Avery Dennison Co. (NYSE:AVY) Shares Acquired by BNP PARIBAS ASSET MANAGEMENT Holding S.A.

BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in shares of Avery Dennison Co. (NYSE:AVY) by 5.5% during the third quarter, HoldingsChannel.com reports. The fund owned 227,919 shares of the industrial products company’s stock after buying an additional 11,784 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Avery Dennison were worth $50,315,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Victory Capital Management Inc. grew its position in shares of Avery Dennison by 6.8% in the third quarter. Victory Capital Management Inc. now owns 1,416,798 shares of the industrial products company’s stock valued at $312,772,000 after purchasing an additional 90,250 shares in the last quarter. Boston Partners boosted its stake in Avery Dennison by 3.6% during the first quarter. Boston Partners now owns 1,019,802 shares of the industrial products company’s stock worth $227,660,000 after buying an additional 35,538 shares during the last quarter. Meridiem Investment Management Ltd. grew its holdings in Avery Dennison by 0.7% in the 3rd quarter. Meridiem Investment Management Ltd. now owns 794,092 shares of the industrial products company’s stock valued at $175,261,000 after buying an additional 5,756 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Avery Dennison by 4.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 787,716 shares of the industrial products company’s stock worth $172,254,000 after acquiring an additional 32,467 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Avery Dennison by 2.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 646,223 shares of the industrial products company’s stock worth $141,297,000 after acquiring an additional 17,158 shares during the period. Hedge funds and other institutional investors own 94.17% of the company’s stock.

Avery Dennison Stock Performance

NYSE AVY opened at $199.12 on Friday. The company has a market cap of $16.00 billion, a P/E ratio of 23.90, a P/E/G ratio of 1.51 and a beta of 0.89. Avery Dennison Co. has a 1-year low of $187.93 and a 1-year high of $233.48. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.92 and a quick ratio of 0.62. The stock has a 50-day moving average of $211.50 and a two-hundred day moving average of $217.06.

Avery Dennison (NYSE:AVY) last announced its earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share for the quarter, topping the consensus estimate of $2.32 by $0.01. Avery Dennison had a net margin of 7.76% and a return on equity of 33.01%. The firm had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.20 billion. During the same period in the prior year, the firm earned $2.10 EPS. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. As a group, analysts anticipate that Avery Dennison Co. will post 9.42 EPS for the current year.

Avery Dennison Dividend Announcement

The business also recently announced 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 yield of 1.77%. Avery Dennison’s dividend payout ratio (DPR) is presently 42.26%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Barclays cut their price objective 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. JPMorgan Chase & Co. cut Avery Dennison from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $230.00 to $210.00 in a report on Thursday, October 24th. StockNews.com cut Avery Dennison from a “buy” rating to a “hold” rating in a research note on Thursday, October 24th. BMO Capital Markets decreased their price target on Avery Dennison from $252.00 to $247.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Finally, UBS Group downgraded Avery Dennison from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $262.00 to $235.00 in a research report on Thursday, July 25th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $244.96.

About Avery Dennison

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.