Avery Dennison Co. (NYSE:AVY) Position Lessened by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd lowered its stake in shares of Avery Dennison Co. (NYSE:AVY) by 36.5% in the third quarter, HoldingsChannel reports. The firm owned 3,942 shares of the industrial products company’s stock after selling 2,262 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Avery Dennison were worth $870,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Janus Henderson Group PLC increased its holdings in shares of Avery Dennison by 215.3% in the 1st quarter. Janus Henderson Group PLC now owns 32,604 shares of the industrial products company’s stock worth $7,276,000 after acquiring an additional 22,262 shares during the period. B. Riley Wealth Advisors Inc. increased its stake in shares of Avery Dennison by 24.7% in the first quarter. B. Riley Wealth Advisors Inc. now owns 1,420 shares of the industrial products company’s stock valued at $317,000 after purchasing an additional 281 shares during the period. California State Teachers Retirement System raised its holdings in shares of Avery Dennison by 4.4% during the first quarter. California State Teachers Retirement System now owns 156,183 shares of the industrial products company’s stock valued at $34,868,000 after buying an additional 6,591 shares during the last quarter. Jane Street Group LLC boosted its position in shares of Avery Dennison by 11.0% during the first quarter. Jane Street Group LLC now owns 47,420 shares of the industrial products company’s stock worth $10,587,000 after buying an additional 4,697 shares during the period. Finally, Tidal Investments LLC grew its holdings in Avery Dennison by 14.3% in the 1st quarter. Tidal Investments LLC now owns 2,986 shares of the industrial products company’s stock worth $667,000 after buying an additional 374 shares in the last quarter. 94.17% of the stock is owned by institutional investors and hedge funds.

Avery Dennison Price Performance

NYSE AVY opened at $205.19 on Thursday. The stock has a market capitalization of $16.49 billion, a P/E ratio of 24.63, a P/E/G ratio of 1.60 and a beta of 0.89. 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 business’s fifty day moving average is $210.12 and its two-hundred day moving average is $216.33. Avery Dennison Co. has a 1 year low of $188.92 and a 1 year high of $233.48.

Avery Dennison (NYSE:AVY) last announced its 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. Avery Dennison had a return on equity of 33.01% and a net margin of 7.76%. The company had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.20 billion. During the same period in the previous year, the firm earned $2.10 earnings per share. Avery Dennison’s revenue for the quarter was up 4.1% compared to the same quarter last year. On average, research analysts forecast that Avery Dennison Co. will post 9.42 earnings per share for the current fiscal year.

Avery Dennison Dividend Announcement

The company also recently announced 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. This represents a $3.52 annualized dividend and a dividend yield of 1.72%. The ex-dividend date of this dividend is Wednesday, December 4th. Avery Dennison’s dividend payout ratio (DPR) is currently 42.26%.

Insider Activity

In other news, SVP Nicholas Colisto sold 3,679 shares of Avery Dennison 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 transaction, the senior vice president now owns 7,126 shares in the company, valued at approximately $1,467,956. The trade was a 34.05 % decrease in their ownership of the stock. 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.

Analyst Ratings Changes

Several brokerages have weighed in on AVY. Bank of America raised Avery Dennison from an “underperform” rating to a “buy” rating and lifted their target price for the company from $207.00 to $250.00 in a research note on Thursday, October 17th. BMO Capital Markets reduced their price objective on shares of Avery Dennison from $252.00 to $247.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Citigroup lowered their target price 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. JPMorgan Chase & Co. lowered shares of Avery Dennison from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $230.00 to $210.00 in a research note on Thursday, October 24th. Finally, StockNews.com lowered shares of Avery Dennison from a “buy” rating to a “hold” rating in a research note on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.