Trading Report: The Spectrum Management Group Inc. invests in Avery Dennison Corp. (AVY) Shares

The Spectrum Management Group Inc. invests in Avery Dennison Corp. (AVY) Shares

Spectrum Management Group Inc. increased its stake in shares of Avery Dennison Corp. (NYSE:AVY) by 6,636.4% during the second quarter, Holdings Channel reports. The firm owned 11,115 shares of the company’s stock after buying an additional 10,950 shares during the period. Spectrum Management Group Inc.’s holdings in Avery Dennison Corp. were worth $831,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Springbok Capital Management LLC bought a new stake in shares of Avery Dennison Corp. during the first quarter valued at about $136,000. Financial Architects Inc bought a new stake in shares of Avery Dennison Corp. during the second quarter valued at about $169,000. Whittier Trust Co. boosted its stake in shares of Avery Dennison Corp. by 21.5% in the second quarter. Whittier Trust Co. now owns 2,357 shares of the company’s stock valued at $176,000 after buying an additional 417 shares during the period. Creative Planning boosted its stake in shares of Avery Dennison Corp. by 62.0% in the second quarter. Creative Planning now owns 2,578 shares of the company’s stock valued at $193,000 after buying an additional 987 shares during the period. Finally, Fairfield Bush & CO. bought a new stake in shares of Avery Dennison Corp. during the first quarter valued at about $216,000. Institutional investors and hedge funds own 89.49% of the company’s stock.

Shares of Avery Dennison Corp. (NYSE:AVY) traded up 0.96% on Friday, reaching $76.45. 393,087 shares of the company’s stock traded hands. The firm has a market cap of $6.79 billion, a P/E ratio of 22.79 and a beta of 0.92. Avery Dennison Corp. has a one year low of $57.06 and a one year high of $79.27. The company’s 50-day moving average price is $77.10 and its 200 day moving average price is $75.31.

Avery Dennison Corp. (NYSE:AVY) last issued its quarterly earnings results on Tuesday, July 26th. The company reported $1.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.08. Avery Dennison Corp. had a net margin of 5.18% and a return on equity of 34.82%. The company earned $1.54 billion during the quarter, compared to analyst estimates of $1.54 billion. During the same quarter last year, the business posted $0.91 EPS. Avery Dennison Corp.’s quarterly revenue was up 1.7% compared to the same quarter last year. On average, equities analysts forecast that Avery Dennison Corp. will post $3.94 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 21st. Stockholders of record on Wednesday, September 7th were paid a dividend of $0.41 per share. The ex-dividend date was Friday, September 2nd. This represents a $1.64 annualized dividend and a dividend yield of 2.15%. Avery Dennison Corp.’s payout ratio is currently 48.81%.

Several brokerages recently issued reports on AVY. Zacks Investment Research upgraded Avery Dennison Corp. from a “sell” rating to a “hold” rating and set a $88.00 price target for the company in a research note on Thursday, July 28th. JPMorgan Chase & Co. boosted their price target on Avery Dennison Corp. from $78.00 to $80.00 and gave the company a “neutral” rating in a research note on Wednesday, July 27th. Finally, Bank of America Corp. cut Avery Dennison Corp. from a “buy” rating to an “underperform” rating and set a $75.00 price target for the company. in a research note on Friday, July 1st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $78.00.

In other news, VP Anne Hill sold 11,567 shares of the firm’s stock in a transaction that occurred on Friday, August 12th. The shares were sold at an average price of $78.10, for a total transaction of $903,382.70. Following the completion of the sale, the vice president now owns 36,280 shares in the company, valued at approximately $2,833,468. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director David E. I. Pyott sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $78.61, for a total transaction of $157,220.00. Following the sale, the director now owns 16,058 shares of the company’s stock, valued at approximately $1,262,319.38. The disclosure for this sale can be found here. Insiders own 2.70% of the company’s stock.

About Avery Dennison Corp.

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 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.

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