Principal Financial Group Inc. Grows Position in Avery Dennison Co. (NYSE:AVY)

Principal Financial Group Inc. boosted its stake in shares of Avery Dennison Co. (NYSE:AVY - Free Report) by 0.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 617,611 shares of the industrial products company's stock after purchasing an additional 4,670 shares during the quarter. Principal Financial Group Inc. owned about 0.77% of Avery Dennison worth $136,338,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in AVY. Innealta Capital LLC acquired a new stake in shares of Avery Dennison in the 2nd quarter worth $28,000. Larson Financial Group LLC raised its stake in 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 last quarter. Kennebec Savings Bank purchased a new stake in shares of Avery Dennison during the third quarter worth about $36,000. Peterson Financial Group Inc. acquired a new position in shares of Avery Dennison during the third quarter valued at about $39,000. Finally, Ashton Thomas Private Wealth LLC purchased a new position in shares of Avery Dennison in the 2nd quarter valued at approximately $42,000. 94.17% of the stock is currently owned by institutional investors.

Avery Dennison Price Performance

Shares of AVY stock traded up $1.87 during mid-day trading on Friday, hitting $188.13. 1,308,832 shares of the stock were exchanged, compared to its average volume of 480,055. Avery Dennison Co. has a 52-week low of $185.73 and a 52-week high of $233.48. The company has a quick ratio of 0.62, a current ratio of 0.92 and a debt-to-equity ratio of 0.85. The company has a market cap of $15.12 billion, a PE ratio of 22.58, a price-to-earnings-growth ratio of 1.52 and a beta of 0.87. The firm has a fifty day moving average of $203.88 and a 200 day moving average of $213.03.

Avery Dennison (NYSE:AVY - Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share (EPS) for the quarter, topping 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%. Avery Dennison's revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.10 earnings per share. Research analysts anticipate that Avery Dennison Co. will post 9.42 earnings per share for the current year.

Avery Dennison Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th were given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date of this dividend was Wednesday, December 4th. Avery Dennison's dividend payout ratio is presently 42.26%.

Wall Street Analyst Weigh In

AVY has been the topic of a number of recent analyst reports. StockNews.com lowered shares of Avery Dennison from a "buy" rating to a "hold" rating in a research note on Thursday, October 24th. BMO Capital Markets cut their target price on Avery Dennison from $252.00 to $247.00 and set an "outperform" rating on the stock in a research report on Thursday, October 24th. Barclays lowered their price target on Avery Dennison from $250.00 to $245.00 and set an "overweight" rating for the company in a research report on Monday, October 28th. Citigroup cut their price objective on Avery Dennison from $241.00 to $240.00 and set a "neutral" rating on the stock in a report on Wednesday, October 2nd. Finally, Bank of America upgraded Avery Dennison from an "underperform" rating to a "buy" rating and upped their target price for the company from $207.00 to $250.00 in a research report on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $244.96.

Insider Buying and Selling at Avery Dennison

In other Avery Dennison news, SVP Nicholas Colisto sold 3,679 shares of the business's stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $206.00, for a total transaction of $757,874.00. Following the completion of the sale, the senior vice president now directly owns 7,126 shares in the company, valued at approximately $1,467,956. The trade was a 34.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.10% of the company's stock.

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.