Bridgewater Associates LP Buys 572 Shares of Avery Dennison Co. (NYSE:AVY)

Bridgewater Associates LP increased its stake in Avery Dennison Co. (NYSE:AVY) by 3.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,438 shares of the industrial products company’s stock after acquiring an additional 572 shares during the period. Bridgewater Associates LP’s holdings in Avery Dennison were worth $3,629,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Victory Capital Management Inc. lifted its position in 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 valued at $312,772,000 after purchasing an additional 90,250 shares during the last quarter. Meridiem Investment Management Ltd. increased its stake in shares of Avery Dennison by 0.7% in the third quarter. Meridiem Investment Management Ltd. now owns 794,092 shares of the industrial products company’s stock worth $175,261,000 after buying an additional 5,756 shares during the period. Dimensional Fund Advisors LP raised its holdings in Avery Dennison by 4.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 787,716 shares of the industrial products company’s stock valued at $172,254,000 after buying an additional 32,467 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in Avery Dennison by 0.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 699,541 shares of the industrial products company’s stock valued at $154,431,000 after buying an additional 3,118 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in Avery Dennison by 0.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 688,417 shares of the industrial products company’s stock worth $151,975,000 after acquiring an additional 1,782 shares during the last quarter. 94.17% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Avery Dennison

In related news, SVP Nicholas Colisto sold 3,679 shares of the firm’s 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 transaction, the senior vice president now owns 7,126 shares of the company’s stock, valued at approximately $1,467,956. This trade represents a 34.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.10% of the company’s stock.

Avery Dennison Trading Up 0.4 %

Shares of NYSE:AVY opened at $205.95 on Friday. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.92 and a quick ratio of 0.62. Avery Dennison Co. has a 1 year low of $190.04 and a 1 year high of $233.48. The company has a market cap of $16.55 billion, a P/E ratio of 24.72, a PEG ratio of 1.58 and a beta of 0.89. The stock’s fifty day moving average price is $209.80 and its 200-day moving average price is $216.05.

Avery Dennison (NYSE:AVY) 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 during the quarter, compared to the consensus estimate of $2.20 billion. Avery Dennison had a net margin of 7.76% and a return on equity of 33.01%. The firm’s revenue was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.10 EPS. Sell-side analysts expect that Avery Dennison Co. will post 9.42 earnings per share for the current year.

Avery Dennison Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be given a $0.88 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $3.52 annualized dividend and a yield of 1.71%. Avery Dennison’s payout ratio is 42.26%.

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.