Edgestream Partners L.P. Purchases 3,272 Shares of Avery Dennison Co. (NYSE:AVY)

Edgestream Partners L.P. grew its holdings in shares of Avery Dennison Co. (NYSE:AVY - Free Report) by 63.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,424 shares of the industrial products company's stock after buying an additional 3,272 shares during the period. Edgestream Partners L.P.'s holdings in Avery Dennison were worth $1,860,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Victory Capital Management Inc. boosted its holdings in shares of Avery Dennison by 6.8% during the 3rd quarter. Victory Capital Management Inc. now owns 1,416,798 shares of the industrial products company's stock valued at $312,772,000 after buying an additional 90,250 shares in the last quarter. Meridiem Investment Management Ltd. boosted its stake in Avery Dennison by 0.7% in the 3rd quarter. Meridiem Investment Management Ltd. now owns 794,092 shares of the industrial products company's stock worth $175,261,000 after purchasing an additional 5,756 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Avery Dennison by 4.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 787,716 shares of the industrial products company's stock worth $172,254,000 after purchasing an additional 32,467 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Avery Dennison by 0.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 699,541 shares of the industrial products company's stock worth $154,431,000 after purchasing an additional 3,118 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in 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 worth $151,975,000 after purchasing an additional 1,782 shares in the last quarter. Institutional investors own 94.17% of the company's stock.

Avery Dennison Stock Performance

Shares of NYSE AVY traded up $0.04 during midday trading on Wednesday, hitting $204.35. 409,007 shares of the company's stock traded hands, compared to its average volume of 473,239. Avery Dennison Co. has a 1 year low of $190.04 and a 1 year high of $233.48. The stock has a market capitalization of $16.42 billion, a price-to-earnings ratio of 24.53, a price-to-earnings-growth ratio of 1.58 and a beta of 0.87. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.62 and a current ratio of 0.92. The firm has a fifty day moving average of $209.34 and a 200 day moving average of $215.70.

Avery Dennison (NYSE:AVY - Get Free Report) last announced 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 the consensus estimate of $2.20 billion. Avery Dennison had a return on equity of 33.01% and a net margin of 7.76%. The firm's revenue was up 4.1% on a year-over-year basis. During the same period in the previous year, the company posted $2.10 EPS. On average, analysts forecast that Avery Dennison Co. will post 9.42 earnings per share for the current year.

Avery Dennison Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be paid a dividend of $0.88 per share. The ex-dividend date 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 (DPR) is presently 42.26%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. BMO Capital Markets dropped 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. JPMorgan Chase & Co. cut shares of Avery Dennison from an "overweight" rating to a "neutral" rating and dropped their price target for the stock from $230.00 to $210.00 in a research note on Thursday, October 24th. Citigroup decreased their target price on Avery Dennison from $241.00 to $240.00 and set a "neutral" rating for the company in a research report on Wednesday, October 2nd. Bank of America raised Avery Dennison from an "underperform" rating to a "buy" rating and boosted their target price for the stock from $207.00 to $250.00 in a research report on Thursday, October 17th. Finally, StockNews.com lowered Avery Dennison from a "buy" rating to a "hold" rating 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 presently has an average rating of "Moderate Buy" and a consensus target price of $244.96.

Insider Activity at Avery Dennison

In other Avery Dennison news, SVP Nicholas Colisto sold 3,679 shares of the company'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 $1,467,956. This represents a 34.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.10% of the stock is currently owned by corporate insiders.

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.