Axa S.A. increased its position in Avery Dennison Co. (NYSE:AVY) by 42.1% in the second quarter, HoldingsChannel reports. The firm owned 30,711 shares of the industrial products company’s stock after acquiring an additional 9,100 shares during the period. Axa S.A.’s holdings in Avery Dennison were worth $6,456,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of AVY. Stonebridge Capital Advisors LLC acquired a new position in Avery Dennison in the 1st quarter worth approximately $25,000. MCF Advisors LLC acquired a new position in Avery Dennison in the 2nd quarter worth approximately $28,000. Bbva USA acquired a new position in Avery Dennison in the 2nd quarter worth approximately $48,000. Barrett Asset Management LLC acquired a new position in Avery Dennison in the 1st quarter worth approximately $56,000. Finally, Ameritas Investment Company LLC acquired a new position in Avery Dennison in the 1st quarter worth approximately $56,000. 87.04% of the stock is owned by hedge funds and other institutional investors.
Avery Dennison stock opened at $205.42 on Thursday. The company has a market capitalization of $17.03 billion, a P/E ratio of 23.45, a P/E/G ratio of 3.58 and a beta of 1.00. Avery Dennison Co. has a 1-year low of $129.39 and a 1-year high of $228.88. The company has a current ratio of 1.32, a quick ratio of 0.92 and a debt-to-equity ratio of 1.19. The firm’s fifty day simple moving average is $217.20 and its 200-day simple moving average is $211.44.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 15th. Stockholders of record on Wednesday, September 1st were issued a dividend of $0.68 per share. The ex-dividend date of this dividend was Tuesday, August 31st. This represents a $2.72 annualized dividend and a dividend yield of 1.32%. Avery Dennison’s payout ratio is 38.31%.
In other news, VP Ignacio J. Walker sold 477 shares of the business’s stock in a transaction dated 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 owns 3,850 shares in the company, valued at approximately $872,641. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.00% of the company’s stock.
A number of equities analysts recently commented on AVY shares. Zacks Investment Research lowered shares of Avery Dennison from a “buy” rating to a “hold” rating and set a $226.00 price objective for the company. in a research note on Monday, August 9th. Morgan Stanley lifted their target price on shares of Avery Dennison from $215.00 to $225.00 and gave the company an “equal weight” rating in a research note on Monday, August 2nd. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $223.73.
Avery Dennison Company 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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