Brooklyn Investment Group Makes New $66,000 Investment in Avery Dennison Co. (NYSE:AVY)

Brooklyn Investment Group purchased a new stake in shares of Avery Dennison Co. (NYSE:AVY) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 301 shares of the industrial products company’s stock, valued at approximately $66,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Victory Capital Management Inc. lifted its holdings in Avery Dennison by 6.8% during the 3rd 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 in the last quarter. Boston Partners lifted its holdings in shares of Avery Dennison by 3.6% in the first quarter. Boston Partners now owns 1,019,802 shares of the industrial products company’s stock worth $227,660,000 after buying an additional 35,538 shares in the last quarter. Meridiem Investment Management Ltd. grew its stake in Avery Dennison by 0.7% during the third quarter. Meridiem Investment Management Ltd. now owns 794,092 shares of the industrial products company’s stock valued at $175,261,000 after acquiring an additional 5,756 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Avery Dennison by 4.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 787,716 shares of the industrial products company’s stock worth $172,254,000 after acquiring an additional 32,467 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its stake in Avery Dennison by 0.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 699,541 shares of the industrial products company’s stock worth $154,431,000 after purchasing an additional 3,118 shares in the last quarter. Institutional investors own 94.17% of the company’s stock.

Analyst Upgrades and Downgrades

AVY has been the topic of several research analyst reports. Barclays decreased their price target on shares of 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 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 lowered Avery Dennison from a “buy” rating to a “hold” rating in a report on Thursday, October 24th. JPMorgan Chase & Co. downgraded shares of Avery Dennison from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $230.00 to $210.00 in a research note on Thursday, October 24th. Finally, Bank of America upgraded shares of Avery Dennison from an “underperform” rating to a “buy” rating and lifted their target price for the company from $207.00 to $250.00 in a research report on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $244.96.

Insiders Place Their Bets

In other news, SVP Nicholas Colisto sold 3,679 shares of Avery Dennison stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $206.00, for a total value of $757,874.00. Following the completion of the transaction, the senior vice president now owns 7,126 shares of the company’s stock, valued at $1,467,956. The trade was a 34.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.10% of the company’s stock.

Avery Dennison Price Performance

AVY stock opened at $205.15 on Friday. The stock has a market capitalization of $16.48 billion, a price-to-earnings ratio of 24.63, a PEG ratio of 1.60 and a beta of 0.89. The firm’s 50-day moving average price is $209.91 and its two-hundred day moving average price is $216.25. The company has a current ratio of 0.92, a quick ratio of 0.62 and a debt-to-equity ratio of 0.85. Avery Dennison Co. has a 12-month low of $188.92 and a 12-month high of $233.48.

Avery Dennison (NYSE:AVY) last released its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.32 by $0.01. Avery Dennison had a net margin of 7.76% and a return on equity of 33.01%. The company had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.20 billion. During the same period in the prior year, the firm earned $2.10 earnings per share. Avery Dennison’s revenue was up 4.1% on a year-over-year basis. As a group, equities analysts predict that Avery Dennison Co. will post 9.42 earnings per share for the current year.

Avery Dennison Dividend Announcement

The business 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 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date is Wednesday, December 4th. Avery Dennison’s payout ratio is 42.26%.

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.