Bank of Montreal Can boosted its holdings in Avery Dennison Co. (NYSE:AVY – Free Report) by 1.9% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 254,942 shares of the industrial products company’s stock after buying an additional 4,729 shares during the quarter. Bank of Montreal Can owned 0.32% of Avery Dennison worth $56,684,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Innealta Capital LLC purchased a new position in Avery Dennison in the 2nd quarter worth about $28,000. Larson Financial Group LLC raised its position in Avery Dennison by 100.0% in the 3rd quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company’s stock worth $31,000 after buying an additional 71 shares during the last quarter. Kennebec Savings Bank purchased a new position in Avery Dennison in the 3rd quarter worth about $36,000. Peterson Financial Group Inc. purchased a new position in Avery Dennison in the 3rd quarter worth about $39,000. Finally, Ashton Thomas Private Wealth LLC purchased a new position in Avery Dennison in the 2nd quarter worth about $42,000. Hedge funds and other institutional investors own 94.17% of the company’s stock.
Analyst Ratings Changes
A number of equities research analysts have issued reports on the company. Barclays cut 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. StockNews.com downgraded Avery Dennison from a “buy” rating to a “hold” rating in a research note on Thursday, October 24th. BMO Capital Markets cut 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. JPMorgan Chase & Co. downgraded Avery Dennison from an “overweight” rating to a “neutral” rating and cut their price target for the company from $230.00 to $210.00 in a research note on Thursday, October 24th. Finally, Citigroup cut their price target 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 investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $244.96.
Insider Buying and Selling
In related news, SVP Nicholas Colisto sold 3,679 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $206.00, for a total value of $757,874.00. Following the transaction, the senior vice president now directly owns 7,126 shares of the company’s stock, valued at approximately $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 accessible through this link. 1.10% of the stock is owned by insiders.
Avery Dennison Trading Up 0.3 %
Shares of NYSE:AVY opened at $205.19 on Thursday. The stock has a 50 day moving average of $210.12 and a 200 day moving average of $216.33. 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. The company has a market cap of $16.49 billion, a PE ratio of 24.63, a price-to-earnings-growth ratio of 1.60 and a beta of 0.89.
Avery Dennison (NYSE:AVY – Get Free Report) last posted its quarterly earnings results 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. Avery Dennison had a return on equity of 33.01% and a net margin of 7.76%. The company had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.20 billion. During the same period in the previous year, the firm earned $2.10 EPS. The firm’s revenue was up 4.1% compared to the same quarter last year. As a group, equities research analysts expect that Avery Dennison Co. will post 9.42 EPS for the current year.
Avery Dennison Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be issued a $0.88 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $3.52 dividend on an annualized basis and a yield of 1.72%. Avery Dennison’s dividend 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.
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