Tradition Capital Management Lowers stake in Avery Dennison Corp (AVY)

Avery Dennison Corp (AVY) : Tradition Capital Management reduced its stake in Avery Dennison Corp by 3.16% during the most recent quarter end. The investment management company now holds a total of 72,496 shares of Avery Dennison Corp which is valued at $5,599,591 after selling 2,364 shares in Avery Dennison Corp , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.Avery Dennison Corp makes up approximately 1.82% of Tradition Capital Management’s portfolio.

Other Hedge Funds, Including , Courier Capital Corp reduced its stake in AVY by selling 734 shares or 12.66% in the most recent quarter. The Hedge Fund company now holds 5,064 shares of AVY which is valued at $391,143. Avery Dennison Corp makes up approx 0.08% of Courier Capital Corp’s portfolio.Kanaly Trust Co boosted its stake in AVY in the latest quarter, The investment management firm added 15 additional shares and now holds a total of 334 shares of Avery Dennison Corp which is valued at $24,248.

Avery Dennison Corp opened for trading at $77.43 and hit $77.88 on the upside on Thursday, eventually ending the session at $77.39, with a gain of 0.19% or 0.15 points. The heightened volatility saw the trading volume jump to 4,30,896 shares. Company has a market cap of $6,901 M.

On the company’s financial health, Avery Dennison Corp reported $1.09 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on Jul 26, 2016. Analyst had a consensus of $1.01. The company had revenue of $1541.50 million for the quarter, compared to analysts expectations of $1539.48 million. The company’s revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.91 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.

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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