Accurate Wealth Management LLC Increases Stock Position in Avery Dennison Co. (NYSE:AVY)

Accurate Wealth Management LLC grew its stake in Avery Dennison Co. (NYSE:AVY) by 1.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,571 shares of the industrial products company’s stock after buying an additional 126 shares during the period. Accurate Wealth Management LLC’s holdings in Avery Dennison were worth $2,544,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Victory Capital Management Inc. raised its holdings in Avery Dennison by 2.1% during the 2nd quarter. Victory Capital Management Inc. now owns 1,326,548 shares of the industrial products company’s stock valued at $290,050,000 after buying an additional 27,771 shares during the last quarter. Boston Partners grew its position in shares of Avery Dennison by 3.6% in the 1st 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 during the period. Dimensional Fund Advisors LP grew its position in shares of Avery Dennison by 4.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 787,716 shares of the industrial products company’s stock worth $172,254,000 after buying an additional 32,467 shares during the period. Bank of New York Mellon Corp grew its position in shares of Avery Dennison by 2.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 646,223 shares of the industrial products company’s stock worth $141,297,000 after buying an additional 17,158 shares during the period. Finally, Envestnet Asset Management Inc. grew its position in shares of Avery Dennison by 1.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 590,320 shares of the industrial products company’s stock worth $129,074,000 after buying an additional 6,773 shares during the period. Hedge funds and other institutional investors own 94.17% of the company’s stock.

Insider Buying and Selling at Avery Dennison

In other 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 transaction of $1,550,396.96. Following the sale, the chairman now owns 304,114 shares in the company, valued at approximately $66,333,345.68. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Chairman Mitchell R. Butier sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $213.75, for a total value of $2,137,500.00. Following the sale, the chairman now owns 304,114 shares in the company, valued at $65,004,367.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Mitchell R. Butier sold 7,108 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $218.12, for a total value of $1,550,396.96. Following the completion of the sale, the chairman now owns 304,114 shares in the company, valued at approximately $66,333,345.68. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 59,108 shares of company stock worth $12,545,087 over the last quarter. Insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

AVY has been the topic of several recent analyst reports. Stifel Nicolaus initiated coverage on shares of Avery Dennison in a research report on Tuesday, July 9th. They set a “buy” rating and a $274.60 price objective on the stock. Citigroup cut their price objective on shares of Avery Dennison from $241.00 to $240.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 2nd. BMO Capital Markets reissued an “outperform” rating and set a $252.00 price objective (down from $254.00) on shares of Avery Dennison in a research report on Thursday, September 19th. UBS Group cut shares of Avery Dennison from a “buy” rating to a “neutral” rating and lowered their target price for the company from $262.00 to $235.00 in a research note on Thursday, July 25th. Finally, Bank of America upgraded shares of Avery Dennison from an “underperform” rating to a “buy” rating and upped their target price for the company from $207.00 to $250.00 in a research note on Thursday. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $246.78.

Avery Dennison Stock Down 0.5 %

Shares of AVY opened at $217.33 on Friday. The company has a market cap of $17.51 billion, a PE ratio of 31.73, a P/E/G ratio of 1.78 and a beta of 0.88. The business has a fifty day moving average of $216.80 and a 200 day moving average of $218.78. Avery Dennison Co. has a 52-week low of $165.21 and a 52-week high of $233.48. The company has a quick ratio of 0.60, a current ratio of 0.90 and a debt-to-equity ratio of 0.89.

Avery Dennison (NYSE:AVY) last released its earnings results on Tuesday, July 23rd. The industrial products company reported $2.42 earnings per share for the quarter, topping the consensus estimate of $2.26 by $0.16. Avery Dennison had a return on equity of 33.44% and a net margin of 7.34%. The business had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.18 billion. During the same period last year, the company earned $1.92 earnings per share. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. On average, sell-side analysts expect that Avery Dennison Co. will post 9.41 EPS for the current year.

Avery Dennison Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th were issued a $0.88 dividend. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $3.52 annualized dividend and a dividend yield of 1.62%. Avery Dennison’s payout ratio is currently 51.39%.

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.