Franklin Resources Inc. Has $65.13 Million Position in Avery Dennison Co. (NYSE:AVY)

Franklin Resources Inc. grew its holdings in Avery Dennison Co. (NYSE:AVY - Free Report) by 5.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 295,361 shares of the industrial products company's stock after acquiring an additional 15,159 shares during the quarter. Franklin Resources Inc. owned 0.37% of Avery Dennison worth $65,133,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Innealta Capital LLC acquired a new stake in shares of Avery Dennison during the 2nd quarter worth approximately $28,000. Larson Financial Group LLC boosted its stake 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 worth $31,000 after buying an additional 71 shares in the last quarter. Kennebec Savings Bank bought a new stake in Avery Dennison in the 3rd quarter valued at $36,000. Peterson Financial Group Inc. acquired a new position in shares of Avery Dennison in the 3rd quarter valued at $39,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of Avery Dennison during the 2nd quarter valued at about $42,000. Institutional investors and hedge funds own 94.17% of the company's stock.

Analyst Upgrades and Downgrades

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

Avery Dennison Trading Down 0.8 %

Shares of AVY traded down $1.60 during trading hours on Tuesday, hitting $191.46. 622,495 shares of the stock traded hands, compared to its average volume of 474,866. The business has a fifty day moving average of $206.09 and a 200-day moving average of $214.03. The firm has a market capitalization of $15.38 billion, a PE ratio of 23.16, a price-to-earnings-growth ratio of 1.52 and a beta of 0.87. Avery Dennison Co. has a 1-year low of $190.00 and a 1-year 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.

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 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 analyst estimates of $2.20 billion. During the same period in the prior year, the business posted $2.10 earnings per share. Avery Dennison's revenue was up 4.1% compared to the same quarter last year. Analysts expect that Avery Dennison Co. will post 9.42 EPS for the current year.

Avery Dennison Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors 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 dividend on an annualized basis and a dividend yield of 1.84%. Avery Dennison's dividend payout ratio is 42.26%.

Insider Activity at Avery Dennison

In other Avery Dennison news, SVP Nicholas Colisto sold 3,679 shares of Avery Dennison stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $206.00, for a total value of $757,874.00. Following the sale, the senior vice president now owns 7,126 shares of the company's stock, valued at $1,467,956. This trade 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. Corporate insiders own 1.10% of the company's stock.

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.