2,815 Shares in Avery Dennison Corporation (AVY) Acquired by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. bought a new stake in Avery Dennison Corporation (NYSE:AVY) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,815 shares of the industrial products company’s stock, valued at approximately $249,000.

Several other large investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. grew its stake in shares of Avery Dennison Corporation by 3,215.2% in the first quarter. BlackRock Inc. now owns 6,908,540 shares of the industrial products company’s stock valued at $556,829,000 after buying an additional 6,700,152 shares in the last quarter. State Street Corp grew its stake in shares of Avery Dennison Corporation by 0.4% in the first quarter. State Street Corp now owns 4,547,664 shares of the industrial products company’s stock valued at $366,525,000 after buying an additional 19,238 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of Avery Dennison Corporation by 21.3% in the second quarter. Victory Capital Management Inc. now owns 1,937,495 shares of the industrial products company’s stock valued at $171,216,000 after buying an additional 340,139 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Avery Dennison Corporation by 110.5% in the second quarter. Principal Financial Group Inc. now owns 1,759,374 shares of the industrial products company’s stock valued at $155,476,000 after buying an additional 923,548 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Avery Dennison Corporation by 10.4% in the first quarter. Geode Capital Management LLC now owns 1,004,783 shares of the industrial products company’s stock valued at $80,884,000 after buying an additional 94,645 shares in the last quarter. 86.65% of the stock is owned by institutional investors and hedge funds.

In other Avery Dennison Corporation news, Director David E. I. Pyott sold 298 shares of the company’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $94.00, for a total value of $28,012.00. Following the completion of the transaction, the director now owns 16,601 shares in the company, valued at approximately $1,560,494. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David E. I. Pyott sold 2,000 shares of the company’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $94.00, for a total value of $188,000.00. Following the completion of the transaction, the director now owns 16,601 shares of the company’s stock, valued at approximately $1,560,494. The disclosure for this sale can be found here. Insiders sold a total of 12,298 shares of company stock valued at $1,152,312 in the last 90 days. Corporate insiders own 1.40% of the company’s stock.

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Several equities analysts recently weighed in on AVY shares. Zacks Investment Research cut shares of Avery Dennison Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, May 25th. Aegis reaffirmed a “hold” rating on shares of Avery Dennison Corporation in a research report on Thursday, June 1st. BidaskClub cut shares of Avery Dennison Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 9th. Bank of America Corporation raised shares of Avery Dennison Corporation from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $90.00 to $96.00 in a research report on Tuesday, June 20th. Finally, Citigroup Inc. lifted their price objective on shares of Avery Dennison Corporation from $106.00 to $108.00 and gave the stock a “buy” rating in a research report on Wednesday, July 26th. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $92.86.

Avery Dennison Corporation (AVY) opened at 98.50 on Wednesday. The company has a market capitalization of $8.71 billion, a PE ratio of 23.14 and a beta of 1.18. The firm’s 50-day moving average is $94.02 and its 200-day moving average is $87.03. Avery Dennison Corporation has a 52-week low of $68.55 and a 52-week high of $99.26.

Avery Dennison Corporation (NYSE:AVY) last announced its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.10. The firm had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.61 billion. Avery Dennison Corporation had a return on equity of 39.29% and a net margin of 6.14%. The business’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.09 EPS. On average, equities research analysts forecast that Avery Dennison Corporation will post $4.83 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Wednesday, September 6th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Friday, September 1st. This represents a $1.80 dividend on an annualized basis and a yield of 1.83%. Avery Dennison Corporation’s dividend payout ratio (DPR) is presently 42.25%.

About Avery Dennison Corporation

Avery Dennison Corporation (Avery Dennison) is engaged in the production of pressure-sensitive materials and a range of tickets, tags, labels and other converted products. The Company’s segments include Label and Graphic Materials (LGM); Retail Branding and Information Solutions (RBIS), and Industrial and Healthcare Materials (IHM).

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

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