Shares are trading at $93.22 a tad higher than the 50 day moving average of $85.03 and which is marginally over the 200 day moving average of $79.72. The 50 day moving average moved up $8.19 and the 200 day average moved up $13.50. Trading volume for Avery Dennison Corporation was 691K in the last trading session. Overall, volume was down 34.43% under the stocks normal daily volume.
Avery Dennison Corporation (NYSE:AVY) has been the object of insider selling activity recently. VP/General Manager, RBIS Deon Stander let go of 5,000 shares at an average price of $84.50 on Tue the 30th. That brings Stander’s holdings to $929,331 per an SEC filing yesterday. Anthony Anderson, Director let go of $80,199 worth of shares at an average price of $84.42 on Tue the 16th. That brings the Director’s holdings to $632,475 as recorded in a recent Form 4 SEC filing.
President, LGM Georges Gravanis sold 22,571 shares at an average price of $83.11 on April 28th. Gravanis now owns $0 of stock as reported to the SEC.
The following firms have also recently changed their position in AVY. Piedmont Investment Advisors LLC augmented its stake by buying 17,991 shares an increase of 7,000.4% from 12/31/2016 to 03/31/2017. Piedmont Investment Advisors LLC controls 18,248 shares with a value of $1,471,000. The value of the position overall is up by 8,072.2%. Proficio Capital Partners LLC grew its holdings by buying 212 shares an increase of 59.7% as of 03/31/2017. Proficio Capital Partners LLC currently owns 567 shares valued at $47,000. The total value of its holdings increased 88.0%.
Morgan Stanley expanded its investment by buying 79,170 shares an increase of 519.6% in the quarter. Morgan Stanley now holds 94,407 shares worth $7,609,000. The value of the position overall is up by 611.1%. As of the end of the quarter Winton Group Ltd had sold a total of 5,038 shares trimming its stake by 16.6%. The value of the investment in Avery Dennison Corporation went from $2,131,000 to $2,040,000 decreasing 4.3% quarter over quarter.
On June 20 the company was upgraded to “Buy” from “Neutral” by Bank of America. On December 7 the stock rating was upgraded from “Underperform” to “Neutral” in a statement from Bank of America.
On November 21, 2016 Aegis Capital starting coverage on AVY setting a rating of “Hold”. On October 27 the stock rating was downgraded from “Neutral” to “Overweight” in a report from JP Morgan.
On October 17 Citigroup left the company rating at “Neutral” and moved up the price target to $81.00 from $61.00. July 27 investment analysts at JP Morgan maintained a stock rating of “Neutral” and raised the price target from $78.00 to $80.00.
The company is trading up from yesterday’s close of $91.75. Additionally the company recently announced a dividend which was paid on Wednesday June 21st, 2017. The dividend payment was $0.450 per share for the quarter or $1.80 on an annualized basis. The dividend yield was $1.97. The ex-dividend date was Monday the 5th of June 2017.
The P/E ratio is currently 24.48 and the market value is 8.26B. In the last earnings report the EPS was $3.81 and is projected to be $4.60 for the current year with 88,557,000 shares now outstanding. Next quarter’s EPS is expected be $1.15 and the next full year EPS is anticipated to be $5.04.
Avery Dennison Corporation (Avery Dennison), launched on February 23, 1977, is involved in the production of pressure-sensitive materials and a range of tickets, tags, labels and other converted products. The Business’s segments include Label and Graphic Materials (LGM); Retail Branding and Information Solutions (RBIS), and Industrial and Healthcare Materials (IHM). Some pressure-sensitive materials are sold to label printers and converters that convert the materials into labels and other products through embossing, printing, stamping and die-cutting. Some materials are sold by it in converted form as tapes and reflective sheeting. The Company also manufactures and sells a range of other converted products and items not involving pressure-sensitive components, such as fasteners, tickets, tags, radio-frequency identification (RFID) inlays and tags, and imprinting equipment and related services, which the Company markets to retailers, apparel manufacturers, and brand owners. As of December 31, 2016, the Company operated approximately 180 manufacturing and distribution facilities and had operations in over 50 countries..