Sompo Asset Management Co. Ltd. Has $3.68 Million Holdings in Avery Dennison Co. (NYSE:AVY)

Sompo Asset Management Co. Ltd. trimmed its holdings in Avery Dennison Co. (NYSE:AVY) by 4.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,652 shares of the industrial products company’s stock after selling 823 shares during the period. Sompo Asset Management Co. Ltd.’s holdings in Avery Dennison were worth $3,676,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the business. Shell Asset Management Co. acquired a new stake in shares of Avery Dennison in the 1st quarter valued at about $382,000. EP Wealth Advisors LLC acquired a new position in Avery Dennison during the 1st quarter worth approximately $208,000. Canada Pension Plan Investment Board grew its stake in shares of Avery Dennison by 10.9% during the 1st quarter. Canada Pension Plan Investment Board now owns 112,849 shares of the industrial products company’s stock worth $25,194,000 after acquiring an additional 11,122 shares in the last quarter. Public Employees Retirement Association of Colorado raised its holdings in shares of Avery Dennison by 577.3% in the first quarter. Public Employees Retirement Association of Colorado now owns 61,910 shares of the industrial products company’s stock valued at $13,821,000 after purchasing an additional 52,769 shares during the last quarter. Finally, Zurich Insurance Group Ltd FI acquired a new position in Avery Dennison during the first quarter worth $1,607,000. 94.17% of the stock is currently owned by institutional investors.

Avery Dennison Stock Performance

NYSE AVY opened at $202.59 on Friday. Avery Dennison Co. has a 52-week low of $187.93 and a 52-week high of $233.48. The stock has a market cap of $16.28 billion, a PE ratio of 24.32, a P/E/G ratio of 1.53 and a beta of 0.89. The firm has a 50-day moving average of $210.78 and a 200-day moving average of $216.80. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.62 and a current ratio of 0.92.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $2.20 billion. Avery Dennison had a return on equity of 33.01% and a net margin of 7.76%. The business’s revenue was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.10 earnings per share. On average, sell-side analysts anticipate that Avery Dennison Co. will post 9.42 EPS for the current 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 issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date is Wednesday, December 4th. Avery Dennison’s dividend payout ratio is currently 42.26%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on AVY shares. Bank of America raised shares of Avery Dennison from an “underperform” rating to a “buy” rating and boosted their price target for the stock from $207.00 to $250.00 in a research report on Thursday, October 17th. JPMorgan Chase & Co. cut Avery Dennison from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $230.00 to $210.00 in a research report on Thursday, October 24th. Citigroup lowered their price target on Avery Dennison from $241.00 to $240.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 2nd. StockNews.com downgraded Avery Dennison from a “buy” rating to a “hold” rating in a report on Thursday, October 24th. Finally, BMO Capital Markets lowered their target price 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. Four equities 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, Avery Dennison presently has an average rating of “Moderate Buy” and a consensus price target of $244.96.

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.