State Street Corp Buys 7,511 Shares of Avery Dennison Co. (NYSE:AVY)

State Street Corp lifted its stake in Avery Dennison Co. (NYSE:AVY - Free Report) by 0.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,549,550 shares of the industrial products company's stock after acquiring an additional 7,511 shares during the period. State Street Corp owned approximately 4.42% of Avery Dennison worth $783,599,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Intech Investment Management LLC grew its position in Avery Dennison by 3.3% in the second quarter. Intech Investment Management LLC now owns 1,559 shares of the industrial products company's stock worth $341,000 after acquiring an additional 50 shares in the last quarter. Empirical Finance LLC raised its holdings in shares of Avery Dennison by 2.0% during the 3rd quarter. Empirical Finance LLC now owns 2,822 shares of the industrial products company's stock valued at $623,000 after buying an additional 55 shares in the last quarter. Procyon Advisors LLC lifted its position in Avery Dennison by 4.0% in the 3rd quarter. Procyon Advisors LLC now owns 1,442 shares of the industrial products company's stock worth $319,000 after buying an additional 56 shares during the last quarter. Lindenwold Advisors INC grew its position in Avery Dennison by 0.6% during the third quarter. Lindenwold Advisors INC now owns 10,266 shares of the industrial products company's stock valued at $2,266,000 after acquiring an additional 59 shares during the last quarter. Finally, Cynosure Group LLC lifted its holdings in shares of Avery Dennison by 3.6% in the 3rd quarter. Cynosure Group LLC now owns 1,712 shares of the industrial products company's stock worth $378,000 after acquiring an additional 59 shares during the last quarter. 94.17% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Avery Dennison

In other news, SVP Nicholas Colisto sold 3,679 shares of the firm's stock in a transaction 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 transaction, the senior vice president now directly owns 7,126 shares in the company, valued at $1,467,956. This trade represents a 34.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

AVY has been the topic of several recent research reports. Bank of America raised shares of Avery Dennison from an "underperform" rating to a "buy" rating and increased their target price for the company from $207.00 to $250.00 in a report on Thursday, October 17th. StockNews.com downgraded Avery Dennison from a "buy" rating to a "hold" rating in a report on Thursday, October 24th. BMO Capital Markets dropped their target price on Avery Dennison from $252.00 to $247.00 and set an "outperform" rating for the company in a report on Thursday, October 24th. JPMorgan Chase & Co. cut 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. Finally, Citigroup cut their price target on shares of Avery Dennison from $241.00 to $240.00 and set a "neutral" rating on the stock in a report on Wednesday, October 2nd. Four equities research 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.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $244.96.

Avery Dennison Stock Down 0.4 %

Shares of AVY traded down $0.79 on Friday, reaching $202.50. The stock had a trading volume of 594,624 shares, compared to its average volume of 500,643. The firm has a market capitalization of $16.27 billion, a price-to-earnings ratio of 24.31, a price-to-earnings-growth ratio of 1.57 and a beta of 0.87. The company has a 50-day simple moving average of $208.28 and a 200-day simple moving average of $215.28. Avery Dennison Co. has a 12-month low of $190.04 and a 12-month high of $233.48. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.62 and a current ratio of 0.92.

Avery Dennison (NYSE:AVY - Get Free Report) last released its earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share for the quarter, topping analysts' consensus estimates 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 in the prior year, the firm earned $2.10 EPS. The company's revenue was up 4.1% compared to the same quarter last year. Sell-side analysts predict that Avery Dennison Co. will post 9.42 EPS for the current year.

Avery Dennison Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date is Wednesday, December 4th. Avery Dennison's dividend payout ratio (DPR) 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.