Boston Private Wealth LLC Purchases 161 Shares of Avery Dennison Co. (NYSE:AVY)

Boston Private Wealth LLC grew its position in shares of Avery Dennison Co. (NYSE:AVY) by 12.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,455 shares of the industrial products company’s stock after purchasing an additional 161 shares during the quarter. Boston Private Wealth LLC’s holdings in Avery Dennison were worth $301,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Spire Wealth Management increased its position in shares of Avery Dennison by 64.0% during the 3rd quarter. Spire Wealth Management now owns 123 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 48 shares during the last quarter. GeoWealth Management LLC bought a new position in shares of Avery Dennison during the 2nd quarter valued at about $56,000. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. purchased a new stake in Avery Dennison during the 2nd quarter valued at about $78,000. Private Capital Group LLC boosted its holdings in Avery Dennison by 32.1% during the 3rd quarter. Private Capital Group LLC now owns 457 shares of the industrial products company’s stock valued at $95,000 after acquiring an additional 111 shares during the period. Finally, Dark Forest Capital Management LP purchased a new stake in Avery Dennison during the 2nd quarter valued at about $105,000. Hedge funds and other institutional investors own 87.28% of the company’s stock.

In other news, VP Deena Baker-Nel sold 1,400 shares of the firm’s stock in a transaction that occurred on Friday, October 29th. The stock was sold at an average price of $217.00, for a total value of $303,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Bradley A. Alford sold 6,318 shares of the firm’s stock in a transaction that occurred on Friday, November 5th. The shares were sold at an average price of $225.58, for a total value of $1,425,214.44. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

NYSE AVY opened at $209.08 on Friday. Avery Dennison Co. has a fifty-two week low of $147.40 and a fifty-two week high of $229.24. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.73 and a current ratio of 1.06. The stock has a 50 day simple moving average of $214.19 and a two-hundred day simple moving average of $214.10. The stock has a market cap of $17.31 billion, a P/E ratio of 23.41, a price-to-earnings-growth ratio of 3.10 and a beta of 1.00.

Avery Dennison (NYSE:AVY) last released its quarterly earnings data on Tuesday, October 26th. The industrial products company reported $2.14 earnings per share for the quarter, topping the consensus estimate of $2.04 by $0.10. Avery Dennison had a return on equity of 46.22% and a net margin of 9.12%. The business had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $2 billion. During the same quarter last year, the business posted $1.91 EPS. The business’s revenue was up 19.8% on a year-over-year basis. Sell-side analysts predict that Avery Dennison Co. will post 8.94 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 15th. Stockholders of record on Wednesday, December 1st were paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date of this dividend was Tuesday, November 30th. Avery Dennison’s payout ratio is presently 30.46%.

Several brokerages recently weighed in on AVY. UBS Group increased their target price on Avery Dennison from $232.00 to $234.00 and gave the company a “neutral” rating in a report on Tuesday, January 4th. Raymond James began coverage on Avery Dennison in a report on Tuesday, November 23rd. They set an “outperform” rating and a $240.00 target price for the company. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $229.73.

Avery Dennison Profile

Avery Dennison Corp. engages in the provision of labeling and packaging materials and solutions. It operates through the following segments: Label & Graphic Materials, Retail Branding & Information Solutions and Industrial & Healthcare Materials. The Label and Graphic Materials segment manufactures and sells Fasson, JAC, and Avery Dennison-brand pressure-sensitive label and packaging materials, Avery Dennison and Mactac brand graphics, and Avery Dennison brand reflective products.

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

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