Smithbridge Asset Management Inc. DE Increases Stock Holdings in Avery Dennison Co. (NYSE:AVY)

Smithbridge Asset Management Inc. DE lifted its holdings in Avery Dennison Co. (NYSE:AVY - Free Report) by 87.5% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 8,157 shares of the industrial products company's stock after acquiring an additional 3,806 shares during the quarter. Smithbridge Asset Management Inc. DE's holdings in Avery Dennison were worth $1,801,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Taylor Frigon Capital Management LLC lifted its stake in Avery Dennison by 0.8% in the first quarter. Taylor Frigon Capital Management LLC now owns 6,386 shares of the industrial products company's stock worth $1,426,000 after purchasing an additional 48 shares during the last quarter. Intech Investment Management LLC lifted its stake in shares of Avery Dennison by 3.3% in the 2nd quarter. Intech Investment Management LLC now owns 1,559 shares of the industrial products company's stock valued at $341,000 after acquiring an additional 50 shares during the last quarter. Procyon Advisors LLC boosted its holdings in Avery Dennison by 4.0% during the 3rd quarter. Procyon Advisors LLC now owns 1,442 shares of the industrial products company's stock valued at $319,000 after acquiring an additional 56 shares during the period. Bailard Inc. grew its position in Avery Dennison by 0.5% during the 2nd quarter. Bailard Inc. now owns 12,202 shares of the industrial products company's stock worth $2,668,000 after acquiring an additional 61 shares during the last quarter. Finally, Legacy Wealth Asset Management LLC lifted its position in Avery Dennison by 4.5% in the third quarter. Legacy Wealth Asset Management LLC now owns 1,479 shares of the industrial products company's stock valued at $327,000 after purchasing an additional 64 shares during the last quarter. Hedge funds and other institutional investors own 94.17% of the company's stock.

Avery Dennison Stock Up 0.0 %

NYSE:AVY traded up $0.07 during mid-day trading on Monday, hitting $207.23. 598,863 shares of the company's stock were exchanged, compared to its average volume of 466,467. The company has a market cap of $16.69 billion, a PE ratio of 30.32, a P/E/G ratio of 1.78 and a beta of 0.88. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.90 and a quick ratio of 0.60. Avery Dennison Co. has a one year low of $170.42 and a one year high of $233.48. The business has a fifty day moving average price of $216.73 and a 200 day moving average price of $218.47.

Avery Dennison (NYSE:AVY - Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 EPS for the quarter, topping analysts' consensus estimates of $2.32 by $0.01. Avery Dennison had a return on equity of 33.44% and a net margin of 7.34%. The firm had revenue of $2.18 billion for the quarter, compared to analysts' expectations of $2.20 billion. During the same period in the previous year, the firm posted $2.10 EPS. The business's revenue for the quarter was up 4.1% compared to the same quarter last year. Equities analysts predict that Avery Dennison Co. will post 9.41 EPS for the current year.

Avery Dennison Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be given a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.70%. The ex-dividend date is Wednesday, December 4th. Avery Dennison's dividend payout ratio is presently 51.39%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on AVY. StockNews.com cut shares of Avery Dennison from a "buy" rating to a "hold" rating in a report on Thursday. Bank of America upgraded shares of Avery Dennison from an "underperform" rating to a "buy" rating and boosted their price objective for the company from $207.00 to $250.00 in a research report on Thursday, October 17th. BMO Capital Markets dropped their target price on shares of Avery Dennison from $252.00 to $247.00 and set an "outperform" rating for the company in a report on Thursday. Stifel Nicolaus assumed coverage on Avery Dennison in a report on Tuesday, July 9th. They set a "buy" rating and a $274.60 price target on the stock. Finally, Barclays dropped their price objective on Avery Dennison from $250.00 to $245.00 and set an "overweight" rating for the company in a report on Monday. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Avery Dennison has an average rating of "Moderate Buy" and a consensus target price of $244.96.

Insider Buying and Selling

In other Avery Dennison news, Chairman Mitchell R. Butier sold 10,000 shares of the firm's stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $213.75, for a total transaction of $2,137,500.00. Following the completion of the sale, the chairman now directly owns 304,114 shares in the company, valued at approximately $65,004,367.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Avery Dennison news, Chairman Mitchell R. Butier sold 10,000 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $213.75, for a total transaction of $2,137,500.00. Following the sale, the chairman now directly owns 304,114 shares in the company, valued at approximately $65,004,367.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Mitchell R. Butier sold 7,108 shares of Avery Dennison stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $218.12, for a total value of $1,550,396.96. Following the completion of the sale, the chairman now directly owns 304,114 shares of the company's stock, valued at approximately $66,333,345.68. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 59,108 shares of company stock worth $12,545,087 in the last quarter. 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.