National Pension Service Has $27.24 Million Stake in Avery Dennison Co. (NYSE:AVY)

National Pension Service grew its position in shares of Avery Dennison Co. (NYSE:AVY - Free Report) by 3.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 123,371 shares of the industrial products company's stock after buying an additional 3,590 shares during the period. National Pension Service owned about 0.15% of Avery Dennison worth $27,235,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Nordea Investment Management AB grew its holdings in shares of Avery Dennison by 3.2% during the first quarter. Nordea Investment Management AB now owns 6,089 shares of the industrial products company's stock valued at $1,367,000 after purchasing an additional 187 shares during the last quarter. Empirical Finance LLC lifted its stake in Avery Dennison by 3.4% in the first quarter. Empirical Finance LLC now owns 2,973 shares of the industrial products company's stock valued at $664,000 after buying an additional 99 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Avery Dennison by 6.2% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 14,336 shares of the industrial products company's stock valued at $3,201,000 after acquiring an additional 836 shares during the period. Quantbot Technologies LP bought a new position in shares of Avery Dennison during the first quarter worth about $306,000. Finally, SG Americas Securities LLC increased its holdings in shares of Avery Dennison by 280.8% in the 1st quarter. SG Americas Securities LLC now owns 17,446 shares of the industrial products company's stock worth $3,895,000 after acquiring an additional 12,865 shares during the period. Institutional investors and hedge funds own 94.17% of the company's stock.

Insiders Place Their Bets

In other news, Chairman Mitchell R. Butier sold 3,000 shares of the company's stock in a transaction on Monday, August 12th. The stock was sold at an average price of $206.82, for a total transaction of $620,460.00. Following the transaction, the chairman now owns 304,114 shares of the company's stock, valued at $62,896,857.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, Chairman Mitchell R. Butier sold 3,000 shares of the company's stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $206.82, for a total value of $620,460.00. Following the completion of the sale, the chairman now directly owns 304,114 shares of the company's stock, valued at $62,896,857.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Mitchell R. Butier sold 10,000 shares of Avery Dennison stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $211.91, for a total value of $2,119,100.00. Following the transaction, the chairman now owns 304,114 shares in the company, valued at approximately $64,444,797.74. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 40,108 shares of company stock valued at $8,561,057. Insiders own 1.10% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on the stock. Bank of America upgraded 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 research report on Thursday, October 17th. JPMorgan Chase & Co. lowered Avery Dennison from an "overweight" rating to a "neutral" rating and dropped their price target for the company from $230.00 to $210.00 in a research report on Thursday, October 24th. Citigroup reduced their price target 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. Barclays cut their target price on shares of Avery Dennison from $250.00 to $245.00 and set an "overweight" rating for the company in a research report on Monday, October 28th. Finally, StockNews.com lowered Avery Dennison from a "buy" rating to a "hold" rating in a 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 has a consensus rating of "Moderate Buy" and an average target price of $244.96.

Avery Dennison Stock Performance

NYSE AVY traded down $0.47 during trading on Friday, hitting $204.98. The company's stock had a trading volume of 208,872 shares, compared to its average volume of 467,078. The firm has a 50 day moving average price of $214.90 and a 200 day moving average price of $218.05. The firm has a market cap of $16.47 billion, a P/E ratio of 24.73, a price-to-earnings-growth ratio of 1.58 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 52 week low of $176.78 and a 52 week high of $233.48.

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 for the quarter, beating analysts' consensus estimates of $2.32 by $0.01. The company had revenue of $2.18 billion for 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 company's quarterly revenue was up 4.1% on a year-over-year basis. During the same period in the previous year, the business earned $2.10 earnings per share. Equities research analysts forecast that Avery Dennison Co. will post 9.41 earnings per share for the current fiscal year.

Avery Dennison Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be issued a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 1.72%. The ex-dividend date is Wednesday, December 4th. Avery Dennison's payout ratio is presently 42.26%.

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.