301 Shares in Avery Dennison Co. (NYSE:AVY) Purchased by Brooklyn Investment Group

Brooklyn Investment Group bought a new position in Avery Dennison Co. (NYSE:AVY) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 301 shares of the industrial products company’s stock, valued at approximately $66,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Innealta Capital LLC bought a new position in Avery Dennison in the second quarter valued at about $28,000. Larson Financial Group LLC raised its position in Avery Dennison by 100.0% in the third quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 71 shares during the period. Kennebec Savings Bank bought a new stake in shares of Avery Dennison during the 3rd quarter valued at $36,000. Peterson Financial Group Inc. purchased a new stake in shares of Avery Dennison in the 3rd quarter worth $39,000. Finally, Ashton Thomas Private Wealth LLC purchased a new position in Avery Dennison during the second quarter valued at $42,000. Institutional investors own 94.17% of the company’s stock.

Avery Dennison Price Performance

AVY stock opened at $205.15 on Friday. Avery Dennison Co. has a 52 week low of $188.92 and a 52 week high of $233.48. The firm has a market capitalization of $16.48 billion, a P/E ratio of 24.63, a price-to-earnings-growth ratio of 1.60 and a beta of 0.89. The company has a fifty day simple moving average of $209.91 and a two-hundred day simple moving average of $216.25. 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 (NYSE:AVY) last issued 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. The company had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.20 billion. Avery Dennison had a return on equity of 33.01% and a net margin of 7.76%. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same period in the previous year, the firm posted $2.10 earnings per share. Analysts anticipate that Avery Dennison Co. will post 9.42 earnings per share for the current fiscal year.

Avery Dennison Announces Dividend

The company also recently disclosed 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 annualized dividend and a yield of 1.72%. The ex-dividend date is Wednesday, December 4th. Avery Dennison’s payout ratio is 42.26%.

Insider Buying and Selling at Avery Dennison

In related news, SVP Nicholas Colisto sold 3,679 shares of the company’s 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 transaction, the senior vice president now directly owns 7,126 shares in the company, valued at approximately $1,467,956. This represents a 34.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

AVY has been the topic of a number of analyst reports. Bank of America raised Avery Dennison from an “underperform” rating to a “buy” rating and lifted their price objective for the company from $207.00 to $250.00 in a research report on Thursday, October 17th. BMO Capital Markets dropped 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 cut shares of Avery Dennison from a “buy” rating to a “hold” rating in a research note on Thursday, October 24th. Citigroup dropped their price objective 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. Finally, JPMorgan Chase & Co. downgraded Avery Dennison from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $230.00 to $210.00 in a research note on Thursday, October 24th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Avery Dennison currently has an average rating of “Moderate Buy” and an average 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.