Lombard Odier Asset Management Europe Ltd Makes New $2.30 Million Investment in Avery Dennison Co. (NYSE:AVY)

Lombard Odier Asset Management Europe Ltd bought a new stake in Avery Dennison Co. (NYSE:AVY) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 10,526 shares of the industrial products company’s stock, valued at approximately $2,302,000.

A number of other large investors also recently made changes to their positions in AVY. Innealta Capital LLC acquired a new position in Avery Dennison in the 2nd quarter valued at $28,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of Avery Dennison in the second quarter valued at about $42,000. 1620 Investment Advisors Inc. bought a new position in Avery Dennison during the second quarter worth about $51,000. Palisade Asset Management LLC acquired a new stake in Avery Dennison in the 1st quarter worth about $64,000. Finally, Versant Capital Management Inc boosted its holdings in Avery Dennison by 936.7% in the 2nd quarter. Versant Capital Management Inc now owns 311 shares of the industrial products company’s stock valued at $68,000 after purchasing an additional 281 shares during the period. Institutional investors own 94.17% of the company’s stock.

Avery Dennison Stock Up 1.9 %

Shares of NYSE AVY opened at $215.69 on Tuesday. The company has a market cap of $17.37 billion, a price-to-earnings ratio of 31.49, a PEG ratio of 1.81 and a beta of 0.88. 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 stock has a 50-day moving average price of $215.50 and a two-hundred day moving average price of $218.85.

Avery Dennison (NYSE:AVY) last released its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.26 by $0.16. Avery Dennison had a net margin of 7.34% and a return on equity of 33.44%. The business had revenue of $2.24 billion during the quarter, compared to analysts’ expectations of $2.18 billion. During the same period in the prior year, the company earned $1.92 EPS. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. As a group, analysts forecast that Avery Dennison Co. will post 9.41 earnings per share for the current fiscal year.

Avery Dennison Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th were issued a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 1.63%. The ex-dividend date was Wednesday, September 4th. Avery Dennison’s dividend payout ratio (DPR) is 51.39%.

Insider Buying and Selling

In other Avery Dennison news, Chairman Mitchell R. Butier sold 3,000 shares of the stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $202.95, for a total value of $608,850.00. Following the completion of the transaction, the chairman now directly owns 304,114 shares in the company, valued at $61,719,936.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Chairman Mitchell R. Butier sold 10,000 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $212.90, for a total value of $2,129,000.00. Following the completion of the sale, the chairman now directly owns 304,114 shares in the company, valued at $64,745,870.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Mitchell R. Butier sold 3,000 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $202.95, for a total value of $608,850.00. Following the transaction, 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. Insiders have sold 59,108 shares of company stock worth $12,545,087 in the last 90 days. Insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on AVY shares. Citigroup raised their target price on shares of Avery Dennison from $230.00 to $241.00 and gave the stock a “neutral” rating in a report on Monday, July 8th. UBS Group cut Avery Dennison from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $262.00 to $235.00 in a report on Thursday, July 25th. Robert W. Baird increased their target price on Avery Dennison from $230.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, June 7th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $252.00 price target (down previously from $254.00) on shares of Avery Dennison in a research note on Thursday, September 19th. Finally, Stifel Nicolaus started coverage on shares of Avery Dennison in a research note on Tuesday, July 9th. They set a “buy” rating and a $274.60 price objective on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $242.36.

Avery Dennison Profile

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.