2,281 Shares in Avery Dennison Co. (NYSE:AVY) Acquired by Paladin Wealth LLC

Paladin Wealth LLC purchased a new stake in shares of Avery Dennison Co. (NYSE:AVY) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 2,281 shares of the industrial products company’s stock, valued at approximately $504,000.

Several other hedge funds also recently modified their holdings of AVY. Swedbank AB bought a new stake in shares of Avery Dennison in the 1st quarter worth approximately $102,117,000. Jennison Associates LLC acquired a new stake in shares of Avery Dennison during the 1st quarter valued at $44,837,000. National Bank of Canada FI boosted its stake in shares of Avery Dennison by 795.2% during the 2nd quarter. National Bank of Canada FI now owns 160,248 shares of the industrial products company’s stock worth $34,190,000 after acquiring an additional 142,348 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in shares of Avery Dennison by 179.5% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 216,135 shares of the industrial products company’s stock worth $47,258,000 after acquiring an additional 138,808 shares during the last quarter. Finally, Bahl & Gaynor Inc. raised its position in shares of Avery Dennison by 51.9% during the second quarter. Bahl & Gaynor Inc. now owns 240,096 shares of the industrial products company’s stock worth $52,497,000 after purchasing an additional 81,993 shares during the period. 94.17% of the stock is currently owned by institutional investors and hedge funds.

Avery Dennison Price Performance

AVY opened at $218.03 on Monday. The stock has a fifty day moving average price of $215.50 and a 200 day moving average price of $218.90. The company has a current ratio of 0.90, a quick ratio of 0.60 and a debt-to-equity ratio of 0.89. Avery Dennison Co. has a 1 year low of $165.21 and a 1 year high of $233.48. The stock has a market cap of $17.56 billion, a price-to-earnings ratio of 31.83, a PEG ratio of 1.78 and a beta of 0.88.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $2.42 EPS for the quarter, beating the consensus estimate of $2.26 by $0.16. The business had revenue of $2.24 billion during the quarter, compared to analysts’ expectations of $2.18 billion. Avery Dennison had a return on equity of 33.44% and a net margin of 7.34%. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.92 EPS. Analysts forecast that Avery Dennison Co. will post 9.41 EPS for the current fiscal year.

Avery Dennison Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th were issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date of this dividend was Wednesday, September 4th. Avery Dennison’s dividend payout ratio is presently 51.39%.

Insiders Place Their Bets

In other news, Chairman Mitchell R. Butier sold 7,108 shares of Avery Dennison stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $218.12, for a total value of $1,550,396.96. Following the transaction, the chairman now owns 304,114 shares of the company’s stock, valued at $66,333,345.68. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Chairman Mitchell R. Butier sold 7,108 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $218.12, for a total value of $1,550,396.96. Following the sale, the chairman now directly owns 304,114 shares of the company’s stock, valued at approximately $66,333,345.68. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Mitchell R. Butier sold 3,000 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $202.95, for a total value of $608,850.00. Following the transaction, the chairman now directly owns 304,114 shares of the company’s stock, valued at $61,719,936.30. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 59,108 shares of company stock valued at $12,545,087 over the last three months. 1.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on AVY shares. Barclays began coverage on Avery Dennison in a research note on Monday, October 7th. They issued an “overweight” rating and a $250.00 price target on the stock. UBS Group lowered shares of Avery Dennison from a “buy” rating to a “neutral” rating and cut their price target for the company from $262.00 to $235.00 in a report on Thursday, July 25th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $252.00 price objective (down previously from $254.00) on shares of Avery Dennison in a research note on Thursday, September 19th. Citigroup lowered their price objective on shares of Avery Dennison from $241.00 to $240.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 2nd. Finally, Stifel Nicolaus began coverage on Avery Dennison in a report on Tuesday, July 9th. They issued a “buy” rating and a $274.60 target price for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $242.96.

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.