Holocene Advisors LP Purchases New Position in Avery Dennison Co. (NYSE:AVY)

Holocene Advisors LP purchased a new stake in shares of Avery Dennison Co. (NYSE:AVY - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 37,922 shares of the industrial products company's stock, valued at approximately $8,372,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AVY. B. Riley Wealth Advisors Inc. increased its stake in Avery Dennison by 24.7% during the first quarter. B. Riley Wealth Advisors Inc. now owns 1,420 shares of the industrial products company's stock valued at $317,000 after acquiring an additional 281 shares during the period. Tidal Investments LLC grew its stake in shares of Avery Dennison by 14.3% in the 1st quarter. Tidal Investments LLC now owns 2,986 shares of the industrial products company's stock valued at $667,000 after purchasing an additional 374 shares during the period. Cetera Investment Advisers grew its stake in shares of Avery Dennison by 195.2% in the 1st quarter. Cetera Investment Advisers now owns 17,863 shares of the industrial products company's stock valued at $3,988,000 after purchasing an additional 11,811 shares during the period. Cetera Advisors LLC boosted its holdings in shares of Avery Dennison by 204.2% in the 1st quarter. Cetera Advisors LLC now owns 4,225 shares of the industrial products company's stock worth $943,000 after acquiring an additional 2,836 shares in the last quarter. Finally, Mather Group LLC. boosted its holdings in shares of Avery Dennison by 18.1% in the 2nd quarter. Mather Group LLC. now owns 2,416 shares of the industrial products company's stock worth $539,000 after acquiring an additional 370 shares in the last quarter. 94.17% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

AVY has been the topic of several recent analyst reports. JPMorgan Chase & Co. downgraded Avery Dennison from an "overweight" rating to a "neutral" rating and reduced their target price for the stock from $230.00 to $210.00 in a report on Thursday, October 24th. Bank of America raised Avery Dennison from an "underperform" rating to a "buy" rating and upped their price objective for the stock from $207.00 to $250.00 in a report on Thursday, October 17th. StockNews.com downgraded Avery Dennison from a "buy" rating to a "hold" rating in a report on Thursday, October 24th. BMO Capital Markets reduced their price objective on Avery Dennison from $252.00 to $247.00 and set an "outperform" rating on the stock in a report on Thursday, October 24th. Finally, Citigroup dropped their target price 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. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Avery Dennison has an average rating of "Moderate Buy" and an average target price of $244.96.

Avery Dennison Trading Up 0.0 %

Shares of NYSE:AVY traded up $0.04 during mid-day trading on Wednesday, reaching $204.35. 409,007 shares of the company's stock were exchanged, compared to its average volume of 473,239. The firm has a market capitalization of $16.42 billion, a price-to-earnings ratio of 24.53, a PEG ratio of 1.58 and a beta of 0.87. The business's fifty day moving average price is $209.05 and its 200-day moving average price is $215.62. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.62 and a current ratio of 0.92. Avery Dennison Co. has a twelve month low of $190.04 and a twelve month high of $233.48.

Avery Dennison (NYSE:AVY - Get Free Report) last posted 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 firm had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.20 billion. Avery Dennison had a net margin of 7.76% and a return on equity of 33.01%. The business's revenue was up 4.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.10 earnings per share. On average, research analysts predict 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. Shareholders of record on Wednesday, December 4th will be given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date is Wednesday, December 4th. Avery Dennison's payout ratio is 42.26%.

Insiders Place Their Bets

In other Avery Dennison 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 transaction, the senior vice president now directly owns 7,126 shares in the company, valued at $1,467,956. The trade was a 34.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.10% of the stock is currently owned by 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.