Massachusetts Financial Services Co. MA Boosts Stock Position in Avery Dennison Co. (NYSE:AVY)

Massachusetts Financial Services Co. MA increased its stake in Avery Dennison Co. (NYSE:AVY) by 0.4% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 699,541 shares of the industrial products company’s stock after purchasing an additional 3,118 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.87% of Avery Dennison worth $154,431,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cetera Investment Advisers increased its position in shares of Avery Dennison by 195.2% during the first quarter. Cetera Investment Advisers now owns 17,863 shares of the industrial products company’s stock valued at $3,988,000 after buying an additional 11,811 shares during the period. SG Americas Securities LLC grew its stake in Avery Dennison by 86.5% during the second quarter. SG Americas Securities LLC now owns 32,538 shares of the industrial products company’s stock valued at $7,114,000 after acquiring an additional 15,092 shares in the last quarter. McElhenny Sheffield Capital Management LLC purchased a new stake in Avery Dennison in the 2nd quarter worth approximately $543,000. Swedbank AB boosted its holdings in Avery Dennison by 1.0% in the 2nd quarter. Swedbank AB now owns 462,083 shares of the industrial products company’s stock valued at $101,034,000 after purchasing an additional 4,673 shares during the period. Finally, Jane Street Group LLC grew its position in shares of Avery Dennison by 11.0% during the 1st quarter. Jane Street Group LLC now owns 47,420 shares of the industrial products company’s stock valued at $10,587,000 after purchasing an additional 4,697 shares in the last quarter. 94.17% of the stock is currently owned by institutional investors.

Avery Dennison Price Performance

Shares of Avery Dennison stock opened at $202.59 on Friday. The stock has a market capitalization of $16.28 billion, a price-to-earnings ratio of 24.32, a price-to-earnings-growth ratio of 1.53 and a beta of 0.89. The company has a fifty day moving average of $210.78 and a 200-day moving average of $216.80. Avery Dennison Co. has a 52-week low of $187.93 and a 52-week high of $233.48. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.62 and a current ratio of 0.92.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $2.20 billion. During the same period last year, the firm earned $2.10 earnings per share. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. Equities research analysts expect that Avery Dennison Co. will post 9.42 EPS for the current year.

Avery Dennison Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date is Wednesday, December 4th. Avery Dennison’s dividend payout ratio (DPR) is presently 42.26%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. JPMorgan Chase & Co. downgraded Avery Dennison from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $230.00 to $210.00 in a research report on Thursday, October 24th. BMO Capital Markets dropped their price target on Avery Dennison from $252.00 to $247.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Citigroup decreased their price objective on shares of Avery Dennison from $241.00 to $240.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 2nd. Bank of America upgraded shares of Avery Dennison from an “underperform” rating to a “buy” rating and lifted their target price for the company from $207.00 to $250.00 in a research report on Thursday, October 17th. Finally, StockNews.com lowered shares of Avery Dennison from a “buy” rating to a “hold” rating in a report on Thursday, October 24th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Avery Dennison presently has a consensus rating of “Moderate Buy” and an average price target of $244.96.

Avery Dennison Profile

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.