Virtu Financial LLC Takes Position in Avery Dennison Co. (NYSE:AVY)

Virtu Financial LLC purchased a new position in Avery Dennison Co. (NYSE:AVY) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 1,727 shares of the industrial products company’s stock, valued at approximately $381,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Fifth Third Bancorp boosted its holdings in shares of Avery Dennison by 28.7% during the second quarter. Fifth Third Bancorp now owns 3,487 shares of the industrial products company’s stock valued at $762,000 after acquiring an additional 777 shares during the period. 1620 Investment Advisors Inc. bought a new position in Avery Dennison in the 2nd quarter worth about $51,000. GYL Financial Synergies LLC increased its stake in shares of Avery Dennison by 17.0% in the second quarter. GYL Financial Synergies LLC now owns 1,233 shares of the industrial products company’s stock valued at $270,000 after purchasing an additional 179 shares during the period. JB Capital LLC raised its holdings in shares of Avery Dennison by 9.6% during the second quarter. JB Capital LLC now owns 13,645 shares of the industrial products company’s stock valued at $2,984,000 after buying an additional 1,200 shares during the last quarter. Finally, Raymond James Trust N.A. raised its holdings in shares of Avery Dennison by 1.8% during the second quarter. Raymond James Trust N.A. now owns 7,174 shares of the industrial products company’s stock valued at $1,569,000 after buying an additional 127 shares during the last quarter. 94.17% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

AVY has been the topic of several analyst reports. BMO Capital Markets lowered their target price on Avery Dennison from $252.00 to $247.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Barclays cut their price objective 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 raised their target price for the company from $207.00 to $250.00 in a research note on Thursday, October 17th. StockNews.com lowered shares of Avery Dennison from a “buy” rating to a “hold” rating in a research note on Thursday, October 24th. Finally, JPMorgan Chase & Co. lowered shares of Avery Dennison from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $230.00 to $210.00 in a research note on Thursday, October 24th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $244.96.

Insider Activity

In related news, SVP Nicholas Colisto sold 3,679 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $206.00, for a total transaction 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.10% of the stock is owned by company insiders.

Avery Dennison Price Performance

NYSE AVY opened at $192.92 on Tuesday. The stock has a market capitalization of $15.50 billion, a P/E ratio of 23.43, a P/E/G ratio of 1.52 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. The business’s fifty day moving average is $206.51 and its two-hundred day moving average is $214.25. Avery Dennison Co. has a 1 year low of $192.82 and a 1 year high of $233.48.

Avery Dennison (NYSE:AVY) last announced its earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.32 by $0.01. The company had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.20 billion. Avery Dennison had a return on equity of 33.01% and a net margin of 7.76%. Avery Dennison’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.10 earnings per share. On average, research analysts forecast that Avery Dennison Co. will post 9.42 earnings per share 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 given a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.82%. The ex-dividend date is Wednesday, December 4th. Avery Dennison’s dividend payout ratio (DPR) is currently 42.26%.

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.