Avery Dennison Co. (NYSE:AVY) Shares Acquired by Cerity Partners LLC

Cerity Partners LLC grew its stake in shares of Avery Dennison Co. (NYSE:AVY) by 46.3% in the third quarter, according to its most recent filing with the SEC. The fund owned 104,891 shares of the industrial products company’s stock after acquiring an additional 33,210 shares during the period. Cerity Partners LLC owned about 0.13% of Avery Dennison worth $23,156,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Innealta Capital LLC acquired a new position in shares of Avery Dennison in the second quarter worth about $28,000. Kennebec Savings Bank purchased a new position in Avery Dennison during the 3rd quarter worth approximately $36,000. Peterson Financial Group Inc. acquired a new stake in Avery Dennison during the 3rd quarter valued at $39,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Avery Dennison in the second quarter valued at $42,000. Finally, 1620 Investment Advisors Inc. acquired a new stake in shares of Avery Dennison in the second quarter worth $51,000. 94.17% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Avery Dennison Trading Up 1.5 %

Shares of AVY opened at $202.59 on Monday. The stock’s fifty day simple moving average is $210.78 and its 200-day simple moving average is $216.75. The firm has a market capitalization of $16.28 billion, a PE ratio of 24.32, a price-to-earnings-growth ratio of 1.53 and a beta of 0.89. Avery Dennison Co. has a 12-month low of $187.93 and a 12-month high of $233.48. The company has a quick ratio of 0.62, a current ratio of 0.92 and a debt-to-equity ratio of 0.85.

Avery Dennison (NYSE:AVY) last released its earnings results 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. The company had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.20 billion. Avery Dennison had a net margin of 7.76% and a return on equity of 33.01%. The company’s revenue was up 4.1% compared to the same quarter last year. During the same period in the prior year, the company posted $2.10 EPS. As a group, research analysts predict that Avery Dennison Co. will post 9.42 earnings per share for the current year.

Avery Dennison Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be paid a $0.88 dividend. 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 currently 42.26%.

Avery Dennison Company 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.