GYL Financial Synergies LLC acquired a new position in shares of Avery Dennison Corp (NYSE:AVY) in the first quarter, Holdings Channel reports. The fund acquired 7,905 shares of the industrial products company’s stock, valued at approximately $893,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of AVY. Wealthcare Advisory Partners LLC increased its position in shares of Avery Dennison by 90.7% in the fourth quarter. Wealthcare Advisory Partners LLC now owns 286 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 136 shares during the period. Rockefeller Capital Management L.P. increased its holdings in Avery Dennison by 73.8% during the first quarter. Rockefeller Capital Management L.P. now owns 226 shares of the industrial products company’s stock valued at $26,000 after buying an additional 96 shares during the last quarter. CSat Investment Advisory L.P. increased its stake in shares of Avery Dennison by 60.8% in the fourth quarter. CSat Investment Advisory L.P. now owns 341 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 129 shares in the last quarter. Icon Wealth Partners LLC purchased a new stake in shares of Avery Dennison in the first quarter worth $36,000. Finally, Penserra Capital Management LLC purchased a new stake in shares of Avery Dennison in the fourth quarter worth $40,000. 88.20% of the stock is owned by institutional investors.
AVY stock traded down $1.04 during trading on Friday, hitting $110.01. 1,733 shares of the company’s stock traded hands, compared to its average volume of 655,858. Avery Dennison Corp has a 52 week low of $82.89 and a 52 week high of $117.00. The company has a quick ratio of 0.80, a current ratio of 1.14 and a debt-to-equity ratio of 1.77. The firm has a market capitalization of $9.44 billion, a P/E ratio of 18.15, a price-to-earnings-growth ratio of 2.07 and a beta of 1.33.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 19th. Stockholders of record on Wednesday, June 5th will be issued a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 2.11%. The ex-dividend date is Tuesday, June 4th. This is a positive change from Avery Dennison’s previous quarterly dividend of $0.52. Avery Dennison’s dividend payout ratio (DPR) is 38.28%.
In other news, Director Ken C. Hicks sold 9,691 shares of the firm’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $110.10, for a total value of $1,066,979.10. Following the sale, the director now directly owns 28,396 shares in the company, valued at approximately $3,126,399.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Lori J. Bondar sold 2,725 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $113.27, for a total transaction of $308,660.75. Following the completion of the sale, the vice president now owns 18,041 shares in the company, valued at $2,043,504.07. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.
A number of analysts have recently issued reports on the stock. KeyCorp reissued a “hold” rating on shares of Avery Dennison in a research note on Wednesday, April 24th. JPMorgan Chase & Co. cut shares of Avery Dennison from a “neutral” rating to an “underweight” rating and set a $105.00 price objective for the company. in a research note on Thursday, April 18th. Zacks Investment Research cut shares of Avery Dennison from a “buy” rating to a “hold” rating in a research note on Monday, April 8th. Finally, Loop Capital cut shares of Avery Dennison from a “buy” rating to a “hold” rating in a research note on Wednesday, March 20th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $118.00.
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Avery Dennison Company Profile
Avery Dennison Corporation produces and sells pressure-sensitive materials worldwide. 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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