Charles Schwab Investment Management Inc. Boosts Stake in Avery Dennison Co. (NYSE:AVY)

Charles Schwab Investment Management Inc. lifted its holdings in Avery Dennison Co. (NYSE:AVY) by 0.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 688,417 shares of the industrial products company’s stock after acquiring an additional 1,782 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.86% of Avery Dennison worth $151,975,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Intech Investment Management LLC increased its stake in Avery Dennison by 3.3% during the 2nd quarter. Intech Investment Management LLC now owns 1,559 shares of the industrial products company’s stock worth $341,000 after buying an additional 50 shares during the period. Empirical Finance LLC grew its position in shares of Avery Dennison by 2.0% during the third quarter. Empirical Finance LLC now owns 2,822 shares of the industrial products company’s stock worth $623,000 after buying an additional 55 shares in the last quarter. Procyon Advisors LLC increased its position in shares of Avery Dennison by 4.0% in the 3rd quarter. Procyon Advisors LLC now owns 1,442 shares of the industrial products company’s stock worth $319,000 after purchasing an additional 56 shares during the last quarter. Lindenwold Advisors INC lifted its position in shares of Avery Dennison by 0.6% during the third quarter. Lindenwold Advisors INC now owns 10,266 shares of the industrial products company’s stock worth $2,266,000 after purchasing an additional 59 shares during the last quarter. Finally, Bailard Inc. grew its stake in Avery Dennison by 0.5% in the second 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 in the last quarter. 94.17% of the stock is owned by hedge funds and other institutional investors.

Avery Dennison Stock Up 1.5 %

Avery Dennison stock opened at $202.59 on Monday. Avery Dennison Co. has a twelve month low of $187.93 and a twelve month 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. The firm has a market cap of $16.28 billion, a PE ratio of 24.32, a P/E/G ratio of 1.53 and a beta of 0.89. The firm’s 50 day moving average price is $210.78 and its two-hundred day moving average price is $216.75.

Avery Dennison (NYSE:AVY) last released its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share for the quarter, beating analysts’ consensus estimates of $2.32 by $0.01. The business 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%. Avery Dennison’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter last year, the firm earned $2.10 EPS. On average, research analysts predict that Avery Dennison Co. will post 9.42 EPS for the current fiscal 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 dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 1.74%. The ex-dividend date is Wednesday, December 4th. Avery Dennison’s dividend payout ratio is currently 42.26%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Barclays dropped their price target on Avery Dennison from $250.00 to $245.00 and set an “overweight” rating on the stock in a research report on Monday, October 28th. JPMorgan Chase & Co. lowered Avery Dennison from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $230.00 to $210.00 in a report on Thursday, October 24th. 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. Finally, Bank of America upgraded shares of Avery Dennison from an “underperform” rating to a “buy” rating and raised their target price for the stock 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 given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus 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.