Concurrent Investment Advisors LLC Has $1.08 Million Holdings in Avery Dennison Co. (NYSE:AVY)

Concurrent Investment Advisors LLC raised its position in shares of Avery Dennison Co. (NYSE:AVY) by 26.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,915 shares of the industrial products company’s stock after purchasing an additional 1,015 shares during the period. Concurrent Investment Advisors LLC’s holdings in Avery Dennison were worth $1,075,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of AVY. Taylor Frigon Capital Management LLC lifted its stake in Avery Dennison by 0.8% in the 1st quarter. Taylor Frigon Capital Management LLC now owns 6,386 shares of the industrial products company’s stock valued at $1,426,000 after purchasing an additional 48 shares during the last quarter. Albert D Mason Inc. increased its stake in shares of Avery Dennison by 0.7% in the first quarter. Albert D Mason Inc. now owns 7,456 shares of the industrial products company’s stock valued at $1,665,000 after buying an additional 51 shares during the period. First Trust Direct Indexing L.P. raised its position in shares of Avery Dennison by 5.0% during the fourth quarter. First Trust Direct Indexing L.P. now owns 1,198 shares of the industrial products company’s stock worth $242,000 after acquiring an additional 57 shares during the last quarter. Condor Capital Management lifted its stake in shares of Avery Dennison by 0.4% in the fourth quarter. Condor Capital Management now owns 13,716 shares of the industrial products company’s stock worth $2,773,000 after acquiring an additional 60 shares during the period. Finally, Bailard Inc. increased its position in Avery Dennison by 0.5% during the 2nd quarter. Bailard Inc. now owns 12,202 shares of the industrial products company’s stock valued at $2,668,000 after purchasing an additional 61 shares during the period. 94.17% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Argus upped their price objective on shares of Avery Dennison from $240.00 to $245.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Citigroup increased their price target on Avery Dennison from $230.00 to $241.00 and gave the stock a “neutral” rating in a report on Monday, July 8th. Robert W. Baird boosted their price objective on Avery Dennison from $230.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, June 7th. Stifel Nicolaus began coverage on Avery Dennison in a research note on Tuesday, July 9th. They set a “buy” rating and a $274.60 target price for the company. Finally, UBS Group cut Avery Dennison from a “buy” rating to a “neutral” rating and cut their price target for the stock from $262.00 to $235.00 in a report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $239.96.

Avery Dennison Stock Up 1.5 %

Avery Dennison stock opened at $221.85 on Monday. The company has a current ratio of 0.90, a quick ratio of 0.60 and a debt-to-equity ratio of 0.89. The firm’s fifty day moving average price is $215.83 and its two-hundred day moving average price is $218.37. The firm has a market capitalization of $17.86 billion, a price-to-earnings ratio of 32.39, a price-to-earnings-growth ratio of 1.84 and a beta of 0.88. Avery Dennison Co. has a 1-year low of $165.21 and a 1-year high of $233.48.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $2.42 earnings per share for the quarter, beating the consensus estimate of $2.26 by $0.16. The business had revenue of $2.24 billion for the quarter, compared to analysts’ expectations of $2.18 billion. Avery Dennison had a net margin of 7.34% and a return on equity of 33.44%. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.92 EPS. On average, equities research analysts predict that Avery Dennison Co. will post 9.41 earnings per share for the current fiscal year.

Avery Dennison Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th will be given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date is Wednesday, September 4th. Avery Dennison’s payout ratio is currently 51.39%.

Insider Buying and Selling at Avery Dennison

In other news, Chairman Mitchell R. Butier sold 10,000 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $213.75, for a total value of $2,137,500.00. Following the completion of the sale, the chairman now owns 304,114 shares in the company, valued at approximately $65,004,367.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Chairman Mitchell R. Butier sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $213.75, for a total value of $2,137,500.00. Following the transaction, the chairman now owns 304,114 shares in the company, valued at approximately $65,004,367.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Mitchell R. Butier sold 3,000 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $202.95, for a total value of $608,850.00. Following the sale, the chairman now directly owns 304,114 shares of the company’s stock, valued at $61,719,936.30. The disclosure for this sale can be found here. In the last three months, insiders have sold 61,314 shares of company stock worth $13,045,187. Corporate insiders own 1.10% of the company’s stock.

About Avery Dennison

Avery Dennison Corporation operates as a materials science and digital identification solutions company in the United States, Europe, the Middle East, North Africa, Asia, Latin, America, and internationally. It provides pressure-sensitive materials comprising papers, plastic films, metal foils, and fabrics; performance tapes products, including tapes for wire harnessing, as well as cable wrapping for automotive, electrical, and general industrial applications; mechanical fasteners, which are precision-extruded and injection-molded plastic devices used in various automotive, general industrial, and retail applications; and other pressure-sensitive adhesive-based materials and converted products under the Fasson, JAC, Yongle, and Avery Dennison brands.