Advisors Asset Management Inc. Has $2.65 Million Holdings in Avery Dennison Co. (NYSE:AVY)

Advisors Asset Management Inc. raised its stake in Avery Dennison Co. (NYSE:AVY) by 12.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,007 shares of the industrial products company’s stock after buying an additional 1,340 shares during the quarter. Advisors Asset Management Inc.’s holdings in Avery Dennison were worth $2,651,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cetera Investment Advisers increased its stake in shares of Avery Dennison by 195.2% in the 1st quarter. Cetera Investment Advisers now owns 17,863 shares of the industrial products company’s stock valued at $3,988,000 after acquiring an additional 11,811 shares during the last quarter. SG Americas Securities LLC increased its stake in Avery Dennison by 86.5% in the second quarter. SG Americas Securities LLC now owns 32,538 shares of the industrial products company’s stock valued at $7,114,000 after purchasing an additional 15,092 shares in the last quarter. McElhenny Sheffield Capital Management LLC bought a new position in shares of Avery Dennison during the second quarter worth $543,000. Swedbank AB grew its holdings in shares of Avery Dennison by 1.0% in the 2nd quarter. Swedbank AB now owns 462,083 shares of the industrial products company’s stock valued at $101,034,000 after buying an additional 4,673 shares during the period. Finally, Jane Street Group LLC increased its position in shares of Avery Dennison by 11.0% in the 1st quarter. Jane Street Group LLC now owns 47,420 shares of the industrial products company’s stock valued at $10,587,000 after buying an additional 4,697 shares in the last quarter. Institutional investors own 94.17% of the company’s stock.

Avery Dennison Stock Performance

Shares of AVY opened at $202.59 on Friday. The stock has a market capitalization of $16.28 billion, a price-to-earnings ratio of 24.32, a PEG ratio of 1.53 and a beta of 0.89. Avery Dennison Co. has a 12 month low of $187.93 and a 12 month high of $233.48. The firm has a fifty day simple moving average of $210.78 and a 200 day simple moving average of $216.80. 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 (NYSE:AVY) last posted its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $2.33 EPS for the quarter, topping analysts’ consensus estimates of $2.32 by $0.01. The company had revenue of $2.18 billion during 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%. The company’s quarterly revenue was up 4.1% on a year-over-year basis. During the same period in the prior year, the business posted $2.10 EPS. Research analysts forecast that Avery Dennison Co. will post 9.42 EPS for the current fiscal year.

Avery Dennison Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 1.74%. The ex-dividend date is Wednesday, December 4th. Avery Dennison’s dividend payout ratio (DPR) is 42.26%.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Bank of America upgraded Avery Dennison from an “underperform” rating to a “buy” rating and lifted their target price for the stock from $207.00 to $250.00 in a report on Thursday, October 17th. StockNews.com cut Avery Dennison from a “buy” rating to a “hold” rating in a report on Thursday, October 24th. JPMorgan Chase & Co. cut Avery Dennison from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $230.00 to $210.00 in a research note on Thursday, October 24th. Citigroup cut their price target on shares of Avery Dennison from $241.00 to $240.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 2nd. Finally, BMO Capital Markets lowered their price objective 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. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $244.96.

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.