Great Lakes Advisors LLC cut its holdings in Avery Dennison Corp (NYSE:AVY) by 21.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,333 shares of the industrial products company’s stock after selling 1,719 shares during the quarter. Great Lakes Advisors LLC’s holdings in Avery Dennison were worth $686,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. lifted its stake in Avery Dennison by 0.5% in the third quarter. Vanguard Group Inc. now owns 9,807,709 shares of the industrial products company’s stock valued at $1,062,666,000 after buying an additional 44,059 shares during the period. Legal & General Group Plc lifted its stake in Avery Dennison by 0.9% in the third quarter. Legal & General Group Plc now owns 476,122 shares of the industrial products company’s stock valued at $51,587,000 after buying an additional 4,100 shares during the period. B. Riley Wealth Management Inc. acquired a new position in Avery Dennison in the third quarter valued at approximately $449,000. Nordea Investment Management AB lifted its stake in Avery Dennison by 3.1% in the third quarter. Nordea Investment Management AB now owns 213,850 shares of the industrial products company’s stock valued at $23,169,000 after buying an additional 6,354 shares during the period. Finally, Kentucky Retirement Systems acquired a new position in Avery Dennison in the third quarter valued at approximately $400,000. 83.98% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:AVY opened at $91.97 on Friday. The company has a current ratio of 1.00, a quick ratio of 0.71 and a debt-to-equity ratio of 1.24. Avery Dennison Corp has a twelve month low of $86.06 and a twelve month high of $123.67. The company has a market cap of $8.14 billion, a PE ratio of 18.39, a PEG ratio of 2.22 and a beta of 1.38.

Avery Dennison (NYSE:AVY) last issued its earnings results on Tuesday, October 23rd. The industrial products company reported $1.45 earnings per share for the quarter, missing analysts’ consensus estimates of $1.47 by ($0.02). Avery Dennison had a return on equity of 49.86% and a net margin of 4.36%. The firm had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.75 billion. During the same period in the previous year, the company earned $1.26 earnings per share. Avery Dennison’s revenue for the quarter was up 4.8% compared to the same quarter last year. Equities analysts predict that Avery Dennison Corp will post 6.04 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 19th. Stockholders of record on Wednesday, December 5th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date is Tuesday, December 4th. Avery Dennison’s payout ratio is 41.60%.

In other news, Director David E. I. Pyott sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 27th. The stock was sold at an average price of $93.00, for a total transaction of $186,000.00. Following the transaction, the director now directly owns 17,293 shares of the company’s stock, valued at $1,608,249. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.30% of the stock is owned by corporate insiders.

Several equities analysts have issued reports on the company. Zacks Investment Research lowered Avery Dennison from a “buy” rating to a “hold” rating in a research note on Tuesday, September 25th. Loop Capital raised Avery Dennison from a “hold” rating to a “buy” rating and set a $124.00 price target on the stock in a research note on Thursday, September 13th. Citigroup dropped their price target on Avery Dennison from $130.00 to $128.00 and set a “buy” rating on the stock in a research note on Thursday, October 11th. ValuEngine raised Avery Dennison from a “sell” rating to a “hold” rating in a research note on Wednesday. Finally, UBS Group set a $135.00 price target on Avery Dennison and gave the company a “buy” rating in a research note on Tuesday, November 20th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. Avery Dennison presently has an average rating of “Buy” and a consensus target price of $120.25.

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Avery Dennison Profile

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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