Charles Schwab Investment Management Inc. Purchases 1,782 Shares of Avery Dennison Co. (NYSE:AVY)

Charles Schwab Investment Management Inc. raised its position in shares of Avery Dennison Co. (NYSE:AVY) by 0.3% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 688,417 shares of the industrial products company’s stock after acquiring an additional 1,782 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Avery Dennison were worth $151,975,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of AVY. Pacer Advisors Inc. raised its position in Avery Dennison by 61.7% in the 3rd quarter. Pacer Advisors Inc. now owns 28,523 shares of the industrial products company’s stock valued at $6,297,000 after purchasing an additional 10,882 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in Avery Dennison by 0.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 699,541 shares of the industrial products company’s stock valued at $154,431,000 after acquiring an additional 3,118 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in shares of Avery Dennison by 5.5% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 227,919 shares of the industrial products company’s stock worth $50,315,000 after acquiring an additional 11,784 shares during the last quarter. First Horizon Advisors Inc. lifted its position in shares of Avery Dennison by 5.9% during the third quarter. First Horizon Advisors Inc. now owns 1,166 shares of the industrial products company’s stock worth $257,000 after purchasing an additional 65 shares in the last quarter. Finally, Advisors Asset Management Inc. grew its stake in shares of Avery Dennison by 12.6% during the third quarter. Advisors Asset Management Inc. now owns 12,007 shares of the industrial products company’s stock valued at $2,651,000 after purchasing an additional 1,340 shares during the last quarter. 94.17% of the stock is owned by institutional investors and hedge funds.

Avery Dennison Stock Up 1.5 %

Shares of NYSE AVY opened at $202.59 on Monday. The firm has a 50 day moving average price of $210.78 and a 200 day moving average price of $216.75. 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 has a market cap of $16.28 billion, a P/E ratio of 24.32, a P/E/G ratio of 1.53 and a beta of 0.89. Avery Dennison Co. has a 52-week low of $187.93 and a 52-week high of $233.48.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $2.33 EPS for the quarter, topping the consensus estimate of $2.32 by $0.01. Avery Dennison had a return on equity of 33.01% and a net margin of 7.76%. The business had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.20 billion. During the same quarter last year, the business posted $2.10 EPS. The firm’s revenue was up 4.1% compared to the same quarter last year. Analysts expect that Avery Dennison Co. will post 9.42 EPS for the current 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 dividend of $0.88 per share. The ex-dividend date is Wednesday, December 4th. This represents a $3.52 dividend on an annualized basis and a yield of 1.74%. Avery Dennison’s payout ratio is 42.26%.

Analyst Ratings Changes

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

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.