Private Advisor Group LLC Increases Stock Position in Avery Dennison Co. (NYSE:AVY)

Private Advisor Group LLC raised its holdings in Avery Dennison Co. (NYSE:AVY) by 2.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,488 shares of the industrial products company’s stock after purchasing an additional 328 shares during the quarter. Private Advisor Group LLC’s holdings in Avery Dennison were worth $2,757,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Victory Capital Management Inc. lifted its holdings in Avery Dennison by 2.1% in the second quarter. Victory Capital Management Inc. now owns 1,326,548 shares of the industrial products company’s stock valued at $290,050,000 after acquiring an additional 27,771 shares during the period. Boston Partners lifted its holdings in Avery Dennison by 3.6% in the first quarter. Boston Partners now owns 1,019,802 shares of the industrial products company’s stock valued at $227,660,000 after acquiring an additional 35,538 shares during the period. Meridiem Investment Management Ltd. increased its holdings in Avery Dennison by 0.7% in the third quarter. Meridiem Investment Management Ltd. now owns 794,092 shares of the industrial products company’s stock valued at $175,261,000 after buying an additional 5,756 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Avery Dennison by 4.3% in the second quarter. Dimensional Fund Advisors LP now owns 787,716 shares of the industrial products company’s stock valued at $172,254,000 after buying an additional 32,467 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Avery Dennison by 2.7% in the second quarter. Bank of New York Mellon Corp now owns 646,223 shares of the industrial products company’s stock valued at $141,297,000 after buying an additional 17,158 shares in the last quarter. Hedge funds and other institutional investors own 94.17% of the company’s stock.

Insider Activity at Avery Dennison

In related news, Chairman Mitchell R. Butier sold 7,108 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $218.12, for a total value of $1,550,396.96. Following the completion of the transaction, the chairman now directly owns 304,114 shares in the company, valued at approximately $66,333,345.68. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Chairman Mitchell R. Butier sold 7,108 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $218.12, for a total value of $1,550,396.96. Following the completion of the sale, the chairman now directly owns 304,114 shares in the company, valued at approximately $66,333,345.68. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Mitchell R. Butier sold 3,000 shares of Avery Dennison stock in a transaction on Monday, August 5th. The shares were sold at an average price of $202.95, for a total value of $608,850.00. Following the completion of the transaction, the chairman now owns 304,114 shares in the company, valued at $61,719,936.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 59,108 shares of company stock worth $12,545,087. 1.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. JPMorgan Chase & Co. cut shares of Avery Dennison from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $230.00 to $210.00 in a report on Thursday, October 24th. UBS Group lowered shares of Avery Dennison from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $262.00 to $235.00 in a research report on Thursday, July 25th. Citigroup dropped their target price on shares of Avery Dennison from $241.00 to $240.00 and set a “neutral” rating for the company in a report on Wednesday, October 2nd. Barclays reduced their price target on shares of Avery Dennison from $250.00 to $245.00 and set an “overweight” rating on the stock in a report on Monday. Finally, BMO Capital Markets dropped their price objective on shares of Avery Dennison from $252.00 to $247.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $244.96.

Avery Dennison Stock Performance

Shares of AVY opened at $207.23 on Tuesday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.60 and a current ratio of 0.90. The company has a market capitalization of $16.69 billion, a price-to-earnings ratio of 30.25, a PEG ratio of 1.78 and a beta of 0.88. The company’s 50 day simple moving average is $216.73 and its 200 day simple moving average is $218.47. Avery Dennison Co. has a 1 year low of $170.42 and a 1 year high of $233.48.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.32 by $0.01. The business had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.20 billion. Avery Dennison had a net margin of 7.34% and a return on equity of 33.44%. The company’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.10 earnings per share. On average, sell-side analysts predict that Avery Dennison Co. will post 9.41 EPS for the current year.

Avery Dennison Dividend Announcement

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 annualized dividend and a yield of 1.70%. Avery Dennison’s payout ratio is currently 51.39%.

About Avery Dennison

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.