Re Advisers Corp buys $179.1 Million stake in Avery Dennison Corp (AVY)

Avery Dennison Corp (AVY) : Re Advisers Corp scooped up 2,161,600 additional shares in Avery Dennison Corp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 2,369,600 shares of Avery Dennison Corp which is valued at $179.1 Million.Avery Dennison Corp makes up approximately 3.18% of Re Advisers Corp’s portfolio.

Other Hedge Funds, Including , Renaissance Technologies boosted its stake in AVY in the latest quarter, The investment management firm added 206,400 additional shares and now holds a total of 771,900 shares of Avery Dennison Corp which is valued at $58.3 Million. Avery Dennison Corp makes up approx 0.11% of Renaissance Technologies’s portfolio.Meiji Yasuda Life Insurance Co boosted its stake in AVY in the latest quarter, The investment management firm added 1,100 additional shares and now holds a total of 5,990 shares of Avery Dennison Corp which is valued at $452,724. Avery Dennison Corp makes up approx 0.07% of Meiji Yasuda Life Insurance Co’s portfolio. Massmutual Trust Co Fsbadv sold out all of its stake in AVY during the most recent quarter. The investment firm sold 12 shares of AVY which is valued $907. Alerus Investment Advisors Corp added AVY to its portfolio by purchasing 24 company shares during the most recent quarter which is valued at $1,797.Hanseatic Management Services Inc boosted its stake in AVY in the latest quarter, The investment management firm added 11,431 additional shares and now holds a total of 25,220 shares of Avery Dennison Corp which is valued at $1.9 Million. Avery Dennison Corp makes up approx 0.69% of Hanseatic Management Services Inc’s portfolio.

Avery Dennison Corp opened for trading at $74.99 and hit $75.44 on the upside on Wednesday, eventually ending the session at $74.91, with a gain of 0.55% or 0.41 points. The heightened volatility saw the trading volume jump to 4,94,645 shares. Company has a market cap of $6,680 M.

On the company’s financial health, Avery Dennison Corp reported $0.94 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on Apr 27, 2016. Analyst had a consensus of $0.86. The company had revenue of $1485.50 million for the quarter, compared to analysts expectations of $1508.36 million. The company’s revenue was down -2.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.81 EPS.

Investors should note that on Apr 28, 2016, Avery Dennison Corp announced a cash dividend of $0.4100. The company’s management has announced May 27, 2016 as the ex-dividend date and fixed the record date on Jun 1, 2016. The payable date has been fixed on Jun 15, 2016.

Many Wall Street Analysts have commented on Avery Dennison Corp. Avery Dennison Corp was Downgraded by JP Morgan to ” Neutral” on May 20, 2016. Company shares were Reiterated by Barclays on May 2, 2016 to “Overweight”, Firm has raised the Price Target to $ 86 from a previous price target of $82 .Avery Dennison Corp was Resumed by Credit Suisse to “Neutral” on Apr 22, 2016.

Avery Dennison Corporation is engaged in the production of pressure-sensitive materials and a variety 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. It also sells pressure-sensitive materials in converted form as tapes and reflective sheeting. The Company also manufactures and sells a variety 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 it markets to retailers and apparel manufacturers and brand owners. The Company’s operational segments include Pressure-sensitive Materials (PSM) Retail Branding and Information Solutions (RBIS) and Vancive Medical Technologies (Vancive).

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