Zurcher Kantonalbank Zurich Cantonalbank Increases Position in Avery Dennison Co. (NYSE:AVY)

Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Avery Dennison Co. (NYSE:AVY - Free Report) by 34.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 24,128 shares of the industrial products company's stock after purchasing an additional 6,150 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Avery Dennison were worth $5,326,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Innealta Capital LLC acquired a new position in shares of Avery Dennison in the 2nd quarter valued at $28,000. Larson Financial Group LLC increased its holdings in Avery Dennison by 100.0% in the 3rd quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company's stock valued at $31,000 after purchasing an additional 71 shares during the last quarter. Kennebec Savings Bank purchased a new stake in Avery Dennison in the third quarter valued at approximately $36,000. Peterson Financial Group Inc. acquired a new position in Avery Dennison during the third quarter worth $39,000. Finally, Ashton Thomas Private Wealth LLC purchased a new position in shares of Avery Dennison during the second quarter worth $42,000. Hedge funds and other institutional investors own 94.17% of the company's stock.

Avery Dennison Stock Down 0.5 %

AVY stock traded down $0.95 during midday trading on Tuesday, reaching $205.19. 731,598 shares of the company were exchanged, compared to its average volume of 473,237. The stock's 50-day simple moving average is $209.61 and its 200 day simple moving average is $215.85. Avery Dennison Co. has a 1-year low of $190.04 and a 1-year 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. The company has a market cap of $16.49 billion, a price-to-earnings ratio of 24.74, a price-to-earnings-growth ratio of 1.58 and a beta of 0.87.

Avery Dennison (NYSE:AVY - Get Free Report) last posted its 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. The business had revenue of $2.18 billion for the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.10 earnings per share. On average, equities analysts forecast that Avery Dennison Co. will post 9.42 earnings per share for the current year.

Avery Dennison Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors 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 yield of 1.72%. Avery Dennison's dividend payout ratio (DPR) is 42.26%.

Insider Buying and Selling

In other Avery Dennison news, SVP Nicholas Colisto sold 3,679 shares of the business's stock in a transaction 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 transaction, the senior vice president now directly owns 7,126 shares of the company's stock, valued at approximately $1,467,956. The trade was a 34.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on AVY. StockNews.com cut Avery Dennison from a "buy" rating to a "hold" rating in a report on Thursday, October 24th. Barclays dropped their price objective on shares of Avery Dennison from $250.00 to $245.00 and set an "overweight" rating for the company in a report on Monday, October 28th. Citigroup reduced their target price 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. JPMorgan Chase & Co. lowered Avery Dennison from an "overweight" rating to a "neutral" rating and decreased their target price for the company from $230.00 to $210.00 in a report on Thursday, October 24th. Finally, BMO Capital Markets cut their price target on Avery Dennison from $252.00 to $247.00 and set an "outperform" rating on the stock in a report on Thursday, October 24th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Avery Dennison has an average rating of "Moderate Buy" and a consensus target price of $244.96.

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.