Advisor Resource Council Makes New $317,000 Investment in Avery Dennison Co. (NYSE:AVY)

Advisor Resource Council bought a new stake in Avery Dennison Co. (NYSE:AVY) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 1,436 shares of the industrial products company’s stock, valued at approximately $317,000.

A number of other hedge funds have also made changes to their positions in AVY. Swedbank AB bought a new position in shares of Avery Dennison in the first quarter valued at approximately $102,117,000. National Bank of Canada FI increased its holdings in Avery Dennison by 795.2% during the 2nd quarter. National Bank of Canada FI now owns 160,248 shares of the industrial products company’s stock valued at $34,190,000 after purchasing an additional 142,348 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in Avery Dennison by 179.5% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 216,135 shares of the industrial products company’s stock valued at $47,258,000 after purchasing an additional 138,808 shares during the last quarter. Bahl & Gaynor Inc. boosted its stake in Avery Dennison by 51.9% in the second quarter. Bahl & Gaynor Inc. now owns 240,096 shares of the industrial products company’s stock worth $52,497,000 after purchasing an additional 81,993 shares in the last quarter. Finally, Acadian Asset Management LLC grew its holdings in shares of Avery Dennison by 3,517.1% during the second quarter. Acadian Asset Management LLC now owns 80,987 shares of the industrial products company’s stock worth $17,701,000 after purchasing an additional 78,748 shares during the last quarter. Institutional investors and hedge funds own 94.17% of the company’s stock.

Avery Dennison Price Performance

Shares of AVY opened at $205.45 on Friday. The stock has a market cap of $16.51 billion, a P/E ratio of 24.66, a price-to-earnings-growth ratio of 1.58 and a beta of 0.89. Avery Dennison Co. has a 1 year low of $176.75 and a 1 year high of $233.48. The stock’s 50-day moving average price is $214.90 and its two-hundred day moving average price is $218.05. The company has a current ratio of 0.92, a quick ratio of 0.62 and a debt-to-equity ratio of 0.85.

Avery Dennison (NYSE:AVY) last released its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share for the quarter, topping the consensus estimate of $2.32 by $0.01. Avery Dennison had a net margin of 7.76% and a return on equity of 33.01%. The business had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.20 billion. During the same quarter last year, the firm earned $2.10 EPS. Avery Dennison’s quarterly revenue was up 4.1% compared to the same quarter last year. On average, equities analysts predict that Avery Dennison Co. will post 9.41 earnings per share for the current year.

Avery Dennison Announces Dividend

The company also recently disclosed 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. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date is Wednesday, December 4th. Avery Dennison’s dividend payout ratio is currently 42.26%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on AVY shares. JPMorgan Chase & Co. cut 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 report on Thursday, October 24th. Bank of America upgraded shares of Avery Dennison from an “underperform” rating to a “buy” rating and upped their target price for the stock from $207.00 to $250.00 in a research report on Thursday, October 17th. UBS Group lowered shares of Avery Dennison from a “buy” rating to a “neutral” rating and lowered their price target for the company from $262.00 to $235.00 in a report on Thursday, July 25th. BMO Capital Markets reduced their price objective on Avery Dennison from $252.00 to $247.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Finally, Citigroup lowered their target price on Avery Dennison from $241.00 to $240.00 and set a “neutral” rating for the company in a research note on Wednesday, October 2nd. Four equities research 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 company currently has a consensus rating of “Moderate Buy” and a consensus target price of $244.96.

Insider Buying and Selling

In other Avery Dennison news, Chairman Mitchell R. Butier sold 3,000 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $206.82, for a total value of $620,460.00. Following the completion of the transaction, the chairman now directly owns 304,114 shares of the company’s stock, valued at approximately $62,896,857.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Chairman Mitchell R. Butier sold 10,000 shares of the firm’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $211.91, for a total transaction of $2,119,100.00. Following the sale, the chairman now directly owns 304,114 shares in the company, valued at $64,444,797.74. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Mitchell R. Butier sold 3,000 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $206.82, for a total transaction of $620,460.00. Following the completion of the transaction, the chairman now directly owns 304,114 shares of the company’s stock, valued at approximately $62,896,857.48. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 40,108 shares of company stock valued at $8,561,057. 1.10% of the stock is owned by company insiders.

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.