Avery Dennison Co. (NYSE:AVY) Shares Bought by Wilmington Savings Fund Society FSB

Wilmington Savings Fund Society FSB boosted its holdings in Avery Dennison Co. (NYSE:AVY - Free Report) by 384.6% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,203 shares of the industrial products company's stock after acquiring an additional 4,923 shares during the quarter. Wilmington Savings Fund Society FSB's holdings in Avery Dennison were worth $1,369,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Geode Capital Management LLC increased its holdings in shares of Avery Dennison by 8.2% in the 3rd quarter. Geode Capital Management LLC now owns 2,088,516 shares of the industrial products company's stock worth $459,621,000 after purchasing an additional 157,754 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of Avery Dennison by 6.8% in the third quarter. Victory Capital Management Inc. now owns 1,416,798 shares of the industrial products company's stock worth $312,772,000 after purchasing an additional 90,250 shares during the last quarter. Meridiem Investment Management Ltd. grew its stake in shares of Avery Dennison by 0.7% during the third quarter. Meridiem Investment Management Ltd. now owns 794,092 shares of the industrial products company's stock valued at $175,261,000 after buying an additional 5,756 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Avery Dennison by 4.3% in the second quarter. Dimensional Fund Advisors LP now owns 787,716 shares of the industrial products company's stock valued at $172,254,000 after purchasing an additional 32,467 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its holdings in Avery Dennison by 0.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 699,541 shares of the industrial products company's stock worth $154,431,000 after buying an additional 3,118 shares during the period. 94.17% of the stock is currently owned by hedge funds and other institutional investors.

Avery Dennison Stock Performance

AVY stock traded down $2.53 during trading hours on Friday, reaching $195.14. The stock had a trading volume of 375,403 shares, compared to its average volume of 473,958. Avery Dennison Co. has a fifty-two week low of $193.49 and a fifty-two week high of $233.48. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.92 and a quick ratio of 0.62. The stock has a 50-day simple moving average of $206.51 and a 200 day simple moving average of $214.30. The stock has a market capitalization of $15.68 billion, a PE ratio of 23.43, a price-to-earnings-growth ratio of 1.52 and a beta of 0.87.

Avery Dennison (NYSE:AVY - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $2.33 EPS 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 analyst estimates of $2.20 billion. Avery Dennison had a net margin of 7.76% and a return on equity of 33.01%. The company's quarterly revenue was up 4.1% on a year-over-year basis. During the same period in the prior year, the firm posted $2.10 EPS. Analysts predict that Avery Dennison Co. will post 9.42 EPS for the current fiscal year.

Avery Dennison Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be paid a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 1.80%. The ex-dividend date is Wednesday, December 4th. Avery Dennison's dividend payout ratio (DPR) is presently 42.26%.

Insider Buying and Selling

In related news, SVP Nicholas Colisto sold 3,679 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $206.00, for a total value of $757,874.00. Following the completion of the sale, the senior vice president now directly owns 7,126 shares of the company's stock, valued at approximately $1,467,956. This represents a 34.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on AVY shares. JPMorgan Chase & Co. lowered shares of Avery Dennison from an "overweight" rating to a "neutral" rating and lowered their target price for the stock from $230.00 to $210.00 in a research note on Thursday, October 24th. BMO Capital Markets dropped their price target on shares of Avery Dennison from $252.00 to $247.00 and set an "outperform" rating for the company in a research note on Thursday, October 24th. StockNews.com downgraded Avery Dennison from a "buy" rating to a "hold" rating in a report on Thursday, October 24th. Barclays reduced their price objective on Avery Dennison from $250.00 to $245.00 and set an "overweight" rating for the company in a research note on Monday, October 28th. Finally, Bank of America upgraded Avery Dennison from an "underperform" rating to a "buy" rating and upped their price target for the stock from $207.00 to $250.00 in a report on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $244.96.

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.