The Manufacturers Life Insurance Company Sells 529 Shares of Avery Dennison Co. (NYSE:AVY)

The Manufacturers Life Insurance Company decreased its holdings in Avery Dennison Co. (NYSE:AVY) by 1.0% during the third quarter, HoldingsChannel.com reports. The firm owned 51,767 shares of the industrial products company’s stock after selling 529 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Avery Dennison were worth $11,428,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Innealta Capital LLC acquired a new position in shares of Avery Dennison in the 2nd quarter valued at $28,000. Larson Financial Group LLC increased its stake in shares of Avery Dennison by 100.0% during the third quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 71 shares in the last quarter. Kennebec Savings Bank acquired a new position in shares of Avery Dennison during the third quarter valued at approximately $36,000. Peterson Financial Group Inc. purchased a new position in Avery Dennison in the 3rd quarter valued at $39,000. Finally, Ashton Thomas Private Wealth LLC acquired a new position in Avery Dennison during the second quarter worth about $42,000. 94.17% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Avery Dennison

In related news, SVP Nicholas Colisto sold 3,679 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $206.00, for a total value of $757,874.00. Following the transaction, the senior vice president now owns 7,126 shares in the company, valued at $1,467,956. This trade represents a 34.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on AVY. BMO Capital Markets lowered their price target on shares of Avery Dennison from $252.00 to $247.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. StockNews.com cut shares of Avery Dennison from a “buy” rating to a “hold” rating in a research note on Thursday, October 24th. Bank of America raised shares of Avery Dennison from an “underperform” rating to a “buy” rating and lifted their price target for the company from $207.00 to $250.00 in a research report on Thursday, October 17th. JPMorgan Chase & Co. cut Avery Dennison from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $230.00 to $210.00 in a research note on Thursday, October 24th. Finally, Barclays decreased their price target on Avery Dennison from $250.00 to $245.00 and set an “overweight” rating on the stock in a research note on Monday, October 28th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $244.96.

Avery Dennison Trading Up 0.1 %

Shares of Avery Dennison stock opened at $206.07 on Tuesday. The business has a fifty day simple moving average of $209.61 and a 200-day simple moving average of $215.85. The firm has a market cap of $16.56 billion, a price-to-earnings ratio of 24.74, a price-to-earnings-growth ratio of 1.58 and a beta of 0.89. The company has a quick ratio of 0.62, a current ratio of 0.92 and a debt-to-equity ratio of 0.85. Avery Dennison Co. has a fifty-two week low of $190.04 and a fifty-two week high of $233.48.

Avery Dennison (NYSE:AVY) last issued its earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.32 by $0.01. The company had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.20 billion. Avery Dennison had a net margin of 7.76% and a return on equity of 33.01%. The company’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter last year, the business posted $2.10 EPS. On average, equities analysts forecast that Avery Dennison Co. will post 9.42 EPS for the current fiscal year.

Avery Dennison Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be paid a $0.88 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $3.52 dividend on an annualized basis and a yield of 1.71%. Avery Dennison’s payout ratio is currently 42.26%.

Avery Dennison 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.