National Bank of Canada FI Sells 119,086 Shares of Avery Dennison Co. (NYSE:AVY)

National Bank of Canada FI lowered its position in shares of Avery Dennison Co. (NYSE:AVY - Free Report) by 74.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 41,162 shares of the industrial products company's stock after selling 119,086 shares during the quarter. National Bank of Canada FI owned 0.05% of Avery Dennison worth $9,087,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Innealta Capital LLC acquired a new position in shares of Avery Dennison in the 2nd quarter valued at approximately $28,000. Larson Financial Group LLC boosted its holdings in shares of Avery Dennison by 100.0% in the third quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company's stock valued at $31,000 after buying an additional 71 shares during the period. Kennebec Savings Bank bought a new stake in shares of Avery Dennison during the third quarter worth $36,000. Peterson Financial Group Inc. acquired a new stake in shares of Avery Dennison during the third quarter worth $39,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in Avery Dennison in the 2nd quarter valued at $42,000. Institutional investors own 94.17% of the company's stock.

Insider Activity

In other 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 completion of the sale, the senior vice president now owns 7,126 shares of the company's stock, valued at approximately $1,467,956. The trade was a 34.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on AVY shares. Barclays lowered their target price on Avery Dennison from $250.00 to $245.00 and set an "overweight" rating for the company in a report on Monday, October 28th. StockNews.com lowered Avery Dennison from a "buy" rating to a "hold" rating in a research report on Thursday, October 24th. Citigroup reduced their price target 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. 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. Finally, JPMorgan Chase & Co. downgraded shares of Avery Dennison from an "overweight" rating to a "neutral" rating and decreased their target price for the company from $230.00 to $210.00 in a research report on Thursday, October 24th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Avery Dennison has an average rating of "Moderate Buy" and an average price target of $244.96.

Avery Dennison Stock Performance

Shares of Avery Dennison stock traded up $0.11 during trading on Thursday, hitting $197.67. 457,257 shares of the stock were exchanged, compared to its average volume of 473,676. Avery Dennison Co. has a 1-year low of $190.21 and a 1-year high of $233.48. The stock has a market capitalization of $15.88 billion, a price-to-earnings ratio of 23.72, a price-to-earnings-growth ratio of 1.56 and a beta of 0.87. The company has a fifty day moving average price of $207.20 and a 200-day moving average price of $214.71. 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 released its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.32 by $0.01. Avery Dennison had a return on equity of 33.01% and a net margin of 7.76%. The firm had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.20 billion. During the same quarter in the prior year, the company earned $2.10 earnings per share. The business's revenue for the quarter was up 4.1% compared to the same quarter last year. As a group, equities analysts predict that Avery Dennison Co. will post 9.42 EPS for the current fiscal year.

Avery Dennison Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders 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 annualized dividend and a dividend yield of 1.78%. Avery Dennison's dividend payout ratio is currently 42.26%.

About Avery Dennison

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.