Avery Dennison Corp (AVY) : Shufro Rose Co reduced its stake in Avery Dennison Corp by 22.57% during the most recent quarter end. The investment management company now holds a total of 312,534 shares of Avery Dennison Corp which is valued at $23.6 Million after selling 91,082 shares in Avery Dennison Corp , the firm said in a disclosure report filed with the SEC on May 11, 2016.Avery Dennison Corp makes up approximately 2.67% of Shufro Rose Co’s portfolio.
Other Hedge Funds, Including , Cornerstone Capital Management Holdings. boosted its stake in AVY in the latest quarter, The investment management firm added 18,991 additional shares and now holds a total of 38,923 shares of Avery Dennison Corp which is valued at $2.9 Million. Avery Dennison Corp makes up approx 0.02% of Cornerstone Capital Management Holdings.’s portfolio.Bahl Gaynor Inc reduced its stake in AVY by selling 11,985 shares or 68.61% in the most recent quarter. The Hedge Fund company now holds 5,483 shares of AVY which is valued at $414,405. Avery Dennison Corp makes up approx 0.01% of Bahl Gaynor Inc’s portfolio.Blackrock Fund Advisors reduced its stake in AVY by selling 2,179,095 shares or 59.56% in the most recent quarter. The Hedge Fund company now holds 1,479,398 shares of AVY which is valued at $111.8 Million. Avery Dennison Corp makes up approx 0.03% of Blackrock Fund Advisors’s portfolio. Meag Munich Ergo Kapitalanlagegesellschaft Mbh sold out all of its stake in AVY during the most recent quarter. The investment firm sold 74,691 shares of AVY which is valued $5.6 Million.Tocqueville Asset Management reduced its stake in AVY by selling 2,387 shares or 12.54% in the most recent quarter. The Hedge Fund company now holds 16,644 shares of AVY which is valued at $1.2 Million. Avery Dennison Corp makes up approx 0.02% of Tocqueville Asset Management’s portfolio.
Avery Dennison Corp opened for trading at $75.74 and hit $76.96 on the upside on Monday, eventually ending the session at $76.74, with a gain of 1.53% or 1.16 points. The heightened volatility saw the trading volume jump to 4,94,014 shares. Company has a market cap of $6,843 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. 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 Companys 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 Companys operational segments include Pressure-sensitive Materials (PSM) Retail Branding and Information Solutions (RBIS) and Vancive Medical Technologies (Vancive).