Avery Dennison Co. (NYSE:AVY) Shares Sold by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd lessened its stake in Avery Dennison Co. (NYSE:AVY) by 36.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,942 shares of the industrial products company’s stock after selling 2,262 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Avery Dennison were worth $870,000 at the end of the most recent quarter.

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

Insider Buying and Selling

In other Avery Dennison news, SVP Nicholas Colisto sold 3,679 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $206.00, for a total transaction of $757,874.00. Following the completion of the sale, the senior vice president now owns 7,126 shares in the company, valued at $1,467,956. The trade was a 34.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.10% of the stock is currently owned by company insiders.

Avery Dennison Trading Up 0.3 %

AVY opened at $205.19 on Thursday. Avery Dennison Co. has a 12-month low of $188.92 and a 12-month high of $233.48. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.92 and a quick ratio of 0.62. The stock has a market capitalization of $16.49 billion, a PE ratio of 24.63, a P/E/G ratio of 1.60 and a beta of 0.89. The firm’s fifty day moving average price is $210.12 and its 200 day moving average price is $216.33.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 EPS for the quarter, topping the consensus estimate of $2.32 by $0.01. The business had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.20 billion. Avery Dennison had a net margin of 7.76% and a return on equity of 33.01%. The company’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter last year, the company posted $2.10 earnings per share. As a group, research analysts expect that Avery Dennison Co. will post 9.42 EPS for the current fiscal year.

Avery Dennison Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 1.72%. The ex-dividend date is Wednesday, December 4th. Avery Dennison’s dividend payout ratio is currently 42.26%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Citigroup decreased their price objective on shares of Avery Dennison from $241.00 to $240.00 and set a “neutral” rating for the company in a research note on Wednesday, October 2nd. BMO Capital Markets lowered their price target on Avery Dennison from $252.00 to $247.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Bank of America upgraded Avery Dennison from an “underperform” rating to a “buy” rating and boosted their price objective for the stock from $207.00 to $250.00 in a research note on Thursday, October 17th. StockNews.com lowered Avery Dennison from a “buy” rating to a “hold” rating in a research note on Thursday, October 24th. Finally, Barclays reduced their price target on Avery Dennison from $250.00 to $245.00 and set an “overweight” rating on the stock in a research report on Monday, October 28th. Four research analysts have rated the stock with a hold rating and eight have issued 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 target price 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.