RMB Capital Management LLC Boosts Stock Position in Avery Dennison Co. (NYSE:AVY)

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RMB Capital Management LLC increased its stake in Avery Dennison Co. (NYSE:AVY) by 5.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 124,252 shares of the industrial products company’s stock after buying an additional 5,922 shares during the quarter. RMB Capital Management LLC owned about 0.15% of Avery Dennison worth $15,884,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Outlook Wealth Advisors LLC lifted its position in Avery Dennison by 4.5% in the third quarter. Outlook Wealth Advisors LLC now owns 2,850 shares of the industrial products company’s stock worth $364,000 after buying an additional 124 shares during the last quarter. TD Asset Management Inc. lifted its position in Avery Dennison by 23.6% in the third quarter. TD Asset Management Inc. now owns 270,386 shares of the industrial products company’s stock worth $34,566,000 after buying an additional 51,637 shares during the last quarter. Jupiter Asset Management Ltd. bought a new stake in Avery Dennison in the third quarter worth $10,281,000. Shelton Capital Management bought a new stake in Avery Dennison in the third quarter worth $5,825,000. Finally, The Manufacturers Life Insurance Company lifted its position in Avery Dennison by 7.6% in the third quarter. The Manufacturers Life Insurance Company now owns 113,181 shares of the industrial products company’s stock worth $14,468,000 after buying an additional 8,007 shares during the last quarter. Institutional investors own 80.61% of the company’s stock.

In other Avery Dennison news, Director Peter K. Barker sold 10,982 shares of Avery Dennison stock in a transaction dated Friday, October 23rd. The stock was sold at an average price of $142.60, for a total value of $1,566,033.20. Following the transaction, the director now owns 37,478 shares in the company, valued at $5,344,362.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Anne Hill sold 11,427 shares of Avery Dennison stock in a transaction dated Friday, October 23rd. The shares were sold at an average price of $141.53, for a total value of $1,617,263.31. Following the completion of the transaction, the vice president now owns 17,649 shares in the company, valued at approximately $2,497,862.97. The disclosure for this sale can be found here. 1.10% of the stock is owned by insiders.

AVY has been the subject of a number of analyst reports. UBS Group raised their price target on Avery Dennison from $140.00 to $142.00 and gave the stock a “buy” rating in a research report on Tuesday, October 6th. Robert W. Baird lifted their target price on Avery Dennison from $130.00 to $170.00 and gave the stock an “outperform” rating in a research report on Thursday, October 22nd. BMO Capital Markets lifted their target price on Avery Dennison from $129.00 to $155.00 and gave the stock a “market perform” rating in a research report on Thursday, October 22nd. JPMorgan Chase & Co. downgraded Avery Dennison from a “neutral” rating to an “underweight” rating and lifted their target price for the stock from $128.00 to $130.00 in a research report on Thursday, October 22nd. Finally, Morgan Stanley lifted their target price on Avery Dennison from $112.00 to $146.00 and gave the stock an “equal weight” rating in a research report on Friday, October 23rd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $141.73.

Shares of Avery Dennison stock traded up $0.47 during trading on Friday, hitting $147.50. 414,211 shares of the stock traded hands, compared to its average volume of 605,674. The firm has a market cap of $12.30 billion, a P/E ratio of 23.56, a price-to-earnings-growth ratio of 3.35 and a beta of 0.99. The company has a current ratio of 1.31, a quick ratio of 0.94 and a debt-to-equity ratio of 1.51. Avery Dennison Co. has a 52-week low of $76.96 and a 52-week high of $156.82. The stock’s fifty day simple moving average is $138.88 and its 200 day simple moving average is $121.13.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings results on Wednesday, October 21st. The industrial products company reported $1.91 EPS for the quarter, beating the consensus estimate of $1.50 by $0.41. The firm had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.67 billion. Avery Dennison had a return on equity of 44.88% and a net margin of 7.80%. The business’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.66 earnings per share. As a group, equities analysts expect that Avery Dennison Co. will post 6.86 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 16th. Shareholders of record on Wednesday, December 2nd will be paid a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 1.68%. The ex-dividend date is Tuesday, December 1st. This is a positive change from Avery Dennison’s previous quarterly dividend of $0.58. Avery Dennison’s payout ratio is 35.15%.

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, as well as durable cast and reflective films.

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

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