Townsquare Capital LLC Raises Position in Avery Dennison Co. (NYSE:AVY)

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

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

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on AVY. BMO Capital Markets decreased their target price on shares of Avery Dennison from $252.00 to $247.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. JPMorgan Chase & Co. lowered shares of Avery Dennison from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $230.00 to $210.00 in a research note on Thursday, October 24th. Bank of America raised shares of 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 shares of Avery Dennison from a “buy” rating to a “hold” rating in a research report on Thursday, October 24th. Finally, Citigroup reduced their price target 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 investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $244.96.

Avery Dennison Stock Up 0.3 %

Avery Dennison stock opened at $205.15 on Friday. Avery Dennison Co. has a fifty-two week low of $188.92 and a fifty-two week high of $233.48. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.62 and a current ratio of 0.92. The firm has a 50 day moving average price of $209.91 and a 200 day moving average price of $216.25. The company has a market capitalization of $16.48 billion, a PE ratio of 24.63, a price-to-earnings-growth ratio of 1.60 and a beta of 0.89.

Avery Dennison (NYSE:AVY) last posted its earnings results 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 net margin of 7.76% and a return on equity of 33.01%. The firm had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.20 billion. During the same quarter last year, the firm earned $2.10 EPS. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. Research analysts expect that Avery Dennison Co. will post 9.42 earnings per share for the current year.

Avery Dennison Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be issued a $0.88 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $3.52 annualized dividend and a yield of 1.72%. Avery Dennison’s dividend payout ratio (DPR) is presently 42.26%.

Insider Activity at Avery Dennison

In other Avery Dennison news, SVP Nicholas Colisto sold 3,679 shares of the business’s stock in a transaction 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 completion of the transaction, the senior vice president now owns 7,126 shares in the company, valued at $1,467,956. The trade was a 34.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.10% of the stock is owned by insiders.

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.