Eads & Heald Wealth Management Has $1.72 Million Holdings in Avery Dennison Co. (NYSE:AVY)

Eads & Heald Wealth Management cut its stake in Avery Dennison Co. (NYSE:AVY) by 5.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,767 shares of the industrial products company’s stock after selling 458 shares during the period. Eads & Heald Wealth Management’s holdings in Avery Dennison were worth $1,715,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of AVY. Swedbank AB bought a new stake in shares of Avery Dennison in the first quarter valued at about $102,117,000. Jennison Associates LLC acquired a new position in Avery Dennison in the 1st quarter valued at approximately $44,837,000. National Bank of Canada FI lifted its position in shares of Avery Dennison by 795.2% in the 2nd quarter. National Bank of Canada FI now owns 160,248 shares of the industrial products company’s stock worth $34,190,000 after acquiring an additional 142,348 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in shares of Avery Dennison by 179.5% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 216,135 shares of the industrial products company’s stock worth $47,258,000 after purchasing an additional 138,808 shares in the last quarter. Finally, Bahl & Gaynor Inc. increased its position in shares of Avery Dennison by 51.9% during the second quarter. Bahl & Gaynor Inc. now owns 240,096 shares of the industrial products company’s stock valued at $52,497,000 after purchasing an additional 81,993 shares during the period. 94.17% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently commented on AVY shares. Barclays reduced 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. Citigroup reduced their price objective on shares of Avery Dennison from $241.00 to $240.00 and set a “neutral” rating for the company in a report on Wednesday, October 2nd. UBS Group cut shares of Avery Dennison from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $262.00 to $235.00 in a research report on Thursday, July 25th. Stifel Nicolaus started coverage on shares of Avery Dennison in a research report on Tuesday, July 9th. They issued a “buy” rating and a $274.60 price target on the stock. Finally, StockNews.com lowered shares of Avery Dennison from a “buy” rating to a “hold” rating in a report on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $244.96.

Avery Dennison Stock Down 0.4 %

NYSE:AVY opened at $206.19 on Friday. The company has a market cap of $16.57 billion, a price-to-earnings ratio of 24.75, a P/E/G ratio of 1.60 and a beta of 0.88. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.62 and a current ratio of 0.92. The stock’s fifty day moving average price is $215.91 and its two-hundred day moving average price is $218.19. Avery Dennison Co. has a 52-week low of $175.10 and a 52-week high of $233.48.

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, beating the consensus estimate of $2.32 by $0.01. The business had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.20 billion. Avery Dennison had a return on equity of 33.01% and a net margin of 7.76%. The firm’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.10 earnings per share. On average, analysts anticipate that Avery Dennison Co. will post 9.41 EPS for the current year.

Avery Dennison Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 1.71%. The ex-dividend date of this dividend is Wednesday, December 4th. Avery Dennison’s dividend payout ratio is 42.26%.

Insider Buying and Selling

In other Avery Dennison news, Chairman Mitchell R. Butier sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $205.76, for a total value of $617,280.00. Following the transaction, the chairman now directly owns 304,114 shares of the company’s stock, valued at approximately $62,574,496.64. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Chairman Mitchell R. Butier sold 3,000 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $205.76, for a total value of $617,280.00. Following the transaction, the chairman now owns 304,114 shares of the company’s stock, valued at $62,574,496.64. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Mitchell R. Butier sold 10,000 shares of Avery Dennison stock in a transaction on Friday, August 16th. The stock was sold at an average price of $211.91, for a total value of $2,119,100.00. Following the sale, the chairman now directly owns 304,114 shares of the company’s stock, valued at approximately $64,444,797.74. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 49,108 shares of company stock valued at $10,407,587 over the last ninety days. Insiders own 1.10% of the company’s stock.

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.