Diversified Trust Co Acquires 373 Shares of Avery Dennison Co. (NYSE:AVY)

Diversified Trust Co lifted its stake in shares of Avery Dennison Co. (NYSE:AVY) by 2.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 13,272 shares of the industrial products company’s stock after buying an additional 373 shares during the quarter. Diversified Trust Co’s holdings in Avery Dennison were worth $2,902,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of AVY. VisionPoint Advisory Group LLC acquired a new position in Avery Dennison during the 4th quarter worth approximately $42,000. Livforsakringsbolaget Skandia Omsesidigt raised its position in shares of Avery Dennison by 164.4% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 267 shares of the industrial products company’s stock worth $54,000 after purchasing an additional 166 shares during the period. Palisade Asset Management LLC bought a new position in shares of Avery Dennison in the 1st quarter worth $64,000. Versant Capital Management Inc grew its position in Avery Dennison by 936.7% in the 2nd quarter. Versant Capital Management Inc now owns 311 shares of the industrial products company’s stock valued at $68,000 after purchasing an additional 281 shares during the period. Finally, Parkside Financial Bank & Trust increased its stake in Avery Dennison by 250.4% during the 4th quarter. Parkside Financial Bank & Trust now owns 403 shares of the industrial products company’s stock valued at $81,000 after purchasing an additional 288 shares in the last quarter. Institutional investors own 94.17% of the company’s stock.

Insider Buying and Selling at Avery Dennison

In other news, SVP Deena Baker-Nel sold 3,000 shares of the stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $228.17, for a total transaction of $684,510.00. Following the completion of the transaction, the senior vice president now directly owns 1,577 shares in the company, valued at approximately $359,824.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Avery Dennison news, insider Francisco Melo sold 3,750 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $227.00, for a total transaction of $851,250.00. Following the sale, the insider now directly owns 15,230 shares in the company, valued at $3,457,210. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Deena Baker-Nel sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $228.17, for a total value of $684,510.00. Following the completion of the sale, the senior vice president now directly owns 1,577 shares of the company’s stock, valued at $359,824.09. The disclosure for this sale can be found here. Insiders sold 28,689 shares of company stock valued at $6,182,866 in the last 90 days. Insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on AVY. BMO Capital Markets dropped their price target on shares of Avery Dennison from $256.00 to $254.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 24th. Robert W. Baird upped their target price on Avery Dennison from $230.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, June 7th. JPMorgan Chase & Co. lifted their price target on Avery Dennison from $218.00 to $220.00 and gave the stock an “overweight” rating in a report on Thursday, April 25th. Raymond James reaffirmed an “outperform” rating and set a $240.00 target price (up from $225.00) on shares of Avery Dennison in a research report on Thursday, April 25th. Finally, Citigroup increased their price target on shares of Avery Dennison from $230.00 to $241.00 and gave the company a “neutral” rating in a research report on Monday, July 8th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $239.96.

Avery Dennison Stock Up 0.3 %

Shares of NYSE:AVY traded up $0.72 during midday trading on Wednesday, reaching $209.81. The company’s stock had a trading volume of 14,963 shares, compared to its average volume of 448,976. The company has a quick ratio of 0.60, a current ratio of 0.90 and a debt-to-equity ratio of 0.89. The firm has a 50 day moving average of $218.72 and a 200-day moving average of $217.08. The firm has a market capitalization of $16.90 billion, a P/E ratio of 30.52, a PEG ratio of 1.77 and a beta of 0.88. Avery Dennison Co. has a 12-month low of $165.21 and a 12-month high of $233.48.

Avery Dennison (NYSE:AVY) last posted its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $2.42 EPS for the quarter, beating 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 prior year, the business earned $1.92 earnings per share. Avery Dennison’s revenue for the quarter was up 6.9% compared to the same quarter last year. On average, research analysts anticipate that Avery Dennison Co. will post 9.39 earnings per share for the current year.

Avery Dennison Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th will be issued a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.68%. The ex-dividend date is Wednesday, September 4th. Avery Dennison’s dividend payout ratio (DPR) is presently 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.