Olympiad Research LP Buys Shares of 1,203 Avery Dennison Co. (NYSE:AVY)

Olympiad Research LP bought a new stake in shares of Avery Dennison Co. (NYSE:AVY) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 1,203 shares of the industrial products company’s stock, valued at approximately $266,000.

Other large investors also recently added to or reduced their stakes in the company. Innealta Capital LLC acquired a new position in Avery Dennison during the 2nd quarter valued at about $28,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of Avery Dennison in the 2nd quarter valued at about $42,000. 1620 Investment Advisors Inc. bought a new stake in shares of Avery Dennison in the 2nd quarter valued at about $51,000. Raleigh Capital Management Inc. increased its stake in shares of Avery Dennison by 1,400.0% in the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the industrial products company’s stock valued at $56,000 after acquiring an additional 238 shares during the last quarter. Finally, Versant Capital Management Inc increased its stake in shares of Avery Dennison by 936.7% in the 2nd quarter. Versant Capital Management Inc now owns 311 shares of the industrial products company’s stock valued at $68,000 after acquiring an additional 281 shares during the last quarter. 94.17% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Chairman Mitchell R. Butier sold 10,000 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $212.90, for a total value of $2,129,000.00. Following the completion of the sale, the chairman now owns 304,114 shares of the company’s stock, valued at approximately $64,745,870.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Avery Dennison news, Chairman Mitchell R. Butier sold 10,000 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $212.90, for a total transaction of $2,129,000.00. Following the completion of the sale, the chairman now owns 304,114 shares of the company’s stock, valued at $64,745,870.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Mitchell R. Butier sold 3,000 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $206.82, for a total value of $620,460.00. Following the sale, the chairman now directly owns 304,114 shares of the company’s stock, valued at $62,896,857.48. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 40,108 shares of company stock valued at $8,561,057. 1.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. BMO Capital Markets lowered their price target on Avery Dennison from $252.00 to $247.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Bank of America raised Avery Dennison from an “underperform” rating to a “buy” rating and upped their price target for the company from $207.00 to $250.00 in a research note on Thursday, October 17th. StockNews.com cut Avery Dennison from a “buy” rating to a “hold” rating in a research note on Thursday, October 24th. Barclays lowered their price target on Avery Dennison from $250.00 to $245.00 and set an “overweight” rating for the company in a research note on Monday, October 28th. Finally, Citigroup lowered their target price 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. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $244.96.

Avery Dennison Price Performance

Shares of AVY opened at $205.45 on Friday. The stock has a market capitalization of $16.51 billion, a P/E ratio of 24.66, a P/E/G ratio of 1.58 and a beta of 0.89. Avery Dennison Co. has a twelve month low of $176.75 and a twelve month high of $233.48. The company has a 50 day moving average of $214.90 and a 200-day moving average of $218.05. 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 released its quarterly earnings data 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. The company had revenue of $2.18 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.10 EPS. As a group, equities research analysts forecast that Avery Dennison Co. will post 9.41 EPS for the current fiscal year.

Avery Dennison Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be issued a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.71%. The ex-dividend date is Wednesday, December 4th. Avery Dennison’s payout ratio is presently 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.