Point72 DIFC Ltd Purchases 7,184 Shares of Avery Dennison Co. (NYSE:AVY)

Point72 DIFC Ltd raised its stake in Avery Dennison Co. (NYSE:AVY - Free Report) by 148.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 12,030 shares of the industrial products company's stock after buying an additional 7,184 shares during the quarter. Point72 DIFC Ltd's holdings in Avery Dennison were worth $2,656,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the stock. Point72 Asset Management L.P. lifted its stake in Avery Dennison by 80.7% in the third quarter. Point72 Asset Management L.P. now owns 62,167 shares of the industrial products company's stock valued at $13,724,000 after buying an additional 27,765 shares in the last quarter. Janus Henderson Group PLC lifted its stake in Avery Dennison by 3.4% in the third quarter. Janus Henderson Group PLC now owns 9,133 shares of the industrial products company's stock valued at $2,016,000 after buying an additional 300 shares in the last quarter. Hilltop Holdings Inc. bought a new stake in shares of Avery Dennison in the third quarter worth $390,000. Holocene Advisors LP bought a new stake in shares of Avery Dennison in the third quarter worth $8,372,000. Finally, Centiva Capital LP lifted its position in shares of Avery Dennison by 73.0% in the third quarter. Centiva Capital LP now owns 4,302 shares of the industrial products company's stock worth $950,000 after purchasing an additional 1,816 shares in the last quarter. Institutional investors own 94.17% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. BMO Capital Markets cut their price objective on shares of Avery Dennison from $252.00 to $247.00 and set an "outperform" rating on the stock in a research report on Thursday, October 24th. JPMorgan Chase & Co. lowered shares of 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 report on Thursday, October 24th. StockNews.com lowered shares of Avery Dennison from a "buy" rating to a "hold" rating in a research report on Thursday, October 24th. 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 research report on Monday, October 28th. Finally, Citigroup lowered their target price on shares of Avery Dennison from $241.00 to $240.00 and set a "neutral" rating on the stock in a report on Wednesday, October 2nd. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, Avery Dennison has a consensus rating of "Moderate Buy" and an average price target of $244.96.

Insider Activity

In other news, SVP Nicholas Colisto sold 3,679 shares of the business's stock in a transaction dated 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 sale, the senior vice president now owns 7,126 shares of the company's stock, valued at approximately $1,467,956. The trade was a 34.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.10% of the stock is currently owned by company insiders.

Avery Dennison Stock Performance

Shares of NYSE:AVY traded down $1.07 on Thursday, hitting $203.29. The company had a trading volume of 491,026 shares, compared to its average volume of 473,315. Avery Dennison Co. has a 1-year low of $190.04 and a 1-year high of $233.48. The stock has a market cap of $16.33 billion, a price-to-earnings ratio of 24.40, a P/E/G ratio of 1.58 and a beta of 0.87. The stock has a 50 day moving average price of $208.68 and a 200 day moving average price of $215.54. The company has a current ratio of 0.92, a quick ratio of 0.62 and a debt-to-equity ratio of 0.85.

Avery Dennison (NYSE:AVY - Get Free Report) 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 firm had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.20 billion. During the same period in the previous year, the company earned $2.10 earnings per share. The company's quarterly revenue was up 4.1% on a year-over-year basis. Analysts expect that Avery Dennison Co. will post 9.42 EPS for the current year.

Avery Dennison Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be given 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 dividend yield of 1.73%. Avery Dennison's 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.