Middleton & Co Inc MA Reduces Stock Position in Avery Dennison Corp (NYSE:AVY)

Middleton & Co Inc MA lowered its stake in shares of Avery Dennison Corp (NYSE:AVY) by 1.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,125 shares of the industrial products company’s stock after selling 170 shares during the period. Middleton & Co Inc MA’s holdings in Avery Dennison were worth $1,403,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Hartford Investment Management Co. increased its holdings in shares of Avery Dennison by 1.1% in the second quarter. Hartford Investment Management Co. now owns 10,239 shares of the industrial products company’s stock worth $1,184,000 after purchasing an additional 108 shares during the period. Squar Milner Financial Services LLC increased its holdings in shares of Avery Dennison by 5.8% in the second quarter. Squar Milner Financial Services LLC now owns 1,739 shares of the industrial products company’s stock worth $201,000 after purchasing an additional 95 shares during the period. First Quadrant L P CA bought a new position in shares of Avery Dennison in the second quarter worth $699,000. Commerzbank Aktiengesellschaft FI bought a new position in shares of Avery Dennison in the second quarter worth $216,000. Finally, State of Alaska Department of Revenue increased its holdings in shares of Avery Dennison by 1.1% in the second quarter. State of Alaska Department of Revenue now owns 17,108 shares of the industrial products company’s stock worth $1,978,000 after purchasing an additional 190 shares during the period. Hedge funds and other institutional investors own 87.43% of the company’s stock.

In other news, Director Bradley A. Alford sold 5,027 shares of the firm’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $117.16, for a total transaction of $588,963.32. Following the transaction, the director now directly owns 22,827 shares of the company’s stock, valued at $2,674,411.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Georges Gravanis sold 2,500 shares of the firm’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $116.88, for a total value of $292,200.00. Following the transaction, the insider now directly owns 13,637 shares in the company, valued at $1,593,892.56. The disclosure for this sale can be found here. In the last three months, insiders sold 75,252 shares of company stock worth $8,721,924. 1.30% of the stock is owned by insiders.

Several research analysts have recently weighed in on the stock. KeyCorp reaffirmed a “hold” rating on shares of Avery Dennison in a report on Wednesday, April 24th. Citigroup increased their target price on Avery Dennison from $130.00 to $132.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. JPMorgan Chase & Co. increased their target price on Avery Dennison from $105.00 to $111.00 and gave the company an “underweight” rating in a research note on Wednesday, July 24th. Bank of America cut Avery Dennison from a “buy” rating to a “neutral” rating and set a $115.06 target price on the stock. in a research note on Friday, July 12th. Finally, Zacks Investment Research cut Avery Dennison from a “buy” rating to a “hold” rating in a research note on Monday, April 8th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. Avery Dennison has an average rating of “Hold” and an average price target of $120.13.

AVY opened at $110.87 on Monday. The company has a market capitalization of $9.33 billion, a PE ratio of 18.30, a PEG ratio of 2.04 and a beta of 1.32. The company has a current ratio of 1.04, a quick ratio of 0.75 and a debt-to-equity ratio of 1.41. Avery Dennison Corp has a 52 week low of $82.89 and a 52 week high of $120.65. The company has a fifty day moving average price of $114.56.

Avery Dennison (NYSE:AVY) last released its earnings results on Tuesday, July 23rd. The industrial products company reported $1.72 EPS for the quarter, beating the Zacks’ consensus estimate of $1.68 by $0.04. The business had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.83 billion. Avery Dennison had a return on equity of 52.67% and a net margin of 3.44%. The firm’s revenue was down 3.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.66 earnings per share. As a group, equities research analysts predict that Avery Dennison Corp will post 6.57 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th will be paid a $0.58 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $2.32 dividend on an annualized basis and a yield of 2.09%. Avery Dennison’s dividend payout ratio is presently 38.28%.

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

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