Unigestion Holding SA Takes Position in Avery Dennison Co. (NYSE:AVY)

Unigestion Holding SA acquired a new stake in shares of Avery Dennison Co. (NYSE:AVY - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 30,355 shares of the industrial products company's stock, valued at approximately $6,701,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AVY. Intech Investment Management LLC increased its holdings in Avery Dennison by 3.3% during the 2nd 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 during the period. Empirical Finance LLC boosted its stake in shares of Avery Dennison by 2.0% in the 3rd quarter. Empirical Finance LLC now owns 2,822 shares of the industrial products company's stock valued at $623,000 after purchasing an additional 55 shares in the last quarter. Procyon Advisors LLC increased its stake 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 purchasing an additional 56 shares during the period. Lindenwold Advisors INC grew its stake in shares of Avery Dennison by 0.6% in the third quarter. Lindenwold Advisors INC now owns 10,266 shares of the industrial products company's stock worth $2,266,000 after purchasing an additional 59 shares during the last quarter. Finally, Cynosure Group LLC lifted its position 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 purchasing an additional 59 shares during the period. 94.17% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. downgraded Avery Dennison from an "overweight" rating to a "neutral" rating and reduced their price target for the company from $230.00 to $210.00 in a report on Thursday, October 24th. Citigroup dropped their price target on shares of Avery Dennison from $241.00 to $240.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 2nd. BMO Capital Markets lowered their price objective 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. Bank of America upgraded Avery Dennison from an "underperform" rating to a "buy" rating and raised their price objective for the company from $207.00 to $250.00 in a research report on Thursday, October 17th. Finally, StockNews.com downgraded shares of Avery Dennison from a "buy" rating to a "hold" rating in a research note on Thursday, October 24th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $244.96.

Avery Dennison Stock Down 1.9 %

Shares of AVY stock traded down $3.90 on Wednesday, reaching $197.56. 574,426 shares of the stock were exchanged, compared to its average volume of 474,416. Avery Dennison Co. has a twelve month low of $190.04 and a twelve month high of $233.48. The company has a market capitalization of $15.87 billion, a price-to-earnings ratio of 23.72, a PEG ratio of 1.56 and a beta of 0.87. The company has a current ratio of 0.92, a quick ratio of 0.62 and a debt-to-equity ratio of 0.85. The business's 50 day moving average price is $207.20 and its 200 day moving average price is $214.71.

Avery Dennison (NYSE:AVY - Get Free Report) last released 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 firm had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.20 billion. Avery Dennison had a return on equity of 33.01% and a net margin of 7.76%. The business's revenue was up 4.1% on a year-over-year basis. During the same quarter last year, the company posted $2.10 earnings per share. As a group, sell-side analysts expect that Avery Dennison Co. will post 9.42 earnings per share for the current fiscal year.

Avery Dennison Dividend Announcement

The business also recently disclosed 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. The ex-dividend date 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%.

Insider Transactions at Avery Dennison

In other Avery Dennison news, SVP Nicholas Colisto sold 3,679 shares of the company'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 value of $757,874.00. Following the transaction, the senior vice president now directly owns 7,126 shares of the company's stock, valued at $1,467,956. This represents a 34.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 1.10% of the company's stock.

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.