iSAM Funds UK Ltd Buys Shares of 2,249 Avery Dennison Co. (NYSE:AVY)

iSAM Funds UK Ltd bought a new stake in Avery Dennison Co. (NYSE:AVY) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 2,249 shares of the industrial products company’s stock, valued at approximately $496,000.

Several other large investors have also recently bought and sold shares of AVY. Cetera Advisors LLC increased its stake in Avery Dennison by 204.2% in the first quarter. Cetera Advisors LLC now owns 4,225 shares of the industrial products company’s stock valued at $943,000 after purchasing an additional 2,836 shares in the last quarter. Simplicity Wealth LLC increased its stake in Avery Dennison by 28.6% in the second quarter. Simplicity Wealth LLC now owns 1,169 shares of the industrial products company’s stock valued at $256,000 after purchasing an additional 260 shares in the last quarter. QRG Capital Management Inc. increased its position in shares of Avery Dennison by 12.4% during the second quarter. QRG Capital Management Inc. now owns 5,151 shares of the industrial products company’s stock worth $1,126,000 after acquiring an additional 568 shares in the last quarter. SG Americas Securities LLC increased its position in shares of Avery Dennison by 86.5% during the second quarter. SG Americas Securities LLC now owns 32,538 shares of the industrial products company’s stock worth $7,114,000 after acquiring an additional 15,092 shares in the last quarter. Finally, Czech National Bank increased its position in shares of Avery Dennison by 8.3% during the second quarter. Czech National Bank now owns 15,350 shares of the industrial products company’s stock worth $3,356,000 after acquiring an additional 1,181 shares in the last quarter. Institutional investors own 94.17% of the company’s stock.

Insider Activity

In other news, SVP Nicholas Colisto sold 3,679 shares of the stock in a transaction dated 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 $1,467,956. This represents a 34.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

AVY has been the subject of several research reports. Bank of America raised shares of Avery Dennison from an “underperform” rating to a “buy” rating and increased their price objective for the stock from $207.00 to $250.00 in a research report on Thursday, October 17th. StockNews.com downgraded shares of Avery Dennison from a “buy” rating to a “hold” rating in a research report on Thursday, October 24th. Barclays lowered their price objective on shares of Avery Dennison from $250.00 to $245.00 and set an “overweight” rating for the company in a research 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 for the company in a report on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. cut shares of 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 report on Thursday, October 24th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $244.96.

Avery Dennison Stock Performance

Shares of AVY stock opened at $202.50 on Friday. The stock has a market cap of $16.27 billion, a P/E ratio of 24.31, a P/E/G ratio of 1.57 and a beta of 0.87. 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 company has a fifty day moving average price of $208.28 and a two-hundred day moving average price of $215.28. Avery Dennison Co. has a one year low of $190.04 and a one year high of $233.48.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share for the quarter, beating the consensus estimate 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 revenue was up 4.1% on a year-over-year basis. During the same period in the prior year, the firm earned $2.10 earnings per share. As a group, equities analysts predict that Avery Dennison Co. will post 9.42 EPS for the current year.

Avery Dennison Announces Dividend

The business also recently disclosed 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 1.74%. The ex-dividend date of this dividend is Wednesday, December 4th. Avery Dennison’s payout ratio is presently 42.26%.

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.