Townsquare Capital LLC Boosts Stake in Avery Dennison Co. (NYSE:AVY)

Townsquare Capital LLC boosted its stake in shares of Avery Dennison Co. (NYSE:AVY) by 1.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,881 shares of the industrial products company’s stock after buying an additional 400 shares during the period. Townsquare Capital LLC’s holdings in Avery Dennison were worth $5,493,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Cetera Investment Advisers lifted its holdings in shares of Avery Dennison by 195.2% during the 1st quarter. Cetera Investment Advisers now owns 17,863 shares of the industrial products company’s stock valued at $3,988,000 after purchasing an additional 11,811 shares during the last quarter. SG Americas Securities LLC lifted its holdings in shares of Avery Dennison by 86.5% during the 2nd quarter. SG Americas Securities LLC now owns 32,538 shares of the industrial products company’s stock valued at $7,114,000 after purchasing an additional 15,092 shares during the last quarter. McElhenny Sheffield Capital Management LLC purchased a new stake in shares of Avery Dennison during the 2nd quarter valued at $543,000. Swedbank AB lifted its holdings in shares of Avery Dennison by 1.0% during the 2nd quarter. Swedbank AB now owns 462,083 shares of the industrial products company’s stock valued at $101,034,000 after purchasing an additional 4,673 shares during the last quarter. Finally, Jane Street Group LLC lifted its holdings in shares of Avery Dennison by 11.0% during the 1st quarter. Jane Street Group LLC now owns 47,420 shares of the industrial products company’s stock valued at $10,587,000 after purchasing an additional 4,697 shares during the last quarter. Hedge funds and other institutional investors own 94.17% of the company’s stock.

Insider Activity

In other news, SVP Nicholas Colisto sold 3,679 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $206.00, for a total transaction of $757,874.00. Following the sale, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.10% of the company’s stock.

Avery Dennison Price Performance

Shares of AVY opened at $205.15 on Friday. The business’s 50-day moving average is $209.91 and its two-hundred day moving average is $216.25. The company has a market capitalization of $16.48 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. Avery Dennison Co. has a fifty-two week low of $188.92 and a fifty-two week high of $233.48.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share for the quarter, topping the consensus estimate of $2.32 by $0.01. The company had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.20 billion. Avery Dennison had a return on equity of 33.01% and a net margin of 7.76%. The firm’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period last year, the firm earned $2.10 EPS. Research analysts predict that Avery Dennison Co. will post 9.42 earnings per share for the current year.

Avery Dennison Dividend Announcement

The firm 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 dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date is Wednesday, December 4th. Avery Dennison’s dividend payout ratio (DPR) is presently 42.26%.

Analysts Set New Price Targets

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

Avery Dennison 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.