Bank of Montreal Can Buys 4,729 Shares of Avery Dennison Co. (NYSE:AVY)

Bank of Montreal Can boosted its stake in Avery Dennison Co. (NYSE:AVY - Free Report) by 1.9% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 254,942 shares of the industrial products company's stock after buying an additional 4,729 shares during the period. Bank of Montreal Can owned 0.32% of Avery Dennison worth $56,684,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Innealta Capital LLC bought a new position in shares of Avery Dennison during the 2nd quarter valued at about $28,000. Larson Financial Group LLC boosted its position 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 valued at $31,000 after purchasing an additional 71 shares in the last quarter. Kennebec Savings Bank acquired a new position in shares of Avery Dennison in the third quarter worth about $36,000. Peterson Financial Group Inc. purchased a new stake in shares of Avery Dennison in the third quarter worth approximately $39,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of Avery Dennison in the second quarter worth approximately $42,000. Institutional investors own 94.17% of the company's stock.

Insiders Place Their Bets

In related news, SVP Nicholas Colisto sold 3,679 shares of the business's stock in a transaction that occurred on Monday, November 25th. The stock was 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 approximately $1,467,956. The trade was a 34.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.10% of the company's stock.

Avery Dennison Stock Performance

Shares of Avery Dennison stock traded up $0.53 during midday trading on Thursday, hitting $205.15. The company had a trading volume of 460,027 shares, compared to its average volume of 472,703. The business's 50 day simple moving average is $210.12 and its two-hundred day simple moving average is $216.33. The stock has a market cap of $16.48 billion, a PE ratio of 24.63, a P/E/G ratio of 1.60 and a beta of 0.89. 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 $188.92 and a 1-year high of $233.48.

Avery Dennison (NYSE:AVY - Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 return on equity of 33.01% and a net margin of 7.76%. The business's revenue was up 4.1% on a year-over-year basis. During the same period last year, the business earned $2.10 earnings per share. As a group, equities analysts predict that Avery Dennison Co. will post 9.42 EPS for the current fiscal year.

Avery Dennison Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors 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 dividend on an annualized basis and a dividend yield of 1.72%. Avery Dennison's dividend payout ratio is 42.26%.

Analyst Ratings Changes

AVY has been the subject of a number of research analyst reports. Barclays reduced 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 report on Monday, October 28th. Citigroup reduced 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. StockNews.com lowered shares of Avery Dennison from a "buy" rating to a "hold" rating in a research report on Thursday, October 24th. Bank of America raised shares of Avery Dennison from an "underperform" rating to a "buy" rating and raised their price objective for the company from $207.00 to $250.00 in a research report on Thursday, October 17th. Finally, 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. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Avery Dennison currently has a consensus rating of "Moderate Buy" and a consensus target price of $244.96.

Avery Dennison Company 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.