Scotia Capital Inc. Acquires Shares of 19,284 Avery Dennison Co. (NYSE:AVY)

Scotia Capital Inc. bought a new stake in Avery Dennison Co. (NYSE:AVYFree Report) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 19,284 shares of the industrial products company’s stock, valued at approximately $3,523,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in Avery Dennison by 6.6% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 11,078 shares of the industrial products company’s stock worth $1,927,000 after purchasing an additional 686 shares in the last quarter. Great West Life Assurance Co. Can grew its position in shares of Avery Dennison by 28.5% in the first quarter. Great West Life Assurance Co. Can now owns 46,710 shares of the industrial products company’s stock valued at $8,530,000 after purchasing an additional 10,370 shares during the last quarter. Yousif Capital Management LLC grew its position in shares of Avery Dennison by 0.5% in the first quarter. Yousif Capital Management LLC now owns 12,732 shares of the industrial products company’s stock valued at $2,215,000 after purchasing an additional 65 shares during the last quarter. Raymond James Trust N.A. grew its position in shares of Avery Dennison by 61.4% in the first quarter. Raymond James Trust N.A. now owns 4,968 shares of the industrial products company’s stock valued at $864,000 after purchasing an additional 1,889 shares during the last quarter. Finally, Blair William & Co. IL grew its position in shares of Avery Dennison by 2.2% in the first quarter. Blair William & Co. IL now owns 8,215 shares of the industrial products company’s stock valued at $1,429,000 after purchasing an additional 173 shares during the last quarter. 91.09% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Avery Dennison news, Chairman Mitchell R. Butier sold 8,168 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $217.36, for a total value of $1,775,396.48. Following the sale, the chairman now owns 321,487 shares in the company, valued at $69,878,414.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Chairman Mitchell R. Butier sold 8,168 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $217.36, for a total transaction of $1,775,396.48. Following the completion of the sale, the chairman now directly owns 321,487 shares in the company, valued at $69,878,414.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Julia A. Stewart sold 5,311 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $202.26, for a total transaction of $1,074,202.86. Following the sale, the director now owns 5,018 shares of the company’s stock, valued at $1,014,940.68. The disclosure for this sale can be found here. In the last three months, insiders sold 18,479 shares of company stock valued at $3,919,099. Company insiders own 1.10% of the company’s stock.

Avery Dennison Stock Performance

Avery Dennison stock opened at $216.14 on Friday. Avery Dennison Co. has a 12-month low of $158.93 and a 12-month high of $219.57. The company has a market capitalization of $17.40 billion, a price-to-earnings ratio of 34.81, a price-to-earnings-growth ratio of 3.30 and a beta of 0.90. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.04 and a quick ratio of 0.69. The firm’s fifty day moving average price is $204.05 and its 200 day moving average price is $192.05.

Avery Dennison (NYSE:AVYGet Free Report) last released its quarterly earnings results on Wednesday, January 31st. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.16. Avery Dennison had a net margin of 6.01% and a return on equity of 30.97%. The firm had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.10 billion. During the same quarter in the previous year, the firm posted $1.65 EPS. The firm’s quarterly revenue was up 4.2% on a year-over-year basis. On average, research analysts forecast that Avery Dennison Co. will post 9.28 EPS for the current fiscal year.

Avery Dennison Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th will be issued a $0.81 dividend. This represents a $3.24 annualized dividend and a dividend yield of 1.50%. The ex-dividend date is Tuesday, March 5th. Avery Dennison’s dividend payout ratio (DPR) is presently 52.17%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AVY. JPMorgan Chase & Co. raised their target price on shares of Avery Dennison from $185.00 to $218.00 and gave the stock an “overweight” rating in a research report on Thursday, February 1st. UBS Group raised their target price on shares of Avery Dennison from $225.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday, January 11th. Citigroup lowered shares of Avery Dennison from a “buy” rating to a “neutral” rating and raised their target price for the stock from $197.00 to $214.00 in a research report on Wednesday, January 3rd. Raymond James lifted their price target on shares of Avery Dennison from $199.00 to $225.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Finally, Bank of America lowered shares of Avery Dennison from a “buy” rating to an “underperform” rating and set a $208.00 price target on the stock. in a report on Tuesday, January 2nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $218.78.

View Our Latest Research Report on Avery Dennison

Avery Dennison Profile

(Free Report)

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.

Further Reading

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

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