Tower Research Capital LLC TRC Boosts Stock Position in Avery Dennison Corp (NYSE:AVY)

Posted by Scott Davis on Nov 18th, 2019

Tower Research Capital LLC TRC grew its stake in shares of Avery Dennison Corp (NYSE:AVY) by 71.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,652 shares of the industrial products company’s stock after acquiring an additional 1,523 shares during the period. Tower Research Capital LLC TRC’s holdings in Avery Dennison were worth $415,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of AVY. Private Trust Co. NA increased its stake in shares of Avery Dennison by 4.1% in the second quarter. Private Trust Co. NA now owns 10,848 shares of the industrial products company’s stock worth $1,254,000 after acquiring an additional 428 shares during the period. Crossmark Global Holdings Inc. increased its stake in shares of Avery Dennison by 3.3% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 6,912 shares of the industrial products company’s stock valued at $800,000 after purchasing an additional 221 shares during the last quarter. Retirement Systems of Alabama increased its stake in shares of Avery Dennison by 0.7% in the 2nd quarter. Retirement Systems of Alabama now owns 39,366 shares of the industrial products company’s stock valued at $4,554,000 after purchasing an additional 261 shares during the last quarter. Campbell & CO Investment Adviser LLC increased its stake in shares of Avery Dennison by 83.9% in the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 3,599 shares of the industrial products company’s stock valued at $416,000 after purchasing an additional 1,642 shares during the last quarter. Finally, CHURCHILL MANAGEMENT Corp increased its stake in shares of Avery Dennison by 23.2% in the 2nd quarter. CHURCHILL MANAGEMENT Corp now owns 29,209 shares of the industrial products company’s stock valued at $3,379,000 after purchasing an additional 5,493 shares during the last quarter. Hedge funds and other institutional investors own 86.45% of the company’s stock.

In other news, CAO Lori J. Bondar sold 4,213 shares of Avery Dennison stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $114.63, for a total value of $482,936.19. Following the completion of the transaction, the chief accounting officer now directly owns 21,641 shares of the company’s stock, valued at approximately $2,480,707.83. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Anthony Anderson sold 2,150 shares of Avery Dennison stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $114.54, for a total value of $246,261.00. Following the completion of the transaction, the director now directly owns 2,862 shares of the company’s stock, valued at $327,813.48. The disclosure for this sale can be found here. Insiders have sold a total of 19,781 shares of company stock worth $2,418,877 over the last ninety days. Company insiders own 1.30% of the company’s stock.

AVY has been the topic of several recent research reports. UBS Group cut their price objective on Avery Dennison from $130.00 to $129.00 and set a “buy” rating on the stock in a report on Friday, September 13th. Zacks Investment Research raised Avery Dennison from a “sell” rating to a “hold” rating and set a $134.00 price objective on the stock in a report on Friday, October 25th. KeyCorp reissued a “hold” rating on shares of Avery Dennison in a report on Friday, September 13th. Citigroup downgraded Avery Dennison from a “buy” rating to a “neutral” rating and raised their price objective for the company from $132.00 to $136.00 in a report on Thursday, October 24th. Finally, Berenberg Bank initiated coverage on Avery Dennison in a report on Thursday, August 15th. They set a “buy” rating and a $130.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $126.00.

Shares of AVY opened at $132.08 on Monday. The company has a market capitalization of $11.01 billion, a PE ratio of 21.80, a PEG ratio of 2.44 and a beta of 1.32. Avery Dennison Corp has a 12 month low of $82.89 and a 12 month high of $134.56. The stock’s 50-day moving average price is $120.93 and its two-hundred day moving average price is $113.87. The company has a current ratio of 1.03, a quick ratio of 0.74 and a debt-to-equity ratio of 1.40.

Avery Dennison (NYSE:AVY) last announced its earnings results on Wednesday, October 23rd. The industrial products company reported $1.66 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.61 by $0.05. The firm had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.75 billion. Avery Dennison had a return on equity of 53.79% and a net margin of 3.37%. The business’s quarterly revenue was up .0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.45 EPS. Equities research analysts predict that Avery Dennison Corp will post 6.55 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 1.76%. The ex-dividend date is Tuesday, December 3rd. Avery Dennison’s payout ratio is presently 38.28%.

Avery Dennison 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.

Tower Research Capital LLC TRC Boosts Stock Position in Avery Dennison Corp (NYSE:AVY)

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