Barings LLC Lowers Stock Position in Avery Dennison Co. (NYSE:AVY)

Barings LLC decreased its holdings in Avery Dennison Co. (NYSE:AVY) by 60.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,199 shares of the industrial products company’s stock after selling 1,839 shares during the quarter. Barings LLC’s holdings in Avery Dennison were worth $252,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Acadian Asset Management LLC boosted its stake in shares of Avery Dennison by 10.4% in the first quarter. Acadian Asset Management LLC now owns 100,186 shares of the industrial products company’s stock valued at $18,399,000 after purchasing an additional 9,461 shares during the period. DE Burlo Group Inc. boosted its stake in shares of Avery Dennison by 154.3% in the second quarter. DE Burlo Group Inc. now owns 62,800 shares of the industrial products company’s stock valued at $13,203,000 after purchasing an additional 38,100 shares during the period. BNP Paribas Arbitrage SA boosted its stake in shares of Avery Dennison by 225.9% in the second quarter. BNP Paribas Arbitrage SA now owns 34,297 shares of the industrial products company’s stock valued at $7,211,000 after purchasing an additional 23,772 shares during the period. HighTower Advisors LLC boosted its stake in shares of Avery Dennison by 116.3% in the second quarter. HighTower Advisors LLC now owns 11,414 shares of the industrial products company’s stock valued at $2,398,000 after purchasing an additional 6,137 shares during the period. Finally, Maryland State Retirement & Pension System boosted its stake in shares of Avery Dennison by 374.1% in the first quarter. Maryland State Retirement & Pension System now owns 6,363 shares of the industrial products company’s stock valued at $1,169,000 after purchasing an additional 5,021 shares during the period. 87.04% of the stock is owned by institutional investors and hedge funds.

In other news, VP Ignacio J. Walker sold 477 shares of the firm’s stock in a transaction that occurred on Friday, September 3rd. The shares were sold at an average price of $226.66, for a total transaction of $108,116.82. Following the transaction, the vice president now directly owns 3,850 shares in the company, valued at $872,641. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.00% of the company’s stock.

AVY stock opened at $216.94 on Friday. The company has a current ratio of 1.32, a quick ratio of 0.92 and a debt-to-equity ratio of 1.19. Avery Dennison Co. has a twelve month low of $115.77 and a twelve month high of $228.88. The company’s 50 day moving average is $216.36 and its two-hundred day moving average is $208.61. The stock has a market cap of $17.98 billion, a P/E ratio of 24.76, a PEG ratio of 3.58 and a beta of 1.00.

Avery Dennison (NYSE:AVY) last released its quarterly earnings data on Tuesday, July 27th. The industrial products company reported $2.25 earnings per share for the quarter, topping analysts’ consensus estimates of $2.07 by $0.18. Avery Dennison had a net margin of 9.34% and a return on equity of 48.53%. The company had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $1.96 billion. On average, equities research analysts predict that Avery Dennison Co. will post 8.94 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 15th. Stockholders of record on Wednesday, September 1st were given a dividend of $0.68 per share. The ex-dividend date was Tuesday, August 31st. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.25%. Avery Dennison’s dividend payout ratio (DPR) is presently 38.31%.

AVY has been the topic of several analyst reports. Morgan Stanley raised their target price on shares of Avery Dennison from $215.00 to $225.00 and gave the company an “equal weight” rating in a report on Monday, August 2nd. Zacks Investment Research cut shares of Avery Dennison from a “buy” rating to a “hold” rating and set a $226.00 target price on the stock. in a report on Monday, August 9th. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $223.73.

Avery Dennison Profile

Avery Dennison Corp. engages in the provision of labeling and packaging materials and solutions. It operates through the following segments: Label & Graphic Materials, Retail Branding & Information Solutions and Industrial & Healthcare Materials. The Label and Graphic Materials segment manufactures and sells Fasson, JAC, and Avery Dennison-brand pressure-sensitive label and packaging materials, Avery Dennison and Mactac brand graphics, and Avery Dennison brand reflective products.

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

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