HPM Partners LLC Buys 1,587 Shares of Avery Dennison Corp (AVY)

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HPM Partners LLC grew its stake in shares of Avery Dennison Corp (NYSE:AVY) by 21.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,984 shares of the industrial products company’s stock after purchasing an additional 1,587 shares during the quarter. HPM Partners LLC’s holdings in Avery Dennison were worth $973,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. boosted its position in shares of Avery Dennison by 48.7% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 10,167 shares of the industrial products company’s stock worth $1,038,000 after buying an additional 3,330 shares during the period. State of Wisconsin Investment Board boosted its position in shares of Avery Dennison by 3.8% during the second quarter. State of Wisconsin Investment Board now owns 92,911 shares of the industrial products company’s stock worth $9,486,000 after buying an additional 3,415 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in shares of Avery Dennison during the second quarter worth approximately $941,000. Sei Investments Co. boosted its position in shares of Avery Dennison by 85.9% during the second quarter. Sei Investments Co. now owns 54,295 shares of the industrial products company’s stock worth $5,543,000 after buying an additional 25,085 shares during the period. Finally, Boston Partners acquired a new position in shares of Avery Dennison during the second quarter worth approximately $1,171,000. 83.97% of the stock is owned by institutional investors.

Shares of NYSE:AVY opened at $89.60 on Wednesday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.71 and a current ratio of 1.00. Avery Dennison Corp has a 12-month low of $86.06 and a 12-month high of $123.67. The firm has a market cap of $7.73 billion, a price-to-earnings ratio of 17.92, a PEG ratio of 2.11 and a beta of 1.38.

Avery Dennison (NYSE:AVY) last announced its earnings results on Tuesday, October 23rd. The industrial products company reported $1.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.47 by ($0.02). Avery Dennison had a net margin of 4.36% and a return on equity of 49.86%. The firm had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.75 billion. During the same period last year, the firm earned $1.26 earnings per share. Avery Dennison’s revenue for the quarter was up 4.8% compared to the same quarter last year. On average, sell-side analysts forecast that Avery Dennison Corp will post 6.04 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 19th. Shareholders of record on Wednesday, December 5th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 2.32%. The ex-dividend date is Tuesday, December 4th. Avery Dennison’s dividend payout ratio (DPR) is currently 41.60%.

In other Avery Dennison news, Director David E. I. Pyott sold 2,000 shares of the business’s stock in a transaction on Tuesday, November 27th. The shares were sold at an average price of $93.00, for a total transaction of $186,000.00. Following the sale, the director now directly owns 17,293 shares of the company’s stock, valued at approximately $1,608,249. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.30% of the stock is owned by insiders.

AVY has been the subject of a number of research analyst reports. Zacks Investment Research upgraded Avery Dennison from a “sell” rating to a “hold” rating in a research report on Wednesday, November 21st. ValuEngine upgraded Avery Dennison from a “sell” rating to a “hold” rating in a research report on Wednesday, December 5th. Loop Capital set a $124.00 target price on Avery Dennison and gave the stock a “buy” rating in a research report on Thursday, October 11th. Barclays cut their price objective on Avery Dennison from $135.00 to $130.00 and set an “overweight” rating for the company in a research report on Monday, October 29th. Finally, Citigroup cut their price objective on Avery Dennison from $128.00 to $122.00 and set a “buy” rating for the company in a research report on Wednesday, October 24th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $120.25.

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Avery Dennison Company 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. It also offers durable cast and reflective films.

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Institutional Ownership by Quarter for Avery Dennison (NYSE:AVY)

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