Meyer Handelman Co. Acquires Shares of 22,782 Avery Dennison Co. (NYSE:AVY)

Meyer Handelman Co. bought a new position in Avery Dennison Co. (NYSE:AVY) in the 4th quarter, Holdings Channel reports. The firm bought 22,782 shares of the industrial products company’s stock, valued at approximately $4,263,000.

Several other hedge funds also recently added to or reduced their stakes in AVY. Geode Capital Management LLC boosted its holdings in Avery Dennison by 8.2% during the 3rd quarter. Geode Capital Management LLC now owns 2,088,516 shares of the industrial products company’s stock valued at $459,621,000 after acquiring an additional 157,754 shares during the period. Victory Capital Management Inc. lifted its position in shares of Avery Dennison by 6.8% during the third quarter. Victory Capital Management Inc. now owns 1,416,798 shares of the industrial products company’s stock worth $312,772,000 after purchasing an additional 90,250 shares during the last quarter. World Investment Advisors LLC boosted its stake in shares of Avery Dennison by 2,629.0% during the third quarter. World Investment Advisors LLC now owns 91,857 shares of the industrial products company’s stock valued at $20,278,000 after purchasing an additional 88,491 shares during the period. Cubist Systematic Strategies LLC purchased a new position in Avery Dennison in the 2nd quarter worth about $11,733,000. Finally, JPMorgan Chase & Co. lifted its holdings in Avery Dennison by 12.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 420,232 shares of the industrial products company’s stock valued at $92,771,000 after buying an additional 46,390 shares in the last quarter. 94.17% of the stock is currently owned by institutional investors.

Insider Activity at Avery Dennison

In other Avery Dennison news, SVP Nicholas Colisto sold 3,679 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $206.00, for a total value of $757,874.00. Following 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 1.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on AVY. Barclays reduced 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. BMO Capital Markets lowered their price target on shares of Avery Dennison from $252.00 to $247.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. StockNews.com lowered shares of Avery Dennison from a “buy” rating to a “hold” rating in a report on Thursday, October 24th. UBS Group decreased their price objective on Avery Dennison from $235.00 to $207.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. Finally, JPMorgan Chase & Co. lowered shares of Avery Dennison from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $230.00 to $210.00 in a research report on Thursday, October 24th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $235.05.

Avery Dennison Trading Up 0.6 %

NYSE:AVY opened at $189.17 on Wednesday. The company has a market capitalization of $15.20 billion, a P/E ratio of 22.71, a PEG ratio of 1.52 and a beta of 0.89. The company has a current ratio of 0.92, a quick ratio of 0.62 and a debt-to-equity ratio of 0.85. The firm has a fifty day simple moving average of $195.92 and a 200-day simple moving average of $208.30. Avery Dennison Co. has a 12 month low of $181.99 and a 12 month high of $233.48.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings results 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. The company had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.20 billion. Avery Dennison had a net margin of 7.76% and a return on equity of 33.01%. Avery Dennison’s quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.10 EPS. On average, equities research analysts anticipate that Avery Dennison Co. will post 9.42 earnings per share for the current year.

Avery Dennison Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th were issued a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.86%. The ex-dividend date was Wednesday, December 4th. Avery Dennison’s dividend payout ratio (DPR) is 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.