Virtu Financial LLC Invests $381,000 in Avery Dennison Co. (NYSE:AVY)

Virtu Financial LLC bought a new stake in Avery Dennison Co. (NYSE:AVYFree Report) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 1,727 shares of the industrial products company’s stock, valued at approximately $381,000.

Several other large investors have also recently added to or reduced their stakes in the business. Fifth Third Bancorp grew its stake in shares of Avery Dennison by 28.7% during the 2nd quarter. Fifth Third Bancorp now owns 3,487 shares of the industrial products company’s stock valued at $762,000 after buying an additional 777 shares during the period. 1620 Investment Advisors Inc. purchased a new stake in Avery Dennison during the second quarter valued at about $51,000. GYL Financial Synergies LLC increased its stake in Avery Dennison by 17.0% during the second quarter. GYL Financial Synergies LLC now owns 1,233 shares of the industrial products company’s stock worth $270,000 after acquiring an additional 179 shares during the last quarter. JB Capital LLC raised its holdings in shares of Avery Dennison by 9.6% in the 2nd quarter. JB Capital LLC now owns 13,645 shares of the industrial products company’s stock worth $2,984,000 after purchasing an additional 1,200 shares during the period. Finally, Raymond James Trust N.A. lifted its stake in shares of Avery Dennison by 1.8% in the 2nd quarter. Raymond James Trust N.A. now owns 7,174 shares of the industrial products company’s stock valued at $1,569,000 after purchasing an additional 127 shares in the last quarter. 94.17% of the stock is currently owned by hedge funds and other institutional investors.

Avery Dennison Price Performance

Shares of NYSE AVY opened at $192.92 on Tuesday. 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 Co. has a fifty-two week low of $192.82 and a fifty-two week high of $233.48. The business has a 50 day moving average price of $206.51 and a two-hundred day moving average price of $214.25. The firm has a market cap of $15.50 billion, a PE ratio of 23.43, a price-to-earnings-growth ratio of 1.52 and a beta of 0.87.

Avery Dennison (NYSE:AVYGet Free Report) 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 net margin of 7.76% and a return on equity of 33.01%. The business had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.20 billion. During the same quarter in the previous year, the firm earned $2.10 earnings per share. The business’s revenue was up 4.1% compared to the same quarter last year. Sell-side analysts expect that Avery Dennison Co. will post 9.42 earnings per share for the current fiscal 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 given a dividend of $0.88 per share. The ex-dividend date is Wednesday, December 4th. This represents a $3.52 annualized dividend and a dividend yield of 1.82%. Avery Dennison’s payout ratio is 42.26%.

Insider Buying and Selling

In related news, SVP Nicholas Colisto sold 3,679 shares of the firm’s 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 directly owns 7,126 shares in the company, valued at $1,467,956. This trade represents a 34.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on AVY. Barclays dropped their target price on shares of 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 cut their target price on shares of Avery Dennison from $241.00 to $240.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 2nd. StockNews.com cut shares of Avery Dennison from a “buy” rating to a “hold” rating in a research report on Thursday, October 24th. Bank of America raised Avery Dennison from an “underperform” rating to a “buy” rating and raised their price objective for the company from $207.00 to $250.00 in a research report on Thursday, October 17th. Finally, JPMorgan Chase & Co. downgraded Avery Dennison from an “overweight” rating to a “neutral” rating and decreased their target price 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 given a buy rating to the company’s stock. Based on data from MarketBeat.com, Avery Dennison currently has an average rating of “Moderate Buy” and an average target price of $244.96.

View Our Latest Stock Analysis on Avery Dennison

Avery Dennison Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Avery Dennison (NYSE:AVY)

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