SG Americas Securities LLC increased its holdings in Avery Dennison Corp (NYSE:AVY) by 203.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,872 shares of the industrial products company’s stock after acquiring an additional 26,718 shares during the quarter. SG Americas Securities LLC’s holdings in Avery Dennison were worth $4,320,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in Avery Dennison by 3.8% during the 2nd 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 in the last quarter. Dynamic Technology Lab Private Ltd increased its stake in Avery Dennison by 17.5% during the 2nd 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 in the last quarter. Metropolitan Life Insurance Co. NY increased its stake in Avery Dennison by 3.0% during the 2nd 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 in the last quarter. Janney Montgomery Scott LLC increased its stake in Avery Dennison by 2.5% during the 2nd 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 in the last quarter. Finally, IFM Investors Pty Ltd increased its stake in Avery Dennison by 16.0% during the 3rd 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 in the last quarter. Institutional investors own 83.85% of the company’s stock.

AVY 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 company has a market capitalization of $8.14 billion, a P/E ratio of 18.49, a price-to-earnings-growth 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 analysts’ consensus estimates of $1.47 by ($0.02). The business had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.75 billion. Avery Dennison had a return on equity of 49.86% and a net margin of 4.36%. The business’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.26 EPS. On average, equities research analysts predict that Avery Dennison Corp will post 6.04 earnings per share for the current year.

The firm 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. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date of this dividend is Tuesday, December 4th. Avery Dennison’s payout ratio is 41.60%.

A number of analysts have weighed in on AVY shares. Citigroup reduced their price objective on shares of Avery Dennison from $128.00 to $122.00 and set a “buy” rating for the company in a research note on Wednesday, October 24th. Bank of America raised their price objective on shares of Avery Dennison from $114.00 to $126.00 and gave the company a “buy” rating in a research note on Wednesday, July 25th. Loop Capital upgraded shares of Avery Dennison from a “hold” rating to a “buy” rating and set a $124.00 price objective for the company in a research note on Thursday, September 13th. Zacks Investment Research lowered shares of Avery Dennison from a “buy” rating to a “hold” rating in a research note on Tuesday, September 25th. Finally, KeyCorp reiterated a “hold” rating on shares of Avery Dennison in a research note on Tuesday, October 23rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company’s stock. Avery Dennison currently has an average rating of “Buy” and an average target price of $120.25.

In related news, Director Anthony Anderson sold 1,275 shares of the firm’s stock in a transaction that occurred on Friday, September 7th. The shares were 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 available at this hyperlink. Company insiders own 1.30% of the company’s stock.

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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.

Further Reading: Growth Stocks

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

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