Anchor Investment Management LLC Buys 551 Shares of Avery Dennison Co. (NYSE:AVY)

Anchor Investment Management LLC grew its position in shares of Avery Dennison Co. (NYSE:AVY) by 256.3% in the third quarter, HoldingsChannel reports. The fund owned 766 shares of the industrial products company’s stock after acquiring an additional 551 shares during the period. Anchor Investment Management LLC’s holdings in Avery Dennison were worth $169,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in AVY. Innealta Capital LLC bought a new position in Avery Dennison in the second quarter valued at approximately $28,000. Larson Financial Group LLC lifted its stake in shares of Avery Dennison by 100.0% during the 3rd quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company’s stock worth $31,000 after buying an additional 71 shares during the last quarter. Kennebec Savings Bank bought a new stake in shares of Avery Dennison during the third quarter worth approximately $36,000. Peterson Financial Group Inc. bought a new position in shares of Avery Dennison during the third quarter worth approximately $39,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in Avery Dennison during the 2nd quarter worth approximately $42,000. Institutional investors and hedge funds own 94.17% of the company’s stock.

Avery Dennison Stock Performance

Shares of Avery Dennison stock opened at $195.02 on Friday. The business has a 50-day simple moving average of $206.90 and a 200 day simple moving average of $214.60. The firm has a market capitalization of $15.67 billion, a price-to-earnings ratio of 23.41, a PEG ratio of 1.52 and a beta of 0.87. 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 one year low of $193.49 and a one year high of $233.48.

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

Avery Dennison Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be issued a $0.88 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $3.52 annualized dividend and a dividend yield of 1.80%. Avery Dennison’s dividend payout ratio is currently 42.26%.

Wall Street Analyst Weigh In

Several research firms recently commented on AVY. BMO Capital Markets decreased their price target on shares of Avery Dennison from $252.00 to $247.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. StockNews.com lowered shares of Avery Dennison from a “buy” rating to a “hold” rating in a report on Thursday, October 24th. Bank of America raised Avery Dennison from an “underperform” rating to a “buy” rating and upped their target price for the stock from $207.00 to $250.00 in a report on Thursday, October 17th. Barclays dropped their price target 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. Finally, JPMorgan Chase & Co. lowered Avery Dennison from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $230.00 to $210.00 in a research note on Thursday, October 24th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $244.96.

Insider Transactions at Avery Dennison

In related news, SVP Nicholas Colisto sold 3,679 shares of the 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 completion of 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.10% of the company’s stock.

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.