Avery Dennison Corporation (AVY) : The traders have covered their outstanding shorts in Avery Dennison Corporation (AVY) to the tune of -328,148 shares, a change of -8.5%. As on Jul 29, 2016, the outstanding shorts on the stock were 3,859,969 shares, however, by August 15, 2016, the shorts had reduced to 3,531,821 shares. The covering shows that the traders dont believe that a large downside exists in the stock from current levels. The open short positions equal 4% of the free float of the stock. It takes 6 days to cover the outstanding short positions. The stock has an average daily volume of 616,081 shares. The short interest information was released on Wednesday Aug 24th after the market close.
Avery Dennison Corporation (NYSE:AVY): The stock opened at $78.19 on Wednesday but the bulls could not build on the opening and the stock topped out at $78.19 for the day. The stock traded down to $77.20 during the day, due to lack of any buying support eventually closed down at $77.37 with a loss of -1.01% for the day. The stock had closed at $78.16 on the previous day. The total traded volume was 347,252 shares.
In a related news, The Securities and Exchange Commission has divulged that Hill Anne, officer (Sr. VP & Chief HR Officer) of Avery Dennison Corp, had unloaded 11,567 shares at an average price of $78.1 in a transaction dated on August 12, 2016. The total value of the transaction was worth $903,383.
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).