Blueshift Asset Management LLC Purchases New Shares in Avery Dennison Co. (NYSE:AVY)

Blueshift Asset Management LLC purchased a new stake in Avery Dennison Co. (NYSE:AVY) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 939 shares of the industrial products company’s stock, valued at approximately $207,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Glenmede Trust Co. NA lifted its position in Avery Dennison by 3.6% during the third quarter. Glenmede Trust Co. NA now owns 8,523 shares of the industrial products company’s stock worth $1,882,000 after purchasing an additional 297 shares during the period. Bridgewater Associates LP lifted its holdings in shares of Avery Dennison by 3.6% in the third quarter. Bridgewater Associates LP now owns 16,438 shares of the industrial products company’s stock worth $3,629,000 after acquiring an additional 572 shares during the last quarter. Cynosure Group LLC lifted its holdings in shares of Avery Dennison by 3.6% in the third quarter. Cynosure Group LLC now owns 1,712 shares of the industrial products company’s stock worth $378,000 after acquiring an additional 59 shares during the last quarter. Townsquare Capital LLC lifted its holdings in shares of Avery Dennison by 1.6% in the third quarter. Townsquare Capital LLC now owns 24,881 shares of the industrial products company’s stock worth $5,493,000 after acquiring an additional 400 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings in shares of Avery Dennison by 22.7% in the third quarter. BNP Paribas Financial Markets now owns 117,980 shares of the industrial products company’s stock worth $26,045,000 after acquiring an additional 21,806 shares during the last quarter. 94.17% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Avery Dennison

In related news, SVP Nicholas Colisto sold 3,679 shares of Avery Dennison stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $206.00, for a total value of $757,874.00. Following the completion of the sale, 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. BMO Capital Markets dropped their target price 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 dropped 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. Bank of America raised shares of Avery Dennison from an “underperform” rating to a “buy” rating and increased their target price for the stock from $207.00 to $250.00 in a report on Thursday, October 17th. JPMorgan Chase & Co. cut shares of Avery Dennison from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $230.00 to $210.00 in a report on Thursday, October 24th. Finally, Barclays dropped their price objective on shares of Avery Dennison from $250.00 to $245.00 and set an “overweight” rating for the company in a report on Monday, October 28th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $244.96.

Avery Dennison Stock Performance

Shares of AVY stock opened at $205.89 on Friday. The company has a market cap of $16.54 billion, a price-to-earnings ratio of 24.72, a price-to-earnings-growth ratio of 1.58 and a beta of 0.89. Avery Dennison Co. has a 52 week low of $190.04 and a 52 week high of $233.48. The company has a quick ratio of 0.62, a current ratio of 0.92 and a debt-to-equity ratio of 0.85. The firm has a 50 day moving average of $209.80 and a 200-day moving average of $216.12.

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. Avery Dennison had a return on equity of 33.01% and a net margin of 7.76%. The business had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.20 billion. During the same period last year, the business earned $2.10 EPS. The business’s revenue was up 4.1% on a year-over-year basis. On average, equities analysts forecast that Avery Dennison Co. will post 9.42 earnings per share for the current year.

Avery Dennison Announces Dividend

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 paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date of this dividend is Wednesday, December 4th. Avery Dennison’s payout ratio is 42.26%.

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.