BNP Paribas Financial Markets Grows Stock Holdings in Avery Dennison Co. (NYSE:AVY)

BNP Paribas Financial Markets raised its position in Avery Dennison Co. (NYSE:AVY) by 22.7% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 117,980 shares of the industrial products company’s stock after acquiring an additional 21,806 shares during the quarter. BNP Paribas Financial Markets owned approximately 0.15% of Avery Dennison worth $26,045,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the business. Innealta Capital LLC purchased a new position in shares of Avery Dennison during the 2nd quarter valued at about $28,000. Larson Financial Group LLC grew its holdings in Avery Dennison by 100.0% during the 3rd quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company’s stock valued at $31,000 after buying an additional 71 shares in the last quarter. Kennebec Savings Bank bought a new stake in Avery Dennison in the third quarter worth $36,000. Peterson Financial Group Inc. bought a new stake in shares of Avery Dennison in the 3rd quarter worth about $39,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in Avery Dennison during the second quarter worth approximately $42,000. Institutional investors own 94.17% of the company’s stock.

Avery Dennison Trading Up 0.4 %

Shares of AVY opened at $205.89 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.62 and a debt-to-equity ratio of 0.85. The firm has a market capitalization of $16.54 billion, a P/E ratio of 24.72, a P/E/G ratio of 1.58 and a beta of 0.89. The firm has a 50-day moving average price of $209.80 and a 200 day moving average price of $216.12. Avery Dennison Co. has a 12-month low of $190.04 and a 12-month high of $233.48.

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

Avery Dennison Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be given a dividend of $0.88 per share. The ex-dividend date is Wednesday, December 4th. This represents a $3.52 annualized dividend and a dividend yield of 1.71%. Avery Dennison’s dividend payout ratio is currently 42.26%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Citigroup reduced 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. StockNews.com cut shares of Avery Dennison from a “buy” rating to a “hold” rating in a research report on Thursday, October 24th. JPMorgan Chase & Co. downgraded shares of Avery Dennison from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $230.00 to $210.00 in a research note on Thursday, October 24th. 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. Finally, BMO Capital Markets dropped 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. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Avery Dennison currently has a consensus rating of “Moderate Buy” and an average price target of $244.96.

Insider Buying and Selling at Avery Dennison

In other 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 sale, the senior vice president now owns 7,126 shares of the company’s stock, valued at approximately $1,467,956. This 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 can be accessed through the SEC website. 1.10% of the stock is currently owned by corporate 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.