Avery Dennison Co. (NYSE:AVY) Position Increased by City Holding Co.

City Holding Co. raised its position in shares of Avery Dennison Co. (NYSE:AVY) by 5.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,603 shares of the industrial products company’s stock after purchasing an additional 420 shares during the period. City Holding Co.’s holdings in Avery Dennison were worth $1,678,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in AVY. Swedbank AB bought a new position in Avery Dennison during the first quarter valued at approximately $102,117,000. Jennison Associates LLC bought a new position in shares of Avery Dennison during the 1st quarter valued at $44,837,000. Goldman Sachs Group Inc. boosted its holdings in Avery Dennison by 31.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 645,721 shares of the industrial products company’s stock worth $130,539,000 after purchasing an additional 156,189 shares in the last quarter. National Bank of Canada FI increased its position in Avery Dennison by 795.2% during the second quarter. National Bank of Canada FI now owns 160,248 shares of the industrial products company’s stock worth $34,190,000 after buying an additional 142,348 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in Avery Dennison by 179.5% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 216,135 shares of the industrial products company’s stock valued at $47,258,000 after buying an additional 138,808 shares in the last quarter. 94.17% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Chairman Mitchell R. Butier sold 3,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $202.95, for a total transaction of $608,850.00. Following the completion of the transaction, the chairman now directly owns 304,114 shares of the company’s stock, valued at approximately $61,719,936.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Chairman Mitchell R. Butier sold 3,000 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $202.95, for a total value of $608,850.00. Following the sale, the chairman now owns 304,114 shares of the company’s stock, valued at $61,719,936.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Mitchell R. Butier sold 10,000 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $212.90, for a total transaction of $2,129,000.00. Following the transaction, the chairman now owns 304,114 shares of the company’s stock, valued at approximately $64,745,870.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 59,108 shares of company stock worth $12,545,087 over the last 90 days. Corporate insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. BMO Capital Markets reissued an “outperform” rating and set a $252.00 price objective (down previously from $254.00) on shares of Avery Dennison in a report on Thursday, September 19th. Citigroup lowered their price target on Avery Dennison from $241.00 to $240.00 and set a “neutral” rating on the stock in a report on Wednesday, October 2nd. Barclays started coverage on shares of Avery Dennison in a research note on Monday. They issued an “overweight” rating and a $250.00 price objective for the company. UBS Group lowered shares of Avery Dennison from a “buy” rating to a “neutral” rating and lowered their target price for the company from $262.00 to $235.00 in a research note on Thursday, July 25th. Finally, Stifel Nicolaus started coverage on shares of Avery Dennison in a research report on Tuesday, July 9th. They set a “buy” rating and a $274.60 target price for the company. One research analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $242.96.

Avery Dennison Stock Performance

NYSE:AVY opened at $214.47 on Wednesday. The firm’s 50-day moving average is $215.38 and its 200-day moving average is $218.99. The company has a market cap of $17.28 billion, a price-to-earnings ratio of 31.31, a PEG ratio of 1.78 and a beta of 0.88. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.60 and a current ratio of 0.90. Avery Dennison Co. has a 52-week low of $165.21 and a 52-week high of $233.48.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.16. Avery Dennison had a return on equity of 33.44% and a net margin of 7.34%. The firm had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.18 billion. During the same period in the previous year, the company posted $1.92 earnings per share. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. Equities research analysts anticipate that Avery Dennison Co. will post 9.41 earnings per share for the current year.

Avery Dennison Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th were given a $0.88 dividend. The ex-dividend date was Wednesday, September 4th. This represents a $3.52 annualized dividend and a yield of 1.64%. Avery Dennison’s dividend payout ratio (DPR) is currently 51.39%.

Avery Dennison Company Profile

Avery Dennison Corporation operates as a materials science and digital identification solutions company in the United States, Europe, the Middle East, North Africa, Asia, Latin, America, and internationally. It provides pressure-sensitive materials comprising papers, plastic films, metal foils, and fabrics; performance tapes products, including tapes for wire harnessing, as well as cable wrapping for automotive, electrical, and general industrial applications; mechanical fasteners, which are precision-extruded and injection-molded plastic devices used in various automotive, general industrial, and retail applications; and other pressure-sensitive adhesive-based materials and converted products under the Fasson, JAC, Yongle, and Avery Dennison brands.