International Assets Investment Management LLC Makes New $36.55 Million Investment in Avery Dennison Co. (NYSE:AVY)

International Assets Investment Management LLC acquired a new stake in shares of Avery Dennison Co. (NYSE:AVY) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 16,557 shares of the industrial products company’s stock, valued at approximately $36,550,000.

Other large investors have also modified their holdings of the company. Innealta Capital LLC acquired a new stake in Avery Dennison during the second quarter worth about $28,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Avery Dennison in the second quarter worth about $42,000. 1620 Investment Advisors Inc. acquired a new stake in shares of Avery Dennison in the second quarter valued at about $51,000. Raleigh Capital Management Inc. raised its holdings in shares of Avery Dennison by 1,400.0% during the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the industrial products company’s stock valued at $56,000 after buying an additional 238 shares during the period. Finally, Palisade Asset Management LLC purchased a new stake in shares of Avery Dennison during the 1st quarter valued at about $64,000. 94.17% of the stock is currently owned by hedge funds and other institutional investors.

Avery Dennison Stock Performance

Avery Dennison stock opened at $207.23 on Tuesday. The company has a market cap of $16.69 billion, a PE ratio of 30.25, a P/E/G ratio of 1.78 and a beta of 0.88. Avery Dennison Co. has a 12 month low of $170.42 and a 12 month high of $233.48. The company has a fifty day moving average price of $216.73 and a two-hundred day moving average price of $218.47. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.90 and a quick ratio of 0.60.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share for the quarter, beating analysts’ consensus estimates of $2.32 by $0.01. Avery Dennison had a net margin of 7.34% and a return on equity of 33.44%. The business had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.20 billion. During the same quarter in the prior year, the firm earned $2.10 EPS. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. Research analysts expect that Avery Dennison Co. will post 9.41 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 given a dividend of $0.88 per share. The ex-dividend date is Wednesday, December 4th. This represents a $3.52 dividend on an annualized basis and a yield of 1.70%. Avery Dennison’s dividend payout ratio is currently 51.39%.

Wall Street Analysts Forecast Growth

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

Insider Activity at Avery Dennison

In other Avery Dennison news, Chairman Mitchell R. Butier sold 3,000 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $202.95, for a total value of $608,850.00. Following the sale, the chairman now directly owns 304,114 shares of the company’s stock, valued at $61,719,936.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Avery Dennison news, Chairman Mitchell R. Butier sold 7,108 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $218.12, for a total value of $1,550,396.96. Following the completion of the transaction, the chairman now owns 304,114 shares in the company, valued at approximately $66,333,345.68. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Mitchell R. Butier sold 3,000 shares of Avery Dennison stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $202.95, for a total value of $608,850.00. Following the sale, the chairman now directly owns 304,114 shares in the company, valued at approximately $61,719,936.30. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 59,108 shares of company stock worth $12,545,087 in the last 90 days. 1.10% of the stock is currently owned by company 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.