Amalgamated Bank Reduces Holdings in Avery Dennison Co. (NYSE:AVY)

Amalgamated Bank trimmed its position in shares of Avery Dennison Co. (NYSE:AVYGet Rating) by 0.7% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 29,736 shares of the industrial products company’s stock after selling 221 shares during the quarter. Amalgamated Bank’s holdings in Avery Dennison were worth $5,173,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in AVY. Lazard Asset Management LLC increased its position in shares of Avery Dennison by 48.0% during the first quarter. Lazard Asset Management LLC now owns 1,748,006 shares of the industrial products company’s stock worth $304,099,000 after purchasing an additional 566,938 shares in the last quarter. Ceredex Value Advisors LLC purchased a new stake in shares of Avery Dennison during the first quarter worth approximately $78,668,000. Assenagon Asset Management S.A. increased its position in shares of Avery Dennison by 2,434.2% during the first quarter. Assenagon Asset Management S.A. now owns 411,628 shares of the industrial products company’s stock worth $71,611,000 after purchasing an additional 395,385 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Avery Dennison by 17.9% during the first quarter. Victory Capital Management Inc. now owns 2,166,588 shares of the industrial products company’s stock worth $378,475,000 after purchasing an additional 329,447 shares in the last quarter. Finally, Millennium Management LLC grew its holdings in Avery Dennison by 180.7% in the 4th quarter. Millennium Management LLC now owns 353,637 shares of the industrial products company’s stock valued at $76,587,000 after buying an additional 227,637 shares in the last quarter. 90.21% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Anthony Anderson sold 2,800 shares of the stock in a transaction dated Wednesday, September 14th. The stock was sold at an average price of $178.82, for a total transaction of $500,696.00. Following the transaction, the director now owns 1,374 shares of the company’s stock, valued at approximately $245,698.68. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Avery Dennison Stock Performance

Shares of Avery Dennison stock opened at $179.24 on Tuesday. Avery Dennison Co. has a 52 week low of $151.62 and a 52 week high of $229.24. The business’s fifty day simple moving average is $186.05 and its 200-day simple moving average is $175.48. The firm has a market cap of $14.56 billion, a PE ratio of 19.59, a price-to-earnings-growth ratio of 2.49 and a beta of 0.97. The company has a quick ratio of 0.65, a current ratio of 0.98 and a debt-to-equity ratio of 1.29.

Avery Dennison (NYSE:AVYGet Rating) last announced its quarterly earnings results on Wednesday, July 27th. The industrial products company reported $2.64 EPS for the quarter, beating the consensus estimate of $2.37 by $0.27. Avery Dennison had a return on equity of 40.75% and a net margin of 8.48%. The business had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.33 billion. During the same quarter in the prior year, the company posted $2.25 EPS. The company’s quarterly revenue was up 11.7% on a year-over-year basis. Equities analysts forecast that Avery Dennison Co. will post 9.93 earnings per share for the current year.

Avery Dennison Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 21st. Stockholders of record on Wednesday, September 7th will be paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.67%. The ex-dividend date is Tuesday, September 6th. Avery Dennison’s dividend payout ratio (DPR) is presently 32.79%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on AVY. StockNews.com upgraded Avery Dennison from a “hold” rating to a “buy” rating in a report on Thursday, July 28th. UBS Group dropped their target price on Avery Dennison from $195.00 to $180.00 in a report on Wednesday, July 13th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Avery Dennison presently has a consensus rating of “Moderate Buy” and an average target price of $205.57.

Avery Dennison Company Profile

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Avery Dennison Corporation manufactures and markets pressure-sensitive materials and products in the United States, Europe, Asia, Latin America, and internationally. 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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Institutional Ownership by Quarter for Avery Dennison (NYSE:AVY)

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