Brown Brothers Harriman & Co. Has $232,000 Stake in Avery Dennison Co. (NYSE:AVY)

Brown Brothers Harriman & Co. boosted its position in shares of Avery Dennison Co. (NYSE:AVY) by 6.5% in the third quarter, Holdings Channel reports. The fund owned 1,049 shares of the industrial products company’s stock after acquiring an additional 64 shares during the period. Brown Brothers Harriman & Co.’s holdings in Avery Dennison were worth $232,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Innealta Capital LLC acquired a new position in Avery Dennison during the 2nd quarter worth $28,000. Larson Financial Group LLC increased its holdings in shares of Avery Dennison by 100.0% during the 3rd quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 71 shares during the period. Kennebec Savings Bank bought a new position in shares of Avery Dennison during the 3rd quarter worth about $36,000. Peterson Financial Group Inc. bought a new position in shares of Avery Dennison during the 3rd quarter worth about $39,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of Avery Dennison during the 2nd quarter worth about $42,000. Institutional investors and hedge funds own 94.17% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. BMO Capital Markets dropped their price objective 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. JPMorgan Chase & Co. downgraded shares of Avery Dennison from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $230.00 to $210.00 in a report on Thursday, October 24th. Barclays lowered their target price on shares of Avery Dennison from $250.00 to $245.00 and set an “overweight” rating on the stock in a research note on Monday, October 28th. Bank of America raised 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, October 17th. Finally, Citigroup lowered their target price 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. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $244.96.

Insider Activity

In related news, SVP Nicholas Colisto sold 3,679 shares of the firm’s stock in a transaction dated 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 owns 7,126 shares in the company, valued at $1,467,956. This trade represents a 34.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.10% of the stock is currently owned by corporate insiders.

Avery Dennison Stock Performance

Shares of NYSE:AVY opened at $205.19 on Thursday. Avery Dennison Co. has a twelve month low of $188.92 and a twelve month high of $233.48. The firm 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. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.62 and a current ratio of 0.92. The business has a fifty day moving average of $210.12 and a 200-day moving average of $216.33.

Avery Dennison (NYSE:AVY) last announced its earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $2.20 billion. During the same period last year, the company posted $2.10 earnings per share. The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. On average, equities research analysts predict that Avery Dennison Co. will post 9.42 EPS for the current fiscal year.

Avery Dennison Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be paid a $0.88 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.72%. Avery Dennison’s dividend payout ratio (DPR) 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.