Wilmington Savings Fund Society FSB Boosts Stock Holdings in Avery Dennison Co. (NYSE:AVY)

Wilmington Savings Fund Society FSB lifted its holdings in Avery Dennison Co. (NYSE:AVY) by 384.6% in the 3rd quarter, Holdings Channel.com reports. The firm owned 6,203 shares of the industrial products company’s stock after acquiring an additional 4,923 shares during the quarter. Wilmington Savings Fund Society FSB’s holdings in Avery Dennison were worth $1,369,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Innealta Capital LLC purchased a new stake in Avery Dennison during the second quarter worth $28,000. Larson Financial Group LLC boosted its position in Avery Dennison by 100.0% during the third quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 71 shares in the last quarter. Kennebec Savings Bank purchased a new position in Avery Dennison in the third quarter valued at about $36,000. Peterson Financial Group Inc. bought a new position in Avery Dennison in the third quarter worth about $39,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of Avery Dennison during the second quarter valued at about $42,000. 94.17% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

AVY has been the subject of several recent analyst reports. BMO Capital Markets reduced their price objective on shares of Avery Dennison from $252.00 to $247.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. StockNews.com downgraded Avery Dennison from a “buy” rating to a “hold” rating in a research report on Thursday, October 24th. Barclays decreased their price objective on Avery Dennison from $250.00 to $245.00 and set an “overweight” rating for the company in a report on Monday, October 28th. Citigroup dropped their target price on Avery Dennison from $241.00 to $240.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 2nd. Finally, Bank of America upgraded Avery Dennison from an “underperform” rating to a “buy” rating and increased their price target for the company from $207.00 to $250.00 in a research note on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Avery Dennison currently has an average rating of “Moderate Buy” and an average target price of $244.96.

Insiders Place Their Bets

In related news, SVP Nicholas Colisto sold 3,679 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $206.00, for a total value of $757,874.00. Following the completion of the transaction, the senior vice president now directly owns 7,126 shares in the company, valued at $1,467,956. The trade was a 34.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 1.10% of the company’s stock.

Avery Dennison Trading Down 1.3 %

Avery Dennison stock opened at $195.14 on Friday. Avery Dennison Co. has a 52 week low of $193.49 and a 52 week high of $233.48. The stock has a 50-day moving average price of $206.51 and a 200 day moving average price of $214.37. The company has a quick ratio of 0.62, a current ratio of 0.92 and a debt-to-equity ratio of 0.85. The company has a market capitalization of $15.68 billion, a price-to-earnings ratio of 23.43, a price-to-earnings-growth ratio of 1.52 and a beta of 0.87.

Avery Dennison (NYSE:AVY) last released 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 for the quarter, compared to the consensus estimate of $2.20 billion. During the same period in the prior year, the firm earned $2.10 EPS. The business’s revenue for the quarter was up 4.1% on a year-over-year basis. Sell-side analysts anticipate that Avery Dennison Co. will post 9.42 EPS for the current year.

Avery Dennison Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be given a $0.88 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $3.52 annualized dividend and a yield of 1.80%. Avery Dennison’s dividend payout ratio is presently 42.26%.

Avery Dennison Profile

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.