First Allied Advisory Services Inc. decreased its position in shares of Avery Dennison Corporation (NYSE:AVY) by 28.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,540 shares of the industrial products company’s stock after selling 1,804 shares during the period. First Allied Advisory Services Inc.’s holdings in Avery Dennison were worth $443,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Acrospire Investment Management LLC bought a new position in shares of Avery Dennison in the second quarter valued at $129,000. Captrust Financial Advisors bought a new position in shares of Avery Dennison in the second quarter valued at $130,000. Pacad Investment Ltd. bought a new position in shares of Avery Dennison in the second quarter valued at $141,000. Conning Inc. bought a new position in shares of Avery Dennison in the third quarter valued at $200,000. Finally, Davidson & Garrard Inc. bought a new position in shares of Avery Dennison in the third quarter valued at $202,000. 85.42% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Avery Dennison Corporation (NYSE AVY) opened at $114.37 on Thursday. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.82 and a current ratio of 1.13. Avery Dennison Corporation has a one year low of $69.53 and a one year high of $115.56. The stock has a market cap of $10,076.64, a price-to-earnings ratio of 24.51, a price-to-earnings-growth ratio of 3.32 and a beta of 1.24.

Avery Dennison (NYSE:AVY) last announced its earnings results on Wednesday, October 25th. The industrial products company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.05. Avery Dennison had a net margin of 6.27% and a return on equity of 40.52%. The company had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same period in the previous year, the business earned $1.01 EPS. The company’s revenue was up 11.3% on a year-over-year basis. equities research analysts anticipate that Avery Dennison Corporation will post 4.93 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 20th. Shareholders of record on Wednesday, December 6th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.57%. The ex-dividend date is Tuesday, December 5th. Avery Dennison’s dividend payout ratio (DPR) is currently 40.18%.

In other news, insider Dean A. Scarborough sold 20,000 shares of the business’s stock in a transaction on Monday, October 30th. The shares were sold at an average price of $105.00, for a total transaction of $2,100,000.00. Following the transaction, the insider now directly owns 94,042 shares in the company, valued at approximately $9,874,410. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Dean A. Scarborough sold 10,000 shares of the business’s stock in a transaction on Friday, October 27th. The shares were sold at an average price of $104.54, for a total transaction of $1,045,400.00. Following the transaction, the chairman now owns 94,042 shares in the company, valued at $9,831,150.68. The disclosure for this sale can be found here. Over the last three months, insiders have sold 154,604 shares of company stock worth $16,475,271. Company insiders own 1.40% of the company’s stock.

Several research analysts have issued reports on AVY shares. Zacks Investment Research raised Avery Dennison from a “sell” rating to a “buy” rating and set a $117.00 price target on the stock in a report on Friday, October 27th. Robert W. Baird reaffirmed a “buy” rating and issued a $115.00 price target on shares of Avery Dennison in a report on Friday, October 27th. KeyCorp reaffirmed a “hold” rating on shares of Avery Dennison in a report on Monday, October 30th. Loop Capital started coverage on Avery Dennison in a report on Thursday, September 28th. They issued a “hold” rating and a $99.00 price target on the stock. Finally, J P Morgan Chase & Co cut Avery Dennison from an “overweight” rating to a “neutral” rating in a report on Thursday, October 26th. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Avery Dennison currently has a consensus rating of “Buy” and an average target price of $110.83.

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About Avery Dennison

Avery Dennison Corporation (Avery Dennison) is engaged in the production of pressure-sensitive materials and a range of tickets, tags, labels and other converted products. The Company’s segments include Label and Graphic Materials (LGM); Retail Branding and Information Solutions (RBIS), and Industrial and Healthcare Materials (IHM).

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

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