Pathstone Holdings LLC Trims Stock Position in Avery Dennison Co. (NYSE:AVY)

Pathstone Holdings LLC trimmed its holdings in Avery Dennison Co. (NYSE:AVY) by 0.4% during the 3rd quarter, Holdings Channel.com reports. The firm owned 19,621 shares of the industrial products company’s stock after selling 80 shares during the period. Pathstone Holdings LLC’s holdings in Avery Dennison were worth $4,331,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Lindenwold Advisors INC boosted its stake in shares of Avery Dennison by 0.6% in the third quarter. Lindenwold Advisors INC now owns 10,266 shares of the industrial products company’s stock worth $2,266,000 after buying an additional 59 shares during the last quarter. Strengthening Families & Communities LLC boosted its position in Avery Dennison by 7.1% in the 3rd quarter. Strengthening Families & Communities LLC now owns 13,061 shares of the industrial products company’s stock worth $2,883,000 after purchasing an additional 863 shares in the last quarter. Swiss National Bank grew its stake in shares of Avery Dennison by 0.3% during the 3rd quarter. Swiss National Bank now owns 239,100 shares of the industrial products company’s stock worth $52,784,000 after purchasing an additional 700 shares during the period. Peterson Financial Group Inc. purchased a new position in shares of Avery Dennison during the 3rd quarter valued at approximately $39,000. Finally, Comgest Global Investors S.A.S. lifted its stake in shares of Avery Dennison by 3.1% in the 3rd quarter. Comgest Global Investors S.A.S. now owns 239,705 shares of the industrial products company’s stock valued at $52,917,000 after purchasing an additional 7,144 shares during the period. 94.17% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on AVY shares. JPMorgan Chase & Co. lowered shares of Avery Dennison from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $230.00 to $210.00 in a research report on Thursday, October 24th. Barclays dropped their target price on Avery Dennison from $250.00 to $245.00 and set an “overweight” rating on the stock in a research report on Monday, October 28th. BMO Capital Markets reduced their price target on Avery Dennison from $252.00 to $247.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Citigroup dropped their price objective on Avery Dennison from $241.00 to $240.00 and set a “neutral” rating on the stock in a report on Wednesday, October 2nd. Finally, StockNews.com lowered Avery Dennison from a “buy” rating to a “hold” rating in a research report on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Avery Dennison has an average rating of “Moderate Buy” and a consensus target price of $244.96.

Avery Dennison Trading Up 1.5 %

Shares of AVY stock opened at $202.59 on Friday. Avery Dennison Co. has a fifty-two week low of $187.93 and a fifty-two week high of $233.48. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.62 and a current ratio of 0.92. The stock’s fifty day moving average is $210.78 and its two-hundred day moving average is $216.80. The firm has a market capitalization of $16.28 billion, a P/E ratio of 24.32, a PEG ratio of 1.53 and a beta of 0.89.

Avery Dennison (NYSE:AVY) last posted its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share for the quarter, topping 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 analyst estimates of $2.20 billion. During the same period in the previous year, the business posted $2.10 earnings per share. Avery Dennison’s quarterly revenue was up 4.1% on a year-over-year basis. Research analysts expect that Avery Dennison Co. will post 9.42 earnings per share for the current fiscal year.

Avery Dennison Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be issued a $0.88 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $3.52 annualized dividend and a dividend yield of 1.74%. Avery Dennison’s dividend payout ratio 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.