Advisors Asset Management Inc. Has $2.65 Million Stock Position in Avery Dennison Co. (NYSE:AVY)

Advisors Asset Management Inc. boosted its holdings in shares of Avery Dennison Co. (NYSE:AVY) by 12.6% during the third quarter, Holdings Channel.com reports. The institutional investor owned 12,007 shares of the industrial products company’s stock after acquiring an additional 1,340 shares during the quarter. Advisors Asset Management Inc.’s holdings in Avery Dennison were worth $2,651,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analyst Ratings Changes

Several research analysts have weighed in on the stock. BMO Capital Markets lowered their price target 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. StockNews.com downgraded Avery Dennison from a “buy” rating to a “hold” rating in a research report on Thursday, October 24th. Citigroup dropped their price target on Avery Dennison from $241.00 to $240.00 and set a “neutral” rating for the company in a report on Wednesday, October 2nd. Barclays decreased their price objective on Avery Dennison from $250.00 to $245.00 and set an “overweight” rating on the stock in a report on Monday, October 28th. Finally, Bank of America raised Avery Dennison from an “underperform” rating to a “buy” rating and lifted their target price for the stock from $207.00 to $250.00 in a report on Thursday, October 17th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Avery Dennison currently has a consensus rating of “Moderate Buy” and an average price target of $244.96.

Avery Dennison Trading Up 1.5 %

Shares of Avery Dennison stock opened at $202.59 on Friday. The firm’s 50-day moving average price is $210.78 and its two-hundred day moving average price is $216.80. The company has a market capitalization of $16.28 billion, a price-to-earnings ratio of 24.32, a PEG ratio of 1.53 and a beta of 0.89. 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 12-month low of $187.93 and a 12-month high of $233.48.

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

Avery Dennison Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders 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 yield of 1.74%. The ex-dividend date is Wednesday, December 4th. 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.