Bowen Hanes & Co. Inc. trimmed its stake in Avery Dennison Corp (NYSE:AVY) by 6.7% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 320,461 shares of the industrial products company’s stock after selling 22,980 shares during the quarter. Avery Dennison makes up about 1.5% of Bowen Hanes & Co. Inc.’s investment portfolio, making the stock its 28th largest holding. Bowen Hanes & Co. Inc. owned about 0.37% of Avery Dennison worth $34,722,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of AVY. IFM Investors Pty Ltd increased its position in shares of Avery Dennison by 28.0% during the second quarter. IFM Investors Pty Ltd now owns 4,538 shares of the industrial products company’s stock valued at $463,000 after acquiring an additional 992 shares in the last quarter. State of Alaska Department of Revenue increased its position in shares of Avery Dennison by 18.6% during the second quarter. State of Alaska Department of Revenue now owns 16,990 shares of the industrial products company’s stock valued at $1,734,000 after acquiring an additional 2,660 shares in the last quarter. Calamos Advisors LLC increased its position in shares of Avery Dennison by 11.2% during the second quarter. Calamos Advisors LLC now owns 40,597 shares of the industrial products company’s stock valued at $4,145,000 after acquiring an additional 4,088 shares in the last quarter. Amalgamated Bank increased its position in shares of Avery Dennison by 8.6% during the second quarter. Amalgamated Bank now owns 21,878 shares of the industrial products company’s stock valued at $2,234,000 after acquiring an additional 1,741 shares in the last quarter. Finally, Sit Investment Associates Inc. increased its position in shares of Avery Dennison by 1,167.6% during the second quarter. Sit Investment Associates Inc. now owns 109,960 shares of the industrial products company’s stock valued at $11,227,000 after acquiring an additional 101,285 shares in the last quarter. Institutional investors own 84.06% of the company’s stock.

NYSE:AVY opened at $91.94 on Wednesday. The company has a quick ratio of 0.71, a current ratio of 1.00 and a debt-to-equity ratio of 1.24. Avery Dennison Corp has a 12 month low of $86.06 and a 12 month high of $123.67. The company has a market capitalization of $7.93 billion, a price-to-earnings ratio of 15.55, a P/E/G ratio of 2.16 and a beta of 1.37.

Avery Dennison (NYSE:AVY) last posted its earnings results on Tuesday, October 23rd. The industrial products company reported $1.45 EPS 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 company had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.75 billion. During the same period last year, the firm posted $1.26 EPS. The company’s revenue for the quarter was up 4.8% on a year-over-year basis. On average, sell-side analysts forecast that Avery Dennison Corp will post 6.04 earnings per share for the current year.

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

In other Avery Dennison news, Director Anthony Anderson sold 1,275 shares of Avery Dennison stock in a transaction that occurred on Friday, September 7th. The shares were sold at an average price of $104.75, for a total value of $133,556.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.30% of the company’s stock.

Several brokerages recently weighed in on AVY. Loop Capital raised their price target on shares of Avery Dennison to $115.00 and gave the company a “hold” rating in a research report on Wednesday, July 25th. Zacks Investment Research raised shares of Avery Dennison from a “sell” rating to a “hold” rating in a research report on Monday. Citigroup raised their price target on shares of Avery Dennison from $126.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday, July 25th. KeyCorp reaffirmed a “hold” rating on shares of Avery Dennison in a research report on Tuesday, October 23rd. Finally, Barclays lifted their target price on shares of Avery Dennison from $130.00 to $135.00 and gave the stock an “overweight” rating in a research report on Monday, July 30th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target 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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