Avery Dennison Co. (NYSE:AVY) Shares Sold by Legacy Wealth Management LLC MS

Legacy Wealth Management LLC MS decreased its position in shares of Avery Dennison Co. (NYSE:AVY) by 2.3% during the third quarter, Holdings Channel.com reports. The firm owned 2,400 shares of the industrial products company’s stock after selling 56 shares during the period. Legacy Wealth Management LLC MS’s holdings in Avery Dennison were worth $530,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Swedbank AB lifted its holdings in Avery Dennison by 1.0% in the 2nd quarter. Swedbank AB now owns 462,083 shares of the industrial products company’s stock valued at $101,034,000 after purchasing an additional 4,673 shares in the last quarter. Blue Trust Inc. increased its stake in shares of Avery Dennison by 52.4% in the 2nd quarter. Blue Trust Inc. now owns 2,976 shares of the industrial products company’s stock worth $664,000 after acquiring an additional 1,023 shares during the last quarter. Gradient Investments LLC increased its stake in shares of Avery Dennison by 7.5% in the 2nd quarter. Gradient Investments LLC now owns 59,816 shares of the industrial products company’s stock worth $13,079,000 after acquiring an additional 4,196 shares during the last quarter. Sumitomo Life Insurance Co. increased its stake in shares of Avery Dennison by 3.7% in the 2nd quarter. Sumitomo Life Insurance Co. now owns 12,117 shares of the industrial products company’s stock worth $2,649,000 after acquiring an additional 432 shares during the last quarter. Finally, Boston Trust Walden Corp increased its stake in shares of Avery Dennison by 1.6% in the 2nd quarter. Boston Trust Walden Corp now owns 272,263 shares of the industrial products company’s stock worth $59,530,000 after acquiring an additional 4,259 shares during the last quarter. Hedge funds and other institutional investors own 94.17% of the company’s stock.

Avery Dennison Stock Down 0.5 %

Shares of NYSE AVY traded down $1.07 during midday trading on Friday, hitting $196.60. The company’s stock had a trading volume of 36,525 shares, compared to its average volume of 472,541. The business’s fifty day simple moving average is $206.90 and its two-hundred day simple moving average is $214.60. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.92 and a quick ratio of 0.62. Avery Dennison Co. has a 1 year low of $193.49 and a 1 year high of $233.48. The firm has a market capitalization of $15.80 billion, a price-to-earnings ratio of 23.73, a price-to-earnings-growth ratio of 1.52 and a beta of 0.87.

Avery Dennison (NYSE:AVY) last posted its quarterly earnings data 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. Avery Dennison had a net margin of 7.76% and a return on equity of 33.01%. The business had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.20 billion. During the same quarter last year, the firm posted $2.10 earnings per share. The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. On average, equities analysts predict that Avery Dennison Co. will post 9.42 EPS for the current year.

Avery Dennison Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be paid a $0.88 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $3.52 dividend on an annualized basis and a yield of 1.79%. Avery Dennison’s dividend payout ratio is currently 42.26%.

Insider Buying and Selling

In other Avery Dennison news, SVP Nicholas Colisto sold 3,679 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $206.00, for a total transaction of $757,874.00. Following the sale, the senior vice president now owns 7,126 shares of the company’s stock, valued at approximately $1,467,956. This trade represents a 34.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.10% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have issued reports on the company. StockNews.com downgraded Avery Dennison from a “buy” rating to a “hold” rating in a research note on Thursday, October 24th. BMO Capital Markets reduced their price objective on shares of Avery Dennison from $252.00 to $247.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Barclays lowered their target price on shares of Avery Dennison from $250.00 to $245.00 and set an “overweight” rating for the company in a research note on Monday, October 28th. Bank of America upgraded shares of Avery Dennison from an “underperform” rating to a “buy” rating and upped their price objective for the stock from $207.00 to $250.00 in a report on Thursday, October 17th. Finally, Citigroup dropped their target price on shares of Avery Dennison from $241.00 to $240.00 and set a “neutral” rating for the company in a report on Wednesday, October 2nd. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.