Fiduciary Trust Co Has $711,000 Holdings in Avery Dennison Co. (NYSE:AVY)

Fiduciary Trust Co increased its holdings in Avery Dennison Co. (NYSE:AVY) by 26.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,219 shares of the industrial products company’s stock after buying an additional 671 shares during the period. Fiduciary Trust Co’s holdings in Avery Dennison were worth $711,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Intech Investment Management LLC raised its position in Avery Dennison by 3.3% during the second quarter. Intech Investment Management LLC now owns 1,559 shares of the industrial products company’s stock valued at $341,000 after purchasing an additional 50 shares in the last quarter. Empirical Finance LLC raised its holdings in shares of Avery Dennison by 2.0% during the 3rd quarter. Empirical Finance LLC now owns 2,822 shares of the industrial products company’s stock worth $623,000 after buying an additional 55 shares in the last quarter. Procyon Advisors LLC boosted its stake in Avery Dennison by 4.0% in the third quarter. Procyon Advisors LLC now owns 1,442 shares of the industrial products company’s stock valued at $319,000 after buying an additional 56 shares in the last quarter. Lindenwold Advisors INC grew its position in Avery Dennison by 0.6% in the third quarter. Lindenwold Advisors INC now owns 10,266 shares of the industrial products company’s stock valued at $2,266,000 after acquiring an additional 59 shares during the last quarter. Finally, Cynosure Group LLC raised its stake in Avery Dennison by 3.6% during the third quarter. Cynosure Group LLC now owns 1,712 shares of the industrial products company’s stock worth $378,000 after acquiring an additional 59 shares in the last quarter. 94.17% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, SVP Nicholas Colisto sold 3,679 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $206.00, for a total transaction of $757,874.00. Following the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.10% of the stock is owned by insiders.

Avery Dennison Stock Performance

Shares of AVY opened at $205.95 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.62 and a debt-to-equity ratio of 0.85. The firm’s fifty day simple moving average is $209.80 and its two-hundred day simple moving average is $216.05. Avery Dennison Co. has a 12 month low of $190.04 and a 12 month high of $233.48. The stock has a market capitalization of $16.55 billion, a P/E ratio of 24.72, a price-to-earnings-growth ratio of 1.58 and a beta of 0.89.

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

Avery Dennison Announces Dividend

The business also recently announced 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 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 payout ratio is presently 42.26%.

Wall Street Analyst Weigh In

AVY has been the topic of several research reports. Bank of America raised shares of Avery Dennison from an “underperform” rating to a “buy” rating and lifted their price target for the company from $207.00 to $250.00 in a report on Thursday, October 17th. StockNews.com downgraded shares of Avery Dennison from a “buy” rating to a “hold” rating in a report on Thursday, October 24th. BMO Capital Markets reduced their price objective 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. Citigroup dropped their target price on Avery Dennison from $241.00 to $240.00 and set a “neutral” rating for the company in a research report on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. cut Avery Dennison from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $230.00 to $210.00 in a report on Thursday, October 24th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $244.96.

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.