Dean Investment Associates LLC Sells 462 Shares of Avery Dennison Co. (NYSE:AVY)

Dean Investment Associates LLC lessened its stake in shares of Avery Dennison Co. (NYSE:AVY) by 3.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,855 shares of the industrial products company’s stock after selling 462 shares during the quarter. Dean Investment Associates LLC’s holdings in Avery Dennison were worth $3,059,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Simplicity Wealth LLC lifted its position in Avery Dennison by 28.6% in the 2nd quarter. Simplicity Wealth LLC now owns 1,169 shares of the industrial products company’s stock valued at $256,000 after acquiring an additional 260 shares in the last quarter. QRG Capital Management Inc. boosted its stake in shares of Avery Dennison by 12.4% in the 2nd quarter. QRG Capital Management Inc. now owns 5,151 shares of the industrial products company’s stock worth $1,126,000 after buying an additional 568 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of Avery Dennison by 86.5% in the 2nd quarter. SG Americas Securities LLC now owns 32,538 shares of the industrial products company’s stock worth $7,114,000 after buying an additional 15,092 shares during the last quarter. Czech National Bank boosted its stake in shares of Avery Dennison by 8.3% in the 2nd quarter. Czech National Bank now owns 15,350 shares of the industrial products company’s stock worth $3,356,000 after buying an additional 1,181 shares during the last quarter. Finally, Sequoia Financial Advisors LLC raised its holdings in shares of Avery Dennison by 2.2% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 4,814 shares of the industrial products company’s stock worth $1,053,000 after purchasing an additional 104 shares during the period. Institutional investors own 94.17% of the company’s stock.

Avery Dennison Stock Down 0.4 %

Shares of NYSE:AVY opened at $202.50 on Monday. Avery Dennison Co. has a 52-week low of $190.04 and a 52-week high of $233.48. The firm has a fifty day moving average of $208.28 and a 200 day moving average of $215.18. The firm has a market capitalization of $16.27 billion, a PE ratio of 24.31, a price-to-earnings-growth ratio of 1.57 and a beta of 0.87. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.62 and a current ratio of 0.92.

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

Avery Dennison Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be issued a dividend of $0.88 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.74%. Avery Dennison’s dividend payout ratio is currently 42.26%.

Analysts Set New Price Targets

A number of research firms recently commented on AVY. Barclays lowered 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. Citigroup lowered their price target on shares of Avery Dennison from $241.00 to $240.00 and set a “neutral” rating on the stock in a report on Wednesday, October 2nd. JPMorgan Chase & Co. cut shares of Avery Dennison from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $230.00 to $210.00 in a report on Thursday, October 24th. Bank of America raised shares of Avery Dennison from an “underperform” rating to a “buy” rating and lifted their price target for the stock from $207.00 to $250.00 in a report on Thursday, October 17th. Finally, BMO Capital Markets lowered their price target on shares of Avery Dennison from $252.00 to $247.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $244.96.

Insider Transactions at Avery Dennison

In other news, SVP Nicholas Colisto sold 3,679 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $206.00, for a total transaction of $757,874.00. Following the completion of the sale, the senior vice president now directly owns 7,126 shares in the company, valued at approximately $1,467,956. This represents a 34.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.10% of the stock is currently owned by company insiders.

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.