dennison Corp (NYSE:AVY) by 87.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 154,369 shares of the industrial products company’s stock after purchasing an additional 72,020 shares during the quarter. UBS Group AG owned about 0.18% of Avery Dennison worth $20,194,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. FMR LLC grew its position in Avery Dennison by 39.6% in the 4th quarter. FMR LLC now owns 3,103,731 shares of the industrial products company’s stock valued at $406,031,000 after acquiring an additional 879,996 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in Avery Dennison by 0.3% during the fourth quarter. Victory Capital Management Inc. now owns 1,923,544 shares of the industrial products company’s stock valued at $251,638,000 after acquiring an additional 5,234 shares during the period. Fenimore Asset Management Inc. boosted its holdings in Avery Dennison by 0.6% during the fourth quarter. Fenimore Asset Management Inc. now owns 616,597 shares of the industrial products company’s stock valued at $80,663,000 after acquiring an additional 3,590 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of Avery Dennison by 0.6% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 349,047 shares of the industrial products company’s stock valued at $45,662,000 after purchasing an additional 1,917 shares during the last quarter. Finally, Anchor Capital Advisors LLC grew its position in shares of Avery Dennison by 74.7% in the fourth quarter. Anchor Capital Advisors LLC now owns 321,681 shares of the industrial products company’s stock valued at $42,082,000 after purchasing an additional 137,566 shares during the last quarter. Institutional investors and hedge funds own 88.92% of the company’s stock.
A number of research firms have recently commented on AVY. Morgan Stanley cut their price objective on Avery Dennison from $137.00 to $112.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 18th. Citigroup decreased their target price on Avery Dennison from $142.00 to $124.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 11th. Argus started coverage on Avery Dennison in a report on Tuesday, January 7th. They issued a “hold” rating on the stock. Robert W. Baird lifted their price objective on shares of Avery Dennison from $140.00 to $150.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Finally, ValuEngine upgraded Avery Dennison from a “sell” rating to a “hold” rating in a research report on Friday, March 6th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $128.33.
Avery Dennison (NYSE:AVY) last posted its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $1.73 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.69 by $0.04. The business had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.79 billion. Avery Dennison had a net margin of 4.29% and a return on equity of 51.98%. The business’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.52 earnings per share. Research analysts predict that Avery Dennison Corp will post 6.92 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 18th. Shareholders of record on Wednesday, March 4th were given a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 2.37%. The ex-dividend date of this dividend was Tuesday, March 3rd. Avery Dennison’s dividend payout ratio (DPR) is 35.15%.
In other news, Director David E. I. Pyott sold 5,027 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $132.72, for a total value of $667,183.44. Following the transaction, the director now owns 22,297 shares in the company, valued at approximately $2,959,257.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Lori J. Bondar purchased 500 shares of Avery Dennison stock in a transaction dated Friday, February 28th. The stock was bought at an average cost of $112.85 per share, with a total value of $56,425.00. Following the completion of the transaction, the chief accounting officer now directly owns 14,394 shares of the company’s stock, valued at $1,624,362.90. The disclosure for this purchase can be found here. Company insiders own 1.10% of the company’s stock.
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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