JB Capital LLC Purchases 1,200 Shares of Avery Dennison Co. (NYSE:AVY)

JB Capital LLC boosted its position in Avery Dennison Co. (NYSE:AVY) by 9.6% in the second quarter, HoldingsChannel reports. The firm owned 13,645 shares of the industrial products company’s stock after buying an additional 1,200 shares during the quarter. JB Capital LLC’s holdings in Avery Dennison were worth $2,984,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AVY. VisionPoint Advisory Group LLC bought a new position in shares of Avery Dennison in the fourth quarter valued at approximately $42,000. 1620 Investment Advisors Inc. purchased a new stake in shares of Avery Dennison during the 2nd quarter valued at $51,000. Palisade Asset Management LLC bought a new stake in shares of Avery Dennison during the 1st quarter worth $64,000. Versant Capital Management Inc boosted its holdings in shares of Avery Dennison by 936.7% in the 2nd quarter. Versant Capital Management Inc now owns 311 shares of the industrial products company’s stock worth $68,000 after buying an additional 281 shares during the last quarter. Finally, Crewe Advisors LLC bought a new position in Avery Dennison during the first quarter valued at about $89,000. Hedge funds and other institutional investors own 94.17% of the company’s stock.

Avery Dennison Price Performance

Shares of Avery Dennison stock traded up $2.86 during trading on Friday, hitting $219.05. The stock had a trading volume of 245,475 shares, compared to its average volume of 450,222. The company has a current ratio of 0.90, a quick ratio of 0.60 and a debt-to-equity ratio of 0.89. Avery Dennison Co. has a 12 month low of $165.21 and a 12 month high of $233.48. The firm has a market cap of $17.65 billion, a price-to-earnings ratio of 31.93, a P/E/G ratio of 1.77 and a beta of 0.88. The business’s 50-day moving average is $216.79 and its 200 day moving average is $217.48.

Avery Dennison (NYSE:AVY) last released 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. Avery Dennison had a return on equity of 33.44% and a net margin of 7.34%. The firm had revenue of $2.24 billion for the quarter, compared to analysts’ expectations of $2.18 billion. During the same quarter last year, the firm posted $1.92 EPS. The company’s revenue was up 6.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Avery Dennison Co. will post 9.39 earnings per share for the current year.

Avery Dennison Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th will be paid a $0.88 dividend. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $3.52 dividend on an annualized basis and a yield of 1.61%. Avery Dennison’s dividend payout ratio is presently 51.39%.

Insider Buying and Selling at Avery Dennison

In other news, insider Ryan D. Yost sold 149 shares of the stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $226.38, for a total transaction of $33,730.62. Following the transaction, the insider now directly owns 2,110 shares in the company, valued at approximately $477,661.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Avery Dennison news, insider Ryan D. Yost sold 149 shares of the business’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $226.38, for a total value of $33,730.62. Following the completion of the sale, the insider now directly owns 2,110 shares of the company’s stock, valued at $477,661.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Ignacio J. Walker sold 2,206 shares of the firm’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $226.70, for a total value of $500,100.20. Following the transaction, the senior vice president now directly owns 7,082 shares in the company, valued at $1,605,489.40. The disclosure for this sale can be found here. Insiders have sold 54,939 shares of company stock worth $11,657,766 over the last 90 days. Corporate insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on AVY. Robert W. Baird lifted their price target on shares of Avery Dennison from $230.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, June 7th. Raymond James reissued an “outperform” rating and issued a $240.00 price objective (up previously from $225.00) on shares of Avery Dennison in a report on Thursday, April 25th. 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 report on Wednesday, May 8th. JPMorgan Chase & Co. lifted their target price on shares of Avery Dennison from $218.00 to $220.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. Finally, BMO Capital Markets cut their price objective on shares of Avery Dennison from $256.00 to $254.00 and set an “outperform” rating for the company in a report on Wednesday, July 24th. One investment 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. According to data from MarketBeat.com, Avery Dennison has a consensus rating of “Moderate Buy” and a consensus price target of $239.96.

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.