November 28, 2016 - By Ellis Scott
Seeing the deal Patrick Siewert made he is in the insider trading spotlight today. The director of Avery Dennison Corp and an insider, sold 2,000 shares worth $143,000 U.S. Dollars. The average price was $71.5 per share. This stocks unloading decreased his ownership of the company to 0.02% stock market capitalization or 19,013 shares. This insider transaction, was executed on November 28, 2016. It’s at your disposal at the SEC’s website and can be found at this page.
Out of 4 analysts covering Avery Dennison (NYSE:AVY), 2 rate it a “Buy”, 1 “Sell”, while 1 “Hold”. This means 50% are positive. $86 is the highest target while $66 is the lowest. The $75.50 average target is 4.04% above today’s ($72.57) stock price. Avery Dennison has been the topic of 8 analyst reports since October 15, 2015 according to StockzIntelligence Inc. The stock has “Underperform” rating given by Bank of America on Friday, July 1. The firm earned “Hold” rating on Monday, November 21 by Aegis Capital. As per Thursday, October 27, the company rating was upgraded by JP Morgan. The firm earned “Overweight” rating on Monday, May 2 by Barclays Capital. JP Morgan downgraded the stock to “Neutral” rating in Friday, May 20 report.
Insitutional Activity: The institutional sentiment increased to 0.96 in Q2 2016. Its up 0.10, from 0.86 in 2016Q1. The ratio improved, as 38 funds sold all Avery Dennison Corp shares owned while 178 reduced positions. 48 funds bought stakes while 137 increased positions. They now own 74.71 million shares or 10.44% less from 83.42 million shares in 2016Q1.
Legal General Gru Incorporated Public Limited Com, a United Kingdom-based fund reported 458,109 shares. James Rech has 0.89% invested in the company for 473,005 shares. Arizona State Retirement Sys owns 21,903 shares or 0.02% of their US portfolio. Public Employees Retirement Association Of Colorado accumulated 0.01% or 20,642 shares. Ajo Lp owns 248,894 shares or 0.08% of their US portfolio. Everence Capital Mgmt, a Indiana-based fund reported 8,298 shares. Fuller And Thaler Asset Management owns 600 shares or 0% of their US portfolio. Alyeska Grp Inc L P accumulated 150,527 shares or 0.11% of the stock. Ct Mason holds 1.58% of its portfolio in Avery Dennison Corp (NYSE:AVY) for 50,244 shares. Cypress Cap Grp holds 0.76% or 43,224 shares in its portfolio. Moreover, Texas Permanent School Fund has 0.03% invested in Avery Dennison Corp (NYSE:AVY) for 28,933 shares. Pinnacle Assoc Ltd accumulated 0.01% or 9,200 shares. Globeflex Cap Lp has invested 0.2% of its portfolio in Avery Dennison Corp (NYSE:AVY). Ngam Advsr L P last reported 0.05% of its portfolio in the stock. Counselors last reported 0.27% of its portfolio in the stock.
Insider Transactions: Since June 1, 2016, the stock had 1 buy, and 16 sales for $40.80 million net activity. Shares for $381,150 were sold by HICKS KEN C. On Wednesday, August 10 SCARBOROUGH DEAN A sold $3.93M worth of the stock or 50,000 shares. The insider PYOTT DAVID E I sold $157,220. Shares for $147,640 were sold by Miller Susan C. The insider Bondar Lori J bought 2,000 shares worth $139,440. Hill Anne sold $2.29M worth of stock or 30,000 shares. The insider GRAVANIS GEORGES sold $3.04M.
The stock increased 1.24% or $0.89 during the last trading session, hitting $72.57. About 842,573 shares traded hands. Avery Dennison Corp (NYSE:AVY) has declined 1.48% since April 25, 2016 and is downtrending. It has underperformed by 7.50% the S&P500.
Avery Dennison Corporation is engaged in the production of pressure-sensitive materials and a range of tickets, tags, labels and other converted products. The company has a market cap of $6.50 billion. 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 has a 20.99 P/E ratio. The Company’s operational divisions include Pressure-sensitive Materials (PSM), Retail Branding and Information Solutions (RBIS), and Vancive Medical Technologies (Vancive).
According to Zacks Investment Research, “Avery Dennision Corporation produces pressure-sensitive adhesives and materials and the production of consumer and converted products. Some pressure-sensitive adhesives and materials are converted into labels and other products through embossing, printing, stamping and die-cutting, and some are sold in unconverted form as base materials, tapes and reflective sheeting. The company also manufactures and sells a variety of consumer and converted products and other items not involving pressure-sensitive components, such as notebooks, three-ring binders, among others.”
Analysts await Avery Dennison Corp (NYSE:AVY) to report earnings on February, 1. They expect $0.93 earnings per share, up 9.41% or $0.08 from last year’s $0.85 per share. AVY’s profit will be $83.30M for 19.51 P/E if the $0.93 EPS becomes a reality. After $1.01 actual earnings per share reported by Avery Dennison Corp for the previous quarter, Wall Street now forecasts -7.92% negative EPS growth.
Avery Dennison Corporation (Avery Dennison), incorporated on February 23, 1977, is engaged in the production of pressure-sensitive materials and a range 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. The Company’s divisions include Pressure-sensitive Materials (PSM), Retail Branding and Information Solutions (RBIS), and Vancive Medical Technologies (Vancive). It also sells pressure-sensitive materials in converted form as tapes and reflective sheeting. The Firm also makes and sells a range 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.
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By Ellis Scott