Avior Wealth Management LLC Raises Holdings in Avery Dennison Co. (NYSE:AVY)

Avior Wealth Management LLC raised its holdings in Avery Dennison Co. (NYSE:AVY) by 2.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,294 shares of the industrial products company’s stock after purchasing an additional 90 shares during the quarter. Avior Wealth Management LLC’s holdings in Avery Dennison were worth $727,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Intech Investment Management LLC raised its position in Avery Dennison by 3.3% in the second quarter. Intech Investment Management LLC now owns 1,559 shares of the industrial products company’s stock valued at $341,000 after purchasing an additional 50 shares during the period. Empirical Finance LLC raised its holdings in shares of Avery Dennison by 2.0% in the 3rd quarter. Empirical Finance LLC now owns 2,822 shares of the industrial products company’s stock valued at $623,000 after buying an additional 55 shares during the period. Procyon Advisors LLC lifted its stake in Avery Dennison by 4.0% during the 3rd quarter. Procyon Advisors LLC now owns 1,442 shares of the industrial products company’s stock worth $319,000 after acquiring an additional 56 shares in the last quarter. Lindenwold Advisors INC boosted its holdings in Avery Dennison by 0.6% during the 3rd quarter. Lindenwold Advisors INC now owns 10,266 shares of the industrial products company’s stock valued at $2,266,000 after acquiring an additional 59 shares during the period. Finally, Bailard Inc. grew its position in Avery Dennison by 0.5% in the 2nd quarter. Bailard Inc. now owns 12,202 shares of the industrial products company’s stock valued at $2,668,000 after acquiring an additional 61 shares in the last quarter. Institutional investors and hedge funds own 94.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on AVY shares. UBS Group lowered shares of Avery Dennison from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $262.00 to $235.00 in a research note on Thursday, July 25th. StockNews.com downgraded shares of Avery Dennison from a “buy” rating to a “hold” rating in a research note on Thursday, October 24th. Citigroup reduced their price objective on Avery Dennison from $241.00 to $240.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 2nd. BMO Capital Markets lowered their target price on Avery Dennison from $252.00 to $247.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Finally, JPMorgan Chase & Co. lowered Avery Dennison from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $230.00 to $210.00 in a research report on Thursday, October 24th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to 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 $199.12 on Friday. 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 52-week low of $187.93 and a 52-week high of $233.48. The stock has a 50 day moving average price of $211.50 and a 200 day moving average price of $217.06. The company has a market capitalization of $16.00 billion, a price-to-earnings ratio of 23.96, a price-to-earnings-growth ratio of 1.51 and a beta of 0.89.

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

Avery Dennison Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be given a $0.88 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.77%. Avery Dennison’s dividend payout ratio (DPR) is presently 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.