Avery Dennison Co. (NYSE:AVY) Stake Increased by Lindenwold Advisors INC

Lindenwold Advisors INC raised its position in shares of Avery Dennison Co. (NYSE:AVY) by 0.6% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,266 shares of the industrial products company’s stock after buying an additional 59 shares during the quarter. Avery Dennison comprises 1.1% of Lindenwold Advisors INC’s portfolio, making the stock its 28th largest position. Lindenwold Advisors INC’s holdings in Avery Dennison were worth $2,266,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in AVY. Intech Investment Management LLC lifted its position in Avery Dennison by 3.3% in the second quarter. Intech Investment Management LLC now owns 1,559 shares of the industrial products company’s stock worth $341,000 after purchasing an additional 50 shares during the period. Empirical Finance LLC raised its holdings in shares of Avery Dennison by 2.0% during the third quarter. Empirical Finance LLC now owns 2,822 shares of the industrial products company’s stock valued at $623,000 after acquiring an additional 55 shares during the period. Procyon Advisors LLC raised its stake in Avery Dennison by 4.0% during the 3rd 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. Bailard Inc. lifted its stake in Avery Dennison by 0.5% in the 2nd quarter. Bailard Inc. now owns 12,202 shares of the industrial products company’s stock worth $2,668,000 after acquiring an additional 61 shares in the last quarter. Finally, Legacy Wealth Asset Management LLC lifted its position in shares of Avery Dennison by 4.5% in the third quarter. Legacy Wealth Asset Management LLC now owns 1,479 shares of the industrial products company’s stock worth $327,000 after purchasing an additional 64 shares in the last quarter. 94.17% of the stock is currently owned by institutional investors.

Avery Dennison Stock Performance

Avery Dennison stock opened at $198.31 on Tuesday. The company has a quick ratio of 0.62, a current ratio of 0.92 and a debt-to-equity ratio of 0.85. The stock has a market capitalization of $15.93 billion, a price-to-earnings ratio of 23.81, a P/E/G ratio of 1.52 and a beta of 0.89. Avery Dennison Co. has a 12-month low of $186.66 and a 12-month high of $233.48. The stock has a 50-day simple moving average of $212.79 and a 200 day simple moving average of $217.52.

Avery Dennison (NYSE:AVY) last released its earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 EPS 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 company had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.20 billion. During the same period last year, the firm earned $2.10 EPS. The business’s revenue for the quarter was up 4.1% on a year-over-year basis. On average, research analysts anticipate that Avery Dennison Co. will post 9.42 earnings per share for the current fiscal year.

Avery Dennison Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be paid a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.77%. The ex-dividend date is Wednesday, December 4th. Avery Dennison’s payout ratio is 42.26%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on AVY shares. StockNews.com cut Avery Dennison from a “buy” rating to a “hold” rating in a research report on Thursday, October 24th. Bank of America upgraded Avery Dennison from an “underperform” rating to a “buy” rating and lifted their price objective for the stock from $207.00 to $250.00 in a research note on Thursday, October 17th. Barclays cut their target price on shares of Avery Dennison from $250.00 to $245.00 and set an “overweight” rating for the company in a research note on Monday, October 28th. Citigroup reduced their price objective on Avery Dennison from $241.00 to $240.00 and set a “neutral” rating for the company in a research report on Wednesday, October 2nd. Finally, BMO Capital Markets decreased their target price on shares of Avery Dennison from $252.00 to $247.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $244.96.

Insider Activity at Avery Dennison

In other Avery Dennison news, Chairman Mitchell R. Butier sold 7,108 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $218.12, for a total value of $1,550,396.96. Following the completion of the transaction, the chairman now directly owns 304,114 shares of the company’s stock, valued at approximately $66,333,345.68. The trade was a 2.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.10% of the stock is currently owned by corporate insiders.

Avery Dennison Company 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.