Adams Natural Resources Fund Inc. Purchases New Position in Avery Dennison Corp (AVY)

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Adams Natural Resources Fund Inc. purchased a new position in shares of Avery Dennison Corp (NYSE:AVY) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 12,800 shares of the industrial products company’s stock, valued at approximately $1,387,000.

A number of other large investors also recently made changes to their positions in the stock. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in Avery Dennison by 3.8% during the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 12,435 shares of the industrial products company’s stock worth $1,270,000 after acquiring an additional 460 shares in the last quarter. Private Trust Co. NA raised its stake in Avery Dennison by 5.1% during the 2nd quarter. Private Trust Co. NA now owns 10,365 shares of the industrial products company’s stock worth $1,058,000 after acquiring an additional 500 shares in the last quarter. Dynamic Technology Lab Private Ltd raised its stake in Avery Dennison by 17.5% during the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 3,409 shares of the industrial products company’s stock worth $348,000 after acquiring an additional 508 shares in the last quarter. Metropolitan Life Insurance Co. NY raised its stake in Avery Dennison by 3.0% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 17,609 shares of the industrial products company’s stock worth $1,798,000 after acquiring an additional 511 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its stake in Avery Dennison by 2.5% during the 2nd quarter. Janney Montgomery Scott LLC now owns 22,174 shares of the industrial products company’s stock worth $2,264,000 after acquiring an additional 534 shares in the last quarter. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Several equities research analysts recently commented on AVY shares. Zacks Investment Research lowered shares of Avery Dennison from a “hold” rating to a “sell” rating in a research note on Friday, October 5th. Barclays lifted their price objective on shares of Avery Dennison from $130.00 to $135.00 and gave the company an “overweight” rating in a research note on Monday, July 30th. Loop Capital upgraded shares of Avery Dennison from a “hold” rating to a “buy” rating and set a $124.00 price objective on the stock in a research note on Thursday, September 13th. Citigroup dropped their price objective on shares of Avery Dennison from $130.00 to $128.00 and set a “buy” rating on the stock in a research note on Thursday, October 11th. Finally, KeyCorp restated a “hold” rating on shares of Avery Dennison in a research note on Tuesday, October 23rd. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $120.25.

NYSE AVY opened at $90.59 on Wednesday. The company has a current ratio of 1.00, a quick ratio of 0.71 and a debt-to-equity ratio of 1.24. The firm has a market capitalization of $7.70 billion, a price-to-earnings ratio of 18.12, a price-to-earnings-growth ratio of 2.08 and a beta of 1.26. Avery Dennison Corp has a one year low of $86.06 and a one year high of $123.67.

Avery Dennison (NYSE:AVY) last posted its quarterly earnings data on Tuesday, October 23rd. The industrial products company reported $1.45 EPS for the quarter, missing analysts’ consensus estimates of $1.47 by ($0.02). The business had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.75 billion. Avery Dennison had a net margin of 4.36% and a return on equity of 49.86%. The company’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.26 earnings per share. Equities analysts anticipate that Avery Dennison Corp will post 6.04 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 19th. Stockholders of record on Wednesday, December 5th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 2.30%. The ex-dividend date is Tuesday, December 4th. Avery Dennison’s payout ratio is 41.60%.

In other news, Director Anthony Anderson sold 1,275 shares of Avery Dennison stock in a transaction dated Friday, September 7th. The shares were sold at an average price of $104.75, for a total value of $133,556.25. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 1.30% of the stock is owned by insiders.

About Avery Dennison

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. It also offers durable cast and reflective films.

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Institutional Ownership by Quarter for Avery Dennison (NYSE:AVY)

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