Avery Dennison Corp (AVY) : Delta Asset Managementtn scooped up 473 additional shares in Avery Dennison Corp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 20, 2016. The investment management firm now holds a total of 285,298 shares of Avery Dennison Corp which is valued at $20,712,635.Avery Dennison Corp makes up approximately 3.50% of Delta Asset Managementtn’s portfolio.
Other Hedge Funds, Including , Wealthtrust-arizona reduced its stake in AVY by selling 1 shares or 0.42% in the most recent quarter. The Hedge Fund company now holds 236 shares of AVY which is valued at $17,134. Avery Dennison Corp makes up approx 0.01% of Wealthtrust-arizona’s portfolio. Simplex Trading added AVY to its portfolio by purchasing 4,514 company shares during the most recent quarter which is valued at $331,463. Avery Dennison Corp makes up approx 0.04% of Simplex Trading’s portfolio.
Avery Dennison Corp opened for trading at $73.03 and hit $73.77 on the upside on Wednesday, eventually ending the session at $73.43, with a gain of 0.71% or 0.52 points. The heightened volatility saw the trading volume jump to 4,07,937 shares. Company has a market cap of $6,548 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.
Many Wall Street Analysts have commented on Avery Dennison Corp. Avery Dennison Corp was Downgraded by BofA/Merrill to ” Underperform” on Jul 1, 2016. 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 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).