Parallel Advisors LLC increased its position in shares of Avery Dennison Corp (NYSE:AVY) by 15.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 790 shares of the industrial products company’s stock after acquiring an additional 108 shares during the period. Parallel Advisors LLC’s holdings in Avery Dennison were worth $90,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. AdvisorNet Financial Inc acquired a new stake in Avery Dennison in the 3rd quarter valued at about $28,000. TRUE Private Wealth Advisors acquired a new stake in Avery Dennison in the 2nd quarter valued at about $40,000. Amica Retiree Medical Trust acquired a new stake in Avery Dennison in the 2nd quarter valued at about $44,000. CSat Investment Advisory L.P. raised its position in Avery Dennison by 57.3% in the 2nd quarter. CSat Investment Advisory L.P. now owns 461 shares of the industrial products company’s stock valued at $53,000 after purchasing an additional 168 shares in the last quarter. Finally, Kavar Capital Partners LLC acquired a new stake in Avery Dennison in the 2nd quarter valued at about $55,000. 88.50% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE AVY traded down $1.13 during midday trading on Wednesday, hitting $132.76. 139,571 shares of the company’s stock were exchanged, compared to its average volume of 581,995. The firm’s fifty day simple moving average is $119.77 and its 200-day simple moving average is $113.53. The company has a market cap of $11.18 billion, a PE ratio of 21.91, a P/E/G ratio of 2.48 and a beta of 1.32. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.03 and a quick ratio of 0.74. Avery Dennison Corp has a twelve month low of $82.89 and a twelve month high of $134.56.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be paid a dividend of $0.58 per share. The ex-dividend date is Tuesday, December 3rd. This represents a $2.32 dividend on an annualized basis and a yield of 1.75%. Avery Dennison’s dividend payout ratio is presently 38.28%.
In related news, Director Julia A. Stewart sold 6,318 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $130.00, for a total transaction of $821,340.00. Following the transaction, the director now owns 18,624 shares in the company, valued at approximately $2,421,120. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Lori J. Bondar sold 4,500 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $126.00, for a total value of $567,000.00. Following the transaction, the chief accounting officer now owns 12,928 shares in the company, valued at approximately $1,628,928. The disclosure for this sale can be found here. Insiders have sold a total of 19,781 shares of company stock worth $2,418,877 in the last 90 days. 1.30% of the stock is currently owned by company insiders.
AVY has been the topic of a number of analyst reports. JPMorgan Chase & Co. increased their price target on Avery Dennison from $105.00 to $111.00 and gave the company an “underweight” rating in a research report on Wednesday, July 24th. Berenberg Bank initiated coverage on Avery Dennison in a research report on Thursday, August 15th. They issued a “buy” rating and a $130.00 price target on the stock. Citigroup lowered Avery Dennison from a “buy” rating to a “neutral” rating and increased their price target for the company from $132.00 to $136.00 in a research report on Thursday, October 24th. Zacks Investment Research raised Avery Dennison from a “sell” rating to a “hold” rating and set a $134.00 target price on the stock in a research report on Friday, October 25th. Finally, Robert W. Baird raised their target price on Avery Dennison from $125.00 to $140.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $126.00.
Avery Dennison Profile
Avery Dennison Corporation produces and sells pressure-sensitive materials worldwide. The company's Label and Graphic Materials segment offers pressure-sensitive label and packaging materials; and graphics and reflective products under the Fasson, JAC, Avery Dennison, and Mactac brands, as well as durable cast and reflective films.
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