Charter Trust Co. Has $653,000 Position in Avery Dennison Corporation (NYSE:AVY)

Charter Trust Co. reduced its stake in shares of Avery Dennison Corporation (NYSE:AVY) by 0.1% during the second quarter, Holdings Channel reports. The fund owned 7,385 shares of the industrial products company’s stock after selling 11 shares during the period. Charter Trust Co.’s holdings in Avery Dennison Corporation were worth $653,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in AVY. Macquarie Group Ltd. boosted its position in Avery Dennison Corporation by 314.8% in the fourth quarter. Macquarie Group Ltd. now owns 11,200 shares of the industrial products company’s stock valued at $787,000 after buying an additional 8,500 shares in the last quarter. Achmea Investment Management B.V. purchased a new position in Avery Dennison Corporation during the first quarter valued at approximately $2,696,000. JPMorgan Chase & Co. boosted its position in Avery Dennison Corporation by 43.6% in the first quarter. JPMorgan Chase & Co. now owns 572,631 shares of the industrial products company’s stock valued at $46,155,000 after buying an additional 173,901 shares in the last quarter. Atlantic Trust Group LLC boosted its position in Avery Dennison Corporation by 0.7% in the first quarter. Atlantic Trust Group LLC now owns 10,766 shares of the industrial products company’s stock valued at $867,000 after buying an additional 78 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in Avery Dennison Corporation by 39.7% in the first quarter. Principal Financial Group Inc. now owns 835,826 shares of the industrial products company’s stock valued at $67,368,000 after buying an additional 237,381 shares in the last quarter. 88.49% of the stock is currently owned by institutional investors and hedge funds.

Shares of Avery Dennison Corporation (NYSE:AVY) traded up 0.77% during mid-day trading on Monday, hitting $91.48. 371,438 shares of the stock were exchanged. The stock’s 50-day moving average price is $85.03 and its 200-day moving average price is $79.72. The company has a market cap of $8.10 billion, a P/E ratio of 24.02 and a beta of 1.18. Avery Dennison Corporation has a 52-week low of $68.55 and a 52-week high of $91.50.

Avery Dennison Corporation (NYSE:AVY) last issued its quarterly earnings results on Wednesday, April 26th. The industrial products company reported $1.11 EPS for the quarter, topping the consensus estimate of $1.04 by $0.07. The company had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.53 billion. Avery Dennison Corporation had a net margin of 5.56% and a return on equity of 38.48%. The firm’s revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.94 EPS. Equities research analysts anticipate that Avery Dennison Corporation will post $4.60 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 21st. Stockholders of record on Wednesday, June 7th were issued a dividend of $0.45 per share. This is a positive change from Avery Dennison Corporation’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Monday, June 5th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.98%. Avery Dennison Corporation’s dividend payout ratio is presently 47.37%.

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Several equities research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Avery Dennison Corporation from a “hold” rating to a “buy” rating and set a $97.00 price target for the company in a research note on Wednesday, June 21st. BidaskClub lowered shares of Avery Dennison Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 9th. Aegis restated a “hold” rating on shares of Avery Dennison Corporation in a research report on Thursday, June 1st. KeyCorp restated a “hold” rating on shares of Avery Dennison Corporation in a research report on Wednesday, April 26th. Finally, Barclays PLC restated an “overweight” rating and set a $96.00 price target (up from $95.00) on shares of Avery Dennison Corporation in a research report on Monday, May 1st. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Avery Dennison Corporation presently has an average rating of “Buy” and an average target price of $88.40.

In related news, Director Anthony Anderson sold 6,248 shares of the company’s stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $85.15, for a total value of $532,017.20. Following the completion of the sale, the director now owns 1,244 shares of the company’s stock, valued at $105,926.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Deon Stander sold 5,000 shares of the company’s stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $84.50, for a total transaction of $422,500.00. Following the completion of the sale, the vice president now directly owns 10,998 shares of the company’s stock, valued at approximately $929,331. The disclosure for this sale can be found here. Insiders have sold 12,198 shares of company stock valued at $1,034,716 in the last ninety days. Insiders own 1.40% of the company’s stock.

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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