Claraphi Advisory Network LLC lowered its stake in shares of Avery Dennison Corp (NYSE:AVY) by 20.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,513 shares of the industrial products company’s stock after selling 639 shares during the period. Claraphi Advisory Network LLC’s holdings in Avery Dennison were worth $273,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in Avery Dennison by 3.8% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 12,435 shares of the industrial products company’s stock valued at $1,270,000 after purchasing an additional 460 shares during the period. Dynamic Technology Lab Private Ltd raised its position in Avery Dennison by 17.5% in the second quarter. Dynamic Technology Lab Private Ltd now owns 3,409 shares of the industrial products company’s stock valued at $348,000 after purchasing an additional 508 shares during the period. Metropolitan Life Insurance Co. NY raised its position in Avery Dennison by 3.0% in the second quarter. Metropolitan Life Insurance Co. NY now owns 17,609 shares of the industrial products company’s stock valued at $1,798,000 after purchasing an additional 511 shares during the period. Janney Montgomery Scott LLC raised its position in Avery Dennison by 2.5% in the second quarter. Janney Montgomery Scott LLC now owns 22,174 shares of the industrial products company’s stock valued at $2,264,000 after purchasing an additional 534 shares during the period. Finally, IFM Investors Pty Ltd raised its position in Avery Dennison by 16.0% in the third quarter. IFM Investors Pty Ltd now owns 5,265 shares of the industrial products company’s stock valued at $570,000 after purchasing an additional 727 shares during the period. Institutional investors own 83.85% of the company’s stock.

In related news, Director Anthony Anderson sold 1,275 shares of the business’s stock in a transaction on Friday, September 7th. The stock was sold at an average price of $104.75, for a total value of $133,556.25. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 1.30% of the stock is currently owned by insiders.

A number of equities research analysts have commented on AVY shares. Zacks Investment Research upgraded Avery Dennison from a “sell” rating to a “hold” rating in a research report on Monday, November 12th. JPMorgan Chase & Co. upgraded Avery Dennison from a “neutral” rating to an “overweight” rating and reduced their target price for the company from $110.00 to $105.00 in a research report on Wednesday, October 24th. Citigroup reduced their target price on Avery Dennison from $130.00 to $128.00 and set a “buy” rating on the stock in a research report on Thursday, October 11th. Loop Capital upgraded Avery Dennison from a “hold” rating to a “buy” rating and set a $124.00 target price on the stock in a research report on Thursday, September 13th. Finally, Bank of America lifted their target price on Avery Dennison from $114.00 to $126.00 and gave the company a “buy” rating in a research report on Wednesday, July 25th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $120.25.

AVY stock opened at $92.44 on Tuesday. The company has a current ratio of 1.00, a quick ratio of 0.71 and a debt-to-equity ratio of 1.24. The firm has a market capitalization of $8.14 billion, a P/E ratio of 18.49, a PEG ratio of 2.22 and a beta of 1.37. Avery Dennison Corp has a 12-month low of $86.06 and a 12-month high of $123.67.

Avery Dennison (NYSE:AVY) last posted its quarterly earnings data on Tuesday, October 23rd. The industrial products company reported $1.45 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.47 by ($0.02). The firm had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.75 billion. Avery Dennison had a net margin of 4.36% and a return on equity of 49.86%. Avery Dennison’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.26 EPS. On average, research analysts expect that Avery Dennison Corp will post 6.04 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 19th. Investors of record on Wednesday, December 5th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Tuesday, December 4th. This represents a $2.08 annualized dividend and a dividend yield of 2.25%. Avery Dennison’s dividend payout ratio is presently 41.60%.

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About Avery Dennison

Avery Dennison Corporation produces and sells pressure-sensitive materials worldwide. The company's Label and Graphic Materials segment offers pressure-sensitive label and packaging materials; and graphics and reflective products under the Fasson, JAC, Avery Dennison, and Mactac brands. It also offers durable cast and reflective films.

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Institutional Ownership by Quarter for Avery Dennison (NYSE:AVY)

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