Avery Dennison Co. (NYSE:AVY) Shares Acquired by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. lifted its stake in shares of Avery Dennison Co. (NYSE:AVY) by 6.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,049 shares of the industrial products company’s stock after acquiring an additional 64 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Avery Dennison were worth $232,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Daiwa Securities Group Inc. increased its stake in shares of Avery Dennison by 13.4% during the third quarter. Daiwa Securities Group Inc. now owns 9,914 shares of the industrial products company’s stock valued at $2,189,000 after acquiring an additional 1,175 shares during the period. Westfield Capital Management Co. LP grew its position in Avery Dennison by 1.9% in the third quarter. Westfield Capital Management Co. LP now owns 497,849 shares of the industrial products company’s stock worth $109,905,000 after buying an additional 9,505 shares during the last quarter. Larson Financial Group LLC grew its position in Avery Dennison by 100.0% in the third quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company’s stock worth $31,000 after buying an additional 71 shares during the last quarter. Cerity Partners LLC grew its position in Avery Dennison by 46.3% in the third quarter. Cerity Partners LLC now owns 104,891 shares of the industrial products company’s stock worth $23,156,000 after buying an additional 33,210 shares during the last quarter. Finally, Nicolet Advisory Services LLC grew its position in Avery Dennison by 3.2% in the third quarter. Nicolet Advisory Services LLC now owns 2,341 shares of the industrial products company’s stock worth $498,000 after buying an additional 72 shares during the last quarter. Institutional investors and hedge funds own 94.17% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on AVY. Barclays decreased their price target on shares of Avery Dennison from $250.00 to $245.00 and set an “overweight” rating on the stock in a research report on Monday, October 28th. JPMorgan Chase & Co. lowered shares of Avery Dennison from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $230.00 to $210.00 in a research report on Thursday, October 24th. Bank of America upgraded shares of Avery Dennison from an “underperform” rating to a “buy” rating and lifted their price target for the stock from $207.00 to $250.00 in a research report on Thursday, October 17th. BMO Capital Markets lowered their price objective on shares of Avery Dennison from $252.00 to $247.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Finally, Citigroup decreased their target price on Avery Dennison from $241.00 to $240.00 and set a “neutral” rating for the company in a research report on Wednesday, October 2nd. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $244.96.

Avery Dennison Trading Up 0.3 %

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

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

Avery Dennison Announces Dividend

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

Insider Activity at Avery Dennison

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

Avery Dennison 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.