Davidson & Garrard Inc. purchased a new stake in Avery Dennison Corporation (NYSE:AVY) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 2,050 shares of the industrial products company’s stock, valued at approximately $202,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Comerica Bank grew its position in shares of Avery Dennison Corporation by 3.4% in the 3rd quarter. Comerica Bank now owns 46,668 shares of the industrial products company’s stock valued at $4,916,000 after buying an additional 1,540 shares during the last quarter. DekaBank Deutsche Girozentrale grew its position in shares of Avery Dennison Corporation by 11.1% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 63,085 shares of the industrial products company’s stock valued at $6,013,000 after buying an additional 6,303 shares during the last quarter. Miller Investment Management LP bought a new stake in shares of Avery Dennison Corporation in the 3rd quarter valued at about $219,000. Teacher Retirement System of Texas grew its position in shares of Avery Dennison Corporation by 54.0% in the 3rd quarter. Teacher Retirement System of Texas now owns 97,540 shares of the industrial products company’s stock valued at $9,592,000 after buying an additional 34,198 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. grew its position in shares of Avery Dennison Corporation by 5.6% in the 3rd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 557,404 shares of the industrial products company’s stock valued at $54,815,000 after buying an additional 29,786 shares during the last quarter. Hedge funds and other institutional investors own 86.43% of the company’s stock.

Shares of Avery Dennison Corporation (AVY) traded up $0.23 during trading on Wednesday, hitting $108.17. The company had a trading volume of 480,200 shares, compared to its average volume of 656,425. Avery Dennison Corporation has a 52 week low of $69.53 and a 52 week high of $108.99. The company has a current ratio of 1.13, a quick ratio of 0.82 and a debt-to-equity ratio of 1.14. The company has a market cap of $9,520.00, a price-to-earnings ratio of 23.11, a price-to-earnings-growth ratio of 3.13 and a beta of 1.22.

Avery Dennison Corporation (NYSE:AVY) last posted its quarterly earnings results on Wednesday, October 25th. The industrial products company reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.05. Avery Dennison Corporation had a return on equity of 40.52% and a net margin of 6.27%. The business had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same period in the prior year, the business earned $1.01 EPS. The firm’s revenue for the quarter was up 11.3% on a year-over-year basis. analysts predict that Avery Dennison Corporation will post 4.93 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 20th. Investors of record on Wednesday, December 6th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date is Tuesday, December 5th. Avery Dennison Corporation’s dividend payout ratio (DPR) is currently 40.18%.

A number of equities research analysts have commented on the company. Zacks Investment Research upgraded Avery Dennison Corporation from a “hold” rating to a “buy” rating and set a $120.00 price target on the stock in a research report on Tuesday, November 7th. Barclays PLC upped their target price on Avery Dennison Corporation from $105.00 to $120.00 and gave the company an “overweight” rating in a research report on Monday, October 30th. KeyCorp restated a “hold” rating on shares of Avery Dennison Corporation in a research report on Monday, October 30th. Robert W. Baird restated a “buy” rating and set a $115.00 target price on shares of Avery Dennison Corporation in a research report on Friday, October 27th. Finally, Loop Capital upped their target price on Avery Dennison Corporation from $99.00 to $106.00 and gave the company a “hold” rating in a research report on Thursday, October 26th. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $105.71.

In related news, VP Deon Stander sold 6,400 shares of the company’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $107.64, for a total transaction of $688,896.00. Following the transaction, the vice president now directly owns 9,426 shares of the company’s stock, valued at approximately $1,014,614.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Susan C. Miller sold 6,518 shares of the company’s stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $105.17, for a total value of $685,498.06. Following the transaction, the vice president now directly owns 13,409 shares in the company, valued at $1,410,224.53. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 140,047 shares of company stock worth $14,824,481. 1.40% of the stock is owned by company insiders.

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Avery Dennison Corporation Company Profile

Avery Dennison Corporation (Avery Dennison) is engaged in the production of pressure-sensitive materials and a range of tickets, tags, labels and other converted products. The Company’s segments include Label and Graphic Materials (LGM); Retail Branding and Information Solutions (RBIS), and Industrial and Healthcare Materials (IHM).

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

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