OneDigital Investment Advisors LLC Purchases New Shares in Avery Dennison Co. (NYSE:AVY)

OneDigital Investment Advisors LLC purchased a new position in shares of Avery Dennison Co. (NYSE:AVY) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 937 shares of the industrial products company’s stock, valued at approximately $207,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Intech Investment Management LLC increased its position in shares of Avery Dennison by 3.3% during the second quarter. Intech Investment Management LLC now owns 1,559 shares of the industrial products company’s stock worth $341,000 after acquiring an additional 50 shares during the last quarter. Procyon Advisors LLC grew its stake in Avery Dennison by 4.0% during the 3rd quarter. Procyon Advisors LLC now owns 1,442 shares of the industrial products company’s stock valued at $319,000 after purchasing an additional 56 shares in the last quarter. Bailard Inc. increased its holdings in Avery Dennison by 0.5% during the 2nd quarter. Bailard Inc. now owns 12,202 shares of the industrial products company’s stock worth $2,668,000 after purchasing an additional 61 shares during the last quarter. Legacy Wealth Asset Management LLC raised its position in shares of Avery Dennison by 4.5% in the 3rd quarter. Legacy Wealth Asset Management LLC now owns 1,479 shares of the industrial products company’s stock valued at $327,000 after purchasing an additional 64 shares in the last quarter. Finally, Baker Avenue Asset Management LP raised its position in shares of Avery Dennison by 7.1% in the 3rd quarter. Baker Avenue Asset Management LP now owns 1,041 shares of the industrial products company’s stock valued at $230,000 after purchasing an additional 69 shares in the last quarter. Institutional investors and hedge funds own 94.17% of the company’s stock.

Avery Dennison Stock Performance

Shares of AVY stock opened at $202.59 on Friday. The company has a quick ratio of 0.62, a current ratio of 0.92 and a debt-to-equity ratio of 0.85. The business has a 50 day moving average of $210.78 and a two-hundred day moving average of $216.80. The company has a market cap of $16.28 billion, a P/E ratio of 24.32, a PEG ratio of 1.53 and a beta of 0.89. Avery Dennison Co. has a 52 week low of $187.93 and a 52 week high of $233.48.

Avery Dennison (NYSE:AVY) last released 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 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 posted $2.10 EPS. The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. As a group, analysts anticipate that Avery Dennison Co. will post 9.42 EPS for the current year.

Avery Dennison Announces Dividend

The company 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 $0.88 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.74%. Avery Dennison’s dividend payout ratio (DPR) is presently 42.26%.

Analyst Ratings Changes

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

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.