Avery Dennison Co. (NYSE:AVY) Shares Sold by Peapack Gladstone Financial Corp

Peapack Gladstone Financial Corp cut its holdings in shares of Avery Dennison Co. (NYSE:AVY) by 0.6% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 108,117 shares of the industrial products company’s stock after selling 698 shares during the quarter. Peapack Gladstone Financial Corp owned approximately 0.13% of Avery Dennison worth $23,868,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the company. Intech Investment Management LLC increased its stake in shares of Avery Dennison by 3.3% in the 2nd quarter. Intech Investment Management LLC now owns 1,559 shares of the industrial products company’s stock valued at $341,000 after buying an additional 50 shares during the period. Empirical Finance LLC raised its stake in shares of Avery Dennison by 2.0% in the 3rd 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 period. Procyon Advisors LLC increased 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 acquiring an additional 56 shares during the last quarter. Lindenwold Advisors INC increased 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 acquiring an additional 59 shares during the last quarter. Finally, Cynosure Group LLC increased its position in Avery Dennison by 3.6% during the third quarter. Cynosure Group LLC now owns 1,712 shares of the industrial products company’s stock worth $378,000 after buying an additional 59 shares during the last quarter. 94.17% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, SVP Nicholas Colisto sold 3,679 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $206.00, for a total transaction of $757,874.00. Following the completion of the sale, the senior vice president now owns 7,126 shares in the company, valued at approximately $1,467,956. This represents a 34.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.10% of the stock is owned by insiders.

Avery Dennison Stock Performance

Shares of AVY opened at $197.70 on Friday. The stock has a 50-day moving average of $206.90 and a two-hundred day moving average of $214.60. Avery Dennison Co. has a one year low of $190.21 and a one year 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 has a market cap of $15.89 billion, a P/E ratio of 23.73, a P/E/G ratio of 1.52 and a beta of 0.87.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share for the quarter, beating 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 firm had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.20 billion. During the same quarter in the previous year, the business earned $2.10 EPS. Avery Dennison’s revenue for the quarter was up 4.1% compared to the same quarter last year. As a group, research analysts predict that Avery Dennison Co. will post 9.42 EPS for the current year.

Avery Dennison Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date of this dividend is Wednesday, December 4th. Avery Dennison’s dividend payout ratio (DPR) is 42.26%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on AVY. Citigroup cut 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. Barclays cut their price objective on shares of Avery Dennison from $250.00 to $245.00 and set an “overweight” rating on the stock in a research report on Monday, October 28th. Bank of America raised shares of Avery Dennison from an “underperform” rating to a “buy” rating and raised their price target for the company from $207.00 to $250.00 in a research report on Thursday, October 17th. JPMorgan Chase & Co. cut shares of Avery Dennison from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $230.00 to $210.00 in a report on Thursday, October 24th. Finally, BMO Capital Markets lowered their target price 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 analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus 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.