BlackRock Inc. Boosts Holdings in Avery Dennison Co. (NYSE:AVY)

BlackRock Inc. lifted its stake in Avery Dennison Co. (NYSE:AVY) by 5.8% in the 3rd quarter, Holdings Channel.com reports. The firm owned 7,010,770 shares of the industrial products company’s stock after buying an additional 382,261 shares during the quarter. BlackRock Inc. owned approximately 0.08% of Avery Dennison worth $1,452,701,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Regency Capital Management Inc. DE raised its position in Avery Dennison by 287.2% in the 3rd quarter. Regency Capital Management Inc. DE now owns 9,293 shares of the industrial products company’s stock worth $1,926,000 after buying an additional 6,893 shares during the last quarter. Boston Private Wealth LLC raised its position in Avery Dennison by 12.4% in the 3rd quarter. Boston Private Wealth LLC now owns 1,455 shares of the industrial products company’s stock worth $301,000 after buying an additional 161 shares during the last quarter. Commerce Bank raised its position in Avery Dennison by 6.2% in the 3rd quarter. Commerce Bank now owns 21,440 shares of the industrial products company’s stock worth $4,442,000 after buying an additional 1,248 shares during the last quarter. Tdam USA Inc. raised its position in Avery Dennison by 5.6% in the 3rd quarter. Tdam USA Inc. now owns 1,908 shares of the industrial products company’s stock worth $395,000 after buying an additional 102 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S raised its position in Avery Dennison by 1.0% in the 3rd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 71,955 shares of the industrial products company’s stock worth $14,910,000 after buying an additional 682 shares during the last quarter. 87.28% of the stock is owned by institutional investors and hedge funds.

In related news, VP Deena Baker-Nel sold 1,400 shares of the stock in a transaction on Friday, October 29th. The stock was sold at an average price of $217.00, for a total transaction of $303,800.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Bradley A. Alford sold 6,318 shares of the stock in a transaction on Friday, November 5th. The shares were sold at an average price of $225.58, for a total value of $1,425,214.44. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by corporate insiders.

A number of equities analysts have weighed in on the company. UBS Group upped their price target on shares of Avery Dennison from $232.00 to $234.00 and gave the company a “neutral” rating in a research report on Tuesday, January 4th. Raymond James assumed coverage on shares of Avery Dennison in a research report on Tuesday, November 23rd. They set an “outperform” rating and a $240.00 price target for the company. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $229.73.

AVY stock opened at $209.08 on Friday. Avery Dennison Co. has a 1-year low of $147.40 and a 1-year high of $229.24. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.06 and a quick ratio of 0.73. The company has a market capitalization of $17.31 billion, a price-to-earnings ratio of 23.41, a PEG ratio of 3.10 and a beta of 1.00. The business has a 50 day simple moving average of $214.19 and a two-hundred day simple moving average of $214.10.

Avery Dennison (NYSE:AVY) last posted its quarterly earnings results on Tuesday, October 26th. The industrial products company reported $2.14 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.04 by $0.10. Avery Dennison had a return on equity of 46.22% and a net margin of 9.12%. The business had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $2 billion. During the same period in the prior year, the company posted $1.91 EPS. The firm’s revenue for the quarter was up 19.8% compared to the same quarter last year. Sell-side analysts anticipate that Avery Dennison Co. will post 8.94 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 15th. Stockholders of record on Wednesday, December 1st were given a dividend of $0.68 per share. The ex-dividend date of this dividend was Tuesday, November 30th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.30%. Avery Dennison’s dividend payout ratio is currently 30.46%.

Avery Dennison Company Profile

Avery Dennison Corp. engages in the provision of labeling and packaging materials and solutions. It operates through the following segments: Label & Graphic Materials, Retail Branding & Information Solutions and Industrial & Healthcare Materials. The Label and Graphic Materials segment manufactures and sells Fasson, JAC, and Avery Dennison-brand pressure-sensitive label and packaging materials, Avery Dennison and Mactac brand graphics, and Avery Dennison brand reflective products.

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Institutional Ownership by Quarter for Avery Dennison (NYSE:AVY)

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