Cerity Partners LLC Has $23.16 Million Position in Avery Dennison Co. (NYSE:AVY)

Cerity Partners LLC raised its holdings in Avery Dennison Co. (NYSE:AVY - Free Report) by 46.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 104,891 shares of the industrial products company's stock after purchasing an additional 33,210 shares during the quarter. Cerity Partners LLC owned approximately 0.13% of Avery Dennison worth $23,156,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Nicolet Advisory Services LLC lifted its position in shares of Avery Dennison by 3.2% during the third quarter. Nicolet Advisory Services LLC now owns 2,341 shares of the industrial products company's stock worth $498,000 after purchasing an additional 72 shares in the last quarter. Icon Wealth Advisors LLC lifted its holdings in Avery Dennison by 553.5% during the 3rd quarter. Icon Wealth Advisors LLC now owns 3,137 shares of the industrial products company's stock worth $693,000 after buying an additional 2,657 shares in the last quarter. Citigroup Inc. boosted its position in Avery Dennison by 30.0% in the 3rd quarter. Citigroup Inc. now owns 83,512 shares of the industrial products company's stock valued at $18,436,000 after buying an additional 19,248 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Avery Dennison by 0.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 688,417 shares of the industrial products company's stock valued at $151,975,000 after buying an additional 1,782 shares during the period. Finally, Pacer Advisors Inc. raised its position in shares of Avery Dennison by 61.7% during the third quarter. Pacer Advisors Inc. now owns 28,523 shares of the industrial products company's stock worth $6,297,000 after acquiring an additional 10,882 shares during the last quarter. Institutional investors and hedge funds own 94.17% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on AVY shares. Bank of America upgraded Avery Dennison from an "underperform" rating to a "buy" rating and raised their price target for the company from $207.00 to $250.00 in a report on Thursday, October 17th. Citigroup lowered their price target on shares of Avery Dennison from $241.00 to $240.00 and set a "neutral" rating for the company in a research report on Wednesday, October 2nd. Barclays cut their price objective on shares of Avery Dennison from $250.00 to $245.00 and set an "overweight" rating on the stock in a report on Monday, October 28th. BMO Capital Markets lowered their target price on shares of Avery Dennison from $252.00 to $247.00 and set an "outperform" rating for the company in a report on Thursday, October 24th. Finally, JPMorgan Chase & Co. downgraded 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. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $244.96.

Avery Dennison Stock Up 2.6 %

Shares of NYSE:AVY traded up $5.31 during trading on Monday, hitting $207.90. 1,072,266 shares of the company's stock traded hands, compared to its average volume of 472,073. The company has a 50-day moving average price of $210.78 and a 200-day moving average price of $216.69. Avery Dennison Co. has a 52 week low of $187.93 and a 52 week high of $233.48. 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 company has a market cap of $16.70 billion, a price-to-earnings ratio of 24.96, a price-to-earnings-growth ratio of 1.56 and a beta of 0.89.

Avery Dennison (NYSE:AVY - Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share for the quarter, beating the consensus estimate of $2.32 by $0.01. The company had revenue of $2.18 billion during the quarter, compared to analysts' expectations of $2.20 billion. Avery Dennison had a net margin of 7.76% and a return on equity of 33.01%. The business's quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.10 earnings per share. As a group, research analysts forecast that Avery Dennison Co. will post 9.42 EPS for the current fiscal year.

Avery Dennison Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders 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 annualized dividend and a dividend yield of 1.69%. Avery Dennison's dividend payout ratio is currently 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.