Optimum Investment Advisors bought a new stake in Avery Dennison Corporation (NYSE:AVY) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,250 shares of the industrial products company’s stock, valued at approximately $221,000.

Several other hedge funds have also recently made changes to their positions in the company. ETRADE Capital Management LLC boosted its stake in Avery Dennison by 12.8% during the 3rd quarter. ETRADE Capital Management LLC now owns 20,961 shares of the industrial products company’s stock valued at $2,061,000 after acquiring an additional 2,377 shares during the last quarter. Federated Investors Inc. PA boosted its stake in Avery Dennison by 1,038.8% during the 2nd quarter. Federated Investors Inc. PA now owns 99,245 shares of the industrial products company’s stock valued at $8,770,000 after acquiring an additional 90,530 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its stake in Avery Dennison by 24.5% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 501,062 shares of the industrial products company’s stock valued at $44,279,000 after acquiring an additional 98,593 shares during the last quarter. Kings Point Capital Management bought a new position in Avery Dennison during the 2nd quarter valued at $2,831,000. Finally, JPMorgan Chase & Co. boosted its stake in Avery Dennison by 2.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 585,504 shares of the industrial products company’s stock valued at $51,742,000 after acquiring an additional 12,873 shares during the last quarter. Institutional investors and hedge funds own 85.42% of the company’s stock.

Avery Dennison Corporation (AVY) opened at $115.91 on Friday. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.13 and a quick ratio of 0.82. Avery Dennison Corporation has a 52-week low of $69.53 and a 52-week high of $116.13. The stock has a market cap of $10,060.80, a PE ratio of 24.47, a PEG ratio of 3.31 and a beta of 1.24.

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

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 20th. Stockholders of record on Wednesday, December 6th will be given a $0.45 dividend. The ex-dividend date of this dividend is Tuesday, December 5th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.55%. Avery Dennison’s payout ratio is currently 40.18%.

In related news, Director Peter K. Barker sold 2,000 shares of the stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $114.76, for a total value of $229,520.00. Following the sale, the director now owns 26,703 shares of the company’s stock, valued at approximately $3,064,436.28. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Susan C. Miller sold 6,518 shares of the stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $105.17, for a total transaction of $685,498.06. Following the completion of the sale, the vice president now directly owns 13,409 shares in the company, valued at approximately $1,410,224.53. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 154,604 shares of company stock worth $16,475,271. Insiders own 1.40% of the company’s stock.

A number of research analysts have commented on the stock. Zacks Investment Research upgraded shares of Avery Dennison from a “hold” rating to a “buy” rating and set a $120.00 price objective on the stock in a research note on Tuesday, November 7th. Barclays increased their price objective on shares of Avery Dennison from $105.00 to $120.00 and gave the company an “overweight” rating in a research note on Monday, October 30th. KeyCorp reiterated a “hold” rating on shares of Avery Dennison in a research note on Monday, October 30th. Robert W. Baird reiterated a “buy” rating and set a $115.00 price objective on shares of Avery Dennison in a research note on Friday, October 27th. Finally, Loop Capital increased their price objective on shares of Avery Dennison from $99.00 to $106.00 and gave the company a “hold” rating in a research note on Thursday, October 26th. Four equities research 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 company. The company currently has an average rating of “Buy” and a consensus target price of $110.83.

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Avery Dennison 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 (NYSE:AVY)

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