BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 1,982 Shares of Avery Dennison Co. (NYSE:AVY)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp trimmed its position in shares of Avery Dennison Co. (NYSE:AVY) by 12.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,439 shares of the industrial products company’s stock after selling 1,982 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Avery Dennison were worth $2,967,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of AVY. Cetera Investment Advisers boosted its stake in shares of Avery Dennison by 195.2% in the first quarter. Cetera Investment Advisers now owns 17,863 shares of the industrial products company’s stock worth $3,988,000 after acquiring an additional 11,811 shares during the period. SG Americas Securities LLC grew its holdings in Avery Dennison by 86.5% during the 2nd quarter. SG Americas Securities LLC now owns 32,538 shares of the industrial products company’s stock valued at $7,114,000 after buying an additional 15,092 shares in the last quarter. McElhenny Sheffield Capital Management LLC purchased a new position in shares of Avery Dennison in the second quarter worth $543,000. Swedbank AB boosted its position in shares of Avery Dennison by 1.0% during the second quarter. Swedbank AB now owns 462,083 shares of the industrial products company’s stock worth $101,034,000 after acquiring an additional 4,673 shares during the last quarter. Finally, Cetera Advisors LLC increased its holdings in Avery Dennison by 204.2% in the 1st quarter. Cetera Advisors LLC now owns 4,225 shares of the industrial products company’s stock valued at $943,000 after acquiring an additional 2,836 shares during the last quarter. Institutional investors own 94.17% of the company’s stock.

Avery Dennison Stock Performance

Shares of NYSE:AVY opened at $205.11 on Wednesday. The company has a current ratio of 0.92, a quick ratio of 0.62 and a debt-to-equity ratio of 0.85. The company has a market capitalization of $16.48 billion, a price-to-earnings ratio of 24.62, a PEG ratio of 1.58 and a beta of 0.87. Avery Dennison Co. has a 12 month low of $190.04 and a 12 month high of $233.48. The firm’s 50-day moving average is $209.34 and its 200 day moving average is $215.70.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.32 by $0.01. Avery Dennison had a return on equity of 33.01% and a net margin of 7.76%. The firm had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.20 billion. During the same period last year, the company earned $2.10 EPS. Avery Dennison’s quarterly revenue was up 4.1% compared to the same quarter last year. Research analysts predict that Avery Dennison Co. will post 9.42 EPS for the current year.

Avery Dennison Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be issued a dividend of $0.88 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $3.52 dividend on an annualized basis and a yield of 1.72%. Avery Dennison’s payout ratio is 42.26%.

Insider Buying and Selling at Avery Dennison

In other news, SVP Nicholas Colisto sold 3,679 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $206.00, for a total transaction of $757,874.00. Following the transaction, the senior vice president now owns 7,126 shares of the company’s stock, valued at approximately $1,467,956. This represents a 34.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have commented on AVY shares. StockNews.com downgraded shares of Avery Dennison from a “buy” rating to a “hold” rating in a report on Thursday, October 24th. Bank of America raised Avery Dennison from an “underperform” rating to a “buy” rating and increased their price target for the company from $207.00 to $250.00 in a research note on Thursday, October 17th. BMO Capital Markets reduced their price objective on Avery Dennison from $252.00 to $247.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Barclays lowered their target price on Avery Dennison from $250.00 to $245.00 and set an “overweight” rating for the company in a research report on Monday, October 28th. Finally, JPMorgan Chase & Co. cut shares of Avery Dennison from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $230.00 to $210.00 in a research report on Thursday, October 24th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $244.96.

About Avery Dennison

Avery Dennison Corporation operates as a materials science and digital identification solutions company in the United States, Europe, the Middle East, North Africa, Asia, Latin, America, and internationally. It provides pressure-sensitive materials comprising papers, plastic films, metal foils, and fabrics; performance tapes products, including tapes for wire harnessing, as well as cable wrapping for automotive, electrical, and general industrial applications; mechanical fasteners, which are precision-extruded and injection-molded plastic devices used in various automotive, general industrial, and retail applications; and other pressure-sensitive adhesive-based materials and converted products under the Fasson, JAC, Yongle, and Avery Dennison brands.