Avery Dennison Co. (NYSE:AVY) Shares Sold by ING Groep NV

ING Groep NV decreased its holdings in shares of Avery Dennison Co. (NYSE:AVY - Free Report) by 16.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,869 shares of the industrial products company's stock after selling 5,770 shares during the quarter. ING Groep NV's holdings in Avery Dennison were worth $6,594,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Victory Capital Management Inc. boosted its position in shares of Avery Dennison by 6.8% in the third quarter. Victory Capital Management Inc. now owns 1,416,798 shares of the industrial products company's stock worth $312,772,000 after buying an additional 90,250 shares during the period. Boston Partners grew its position in Avery Dennison by 3.6% in the first quarter. Boston Partners now owns 1,019,802 shares of the industrial products company's stock valued at $227,660,000 after acquiring an additional 35,538 shares in the last quarter. Meridiem Investment Management Ltd. raised its stake in shares of Avery Dennison by 0.7% during the third quarter. Meridiem Investment Management Ltd. now owns 794,092 shares of the industrial products company's stock valued at $175,261,000 after purchasing an additional 5,756 shares during the period. Dimensional Fund Advisors LP lifted its holdings 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 buying an additional 32,467 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of Avery Dennison by 2.7% in the second quarter. Bank of New York Mellon Corp now owns 646,223 shares of the industrial products company's stock worth $141,297,000 after acquiring an additional 17,158 shares in the last quarter. 94.17% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on AVY shares. BMO Capital Markets dropped their price target on shares of Avery Dennison from $252.00 to $247.00 and set an "outperform" rating for the company in a research note on Thursday, October 24th. JPMorgan Chase & Co. downgraded Avery Dennison from an "overweight" rating to a "neutral" rating and decreased their price target for the stock from $230.00 to $210.00 in a research note on Thursday, October 24th. Bank of America upgraded Avery Dennison from an "underperform" rating to a "buy" rating and upped their price objective for the company from $207.00 to $250.00 in a research note on Thursday, October 17th. Barclays reduced their target price on Avery Dennison from $250.00 to $245.00 and set an "overweight" rating on the stock in a report on Monday, October 28th. Finally, UBS Group lowered Avery Dennison from a "buy" rating to a "neutral" rating and dropped their price target for the company from $262.00 to $235.00 in a research report on Thursday, July 25th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $244.96.

Insider Buying and Selling at Avery Dennison

In related news, Chairman Mitchell R. Butier sold 10,000 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $212.90, for a total value of $2,129,000.00. Following the completion of the transaction, the chairman now owns 304,114 shares in the company, valued at $64,745,870.60. This represents a 3.18 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders have sold 27,108 shares of company stock valued at $5,821,497 in the last quarter. Corporate insiders own 1.10% of the company's stock.

Avery Dennison Stock Performance

AVY stock traded down $2.18 during mid-day trading on Friday, reaching $197.73. The company had a trading volume of 460,769 shares, compared to its average volume of 467,220. The stock's 50-day simple moving average is $212.79 and its two-hundred day simple moving average is $217.52. The stock has a market capitalization of $15.89 billion, a P/E ratio of 23.74, a P/E/G ratio of 1.56 and a beta of 0.89. The company has a quick ratio of 0.62, a current ratio of 0.92 and a debt-to-equity ratio of 0.85. Avery Dennison Co. has a one year low of $186.66 and a one 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 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 last year, the firm posted $2.10 EPS. Avery Dennison's quarterly revenue was up 4.1% compared to the same quarter last year. Research analysts anticipate that Avery Dennison Co. will post 9.42 EPS for the current year.

Avery Dennison Dividend Announcement

The firm also recently announced 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. This represents a $3.52 annualized dividend and a yield of 1.78%. The ex-dividend date of this dividend is Wednesday, December 4th. Avery Dennison's dividend payout ratio is currently 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.