Northwest & Ethical Investments L.P. Has $904,000 Holdings in Avery Dennison Co. (NYSE:AVY)

Northwest & Ethical Investments L.P. decreased its stake in Avery Dennison Co. (NYSE:AVY) by 17.3% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 4,093 shares of the industrial products company’s stock after selling 858 shares during the period. Northwest & Ethical Investments L.P.’s holdings in Avery Dennison were worth $904,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Financial Counselors Inc. increased its stake in shares of Avery Dennison by 3.9% in the 3rd quarter. Financial Counselors Inc. now owns 51,393 shares of the industrial products company’s stock valued at $11,346,000 after acquiring an additional 1,919 shares during the last quarter. Fiduciary Trust Co increased its stake in Avery Dennison by 26.3% in the third quarter. Fiduciary Trust Co now owns 3,219 shares of the industrial products company’s stock valued at $711,000 after purchasing an additional 671 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Avery Dennison by 34.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,128 shares of the industrial products company’s stock worth $5,326,000 after purchasing an additional 6,150 shares in the last quarter. Blueshift Asset Management LLC acquired a new position in shares of Avery Dennison in the 3rd quarter valued at $207,000. Finally, Glenmede Trust Co. NA raised its stake in Avery Dennison by 3.6% during the 3rd quarter. Glenmede Trust Co. NA now owns 8,523 shares of the industrial products company’s stock worth $1,882,000 after buying an additional 297 shares during the period. Institutional investors own 94.17% of the company’s stock.

Insider Activity

In related news, SVP Nicholas Colisto sold 3,679 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $206.00, for a total value of $757,874.00. Following the sale, the senior vice president now owns 7,126 shares in the company, valued at approximately $1,467,956. This represents a 34.05 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

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

Avery Dennison Trading Up 0.4 %

Avery Dennison stock opened at $205.89 on Friday. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.92 and a quick ratio of 0.62. The firm has a 50-day moving average of $209.80 and a 200-day moving average of $216.12. The company has a market cap of $16.54 billion, a price-to-earnings ratio of 24.72, a P/E/G ratio of 1.58 and a beta of 0.89. Avery Dennison Co. has a one year low of $190.04 and a one year high of $233.48.

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

Avery Dennison Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be paid a $0.88 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $3.52 annualized dividend and a yield of 1.71%. Avery Dennison’s dividend payout ratio is 42.26%.

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.