MetLife Investment Management LLC Sells 573 Shares of Avery Dennison Co. (NYSE:AVY)

MetLife Investment Management LLC lowered its holdings in shares of Avery Dennison Co. (NYSE:AVY) by 2.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,302 shares of the industrial products company’s stock after selling 573 shares during the period. MetLife Investment Management LLC’s holdings in Avery Dennison were worth $4,923,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of AVY. Innealta Capital LLC bought a new stake in Avery Dennison in the second quarter valued at about $28,000. Larson Financial Group LLC boosted its holdings in Avery Dennison by 100.0% during the third 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 bought a new stake in shares of Avery Dennison in the 3rd quarter valued at approximately $36,000. Peterson Financial Group Inc. acquired a new position in shares of Avery Dennison in the 3rd quarter worth approximately $39,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of Avery Dennison during the 2nd quarter worth approximately $42,000. Institutional investors own 94.17% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on AVY. BMO Capital Markets lowered their price target on Avery Dennison from $252.00 to $247.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. StockNews.com cut shares of Avery Dennison from a “buy” rating to a “hold” rating in a research report on Thursday, October 24th. Barclays reduced 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. Bank of America raised shares of Avery Dennison from an “underperform” rating to a “buy” rating and raised their price objective for the stock from $207.00 to $250.00 in a report on Thursday, October 17th. Finally, JPMorgan Chase & Co. lowered 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. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $244.96.

Avery Dennison Stock Up 0.4 %

Shares of AVY opened at $205.95 on Monday. The business’s fifty day moving average price is $209.80 and its two-hundred day moving average price is $215.98. The firm has a market capitalization of $16.55 billion, a price-to-earnings ratio of 24.72, a PEG ratio of 1.58 and a beta of 0.89. Avery Dennison Co. has a 52 week low of $190.04 and a 52 week high of $233.48. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.62 and a current ratio of 0.92.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $2.33 EPS for the quarter, topping analysts’ consensus estimates of $2.32 by $0.01. Avery Dennison had a return on equity of 33.01% and a net margin of 7.76%. The firm had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.20 billion. During the same period last year, the company earned $2.10 earnings per share. The company’s revenue was up 4.1% on a year-over-year basis. On average, analysts predict that Avery Dennison Co. will post 9.42 earnings per share for the current year.

Avery Dennison Announces Dividend

The business 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 dividend of $0.88 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.71%. Avery Dennison’s dividend payout ratio (DPR) is presently 42.26%.

Insider Activity at Avery Dennison

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

About Avery Dennison

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.