Icon Wealth Advisors LLC Purchases 2,657 Shares of Avery Dennison Co. (NYSE:AVY)

Icon Wealth Advisors LLC boosted its stake in shares of Avery Dennison Co. (NYSE:AVY) by 553.5% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 3,137 shares of the industrial products company’s stock after buying an additional 2,657 shares during the quarter. Icon Wealth Advisors LLC’s holdings in Avery Dennison were worth $693,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of AVY. Swedbank AB acquired a new position in Avery Dennison during the first quarter valued at approximately $102,117,000. National Bank of Canada FI boosted its position in Avery Dennison by 795.2% during the second quarter. National Bank of Canada FI now owns 160,248 shares of the industrial products company’s stock valued at $34,190,000 after purchasing an additional 142,348 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in Avery Dennison by 179.5% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 216,135 shares of the industrial products company’s stock valued at $47,258,000 after purchasing an additional 138,808 shares during the last quarter. Victory Capital Management Inc. boosted its position in Avery Dennison by 6.8% during 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 during the last quarter. Finally, Bahl & Gaynor Inc. lifted its position in shares of Avery Dennison by 51.9% in the second quarter. Bahl & Gaynor Inc. now owns 240,096 shares of the industrial products company’s stock valued at $52,497,000 after buying an additional 81,993 shares during the last quarter. 94.17% of the stock is owned by institutional investors and hedge funds.

Avery Dennison Price Performance

Avery Dennison stock opened at $202.59 on Friday. The stock’s fifty day moving average price is $211.12 and its two-hundred day moving average price is $216.94. Avery Dennison Co. has a one year low of $187.93 and a one 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 firm has a market cap of $16.28 billion, a PE ratio of 24.32, a price-to-earnings-growth ratio of 1.51 and a beta of 0.89.

Avery Dennison (NYSE:AVY) last posted its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $2.33 EPS for the quarter, topping 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 firm had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.20 billion. During the same quarter last year, the company earned $2.10 EPS. The company’s revenue was up 4.1% on a year-over-year basis. As a group, research analysts expect that Avery Dennison Co. will post 9.42 EPS for the current fiscal year.

Avery Dennison Announces Dividend

The firm 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. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $3.52 annualized dividend and a dividend yield of 1.74%. Avery Dennison’s payout ratio is 42.26%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on AVY. JPMorgan Chase & Co. cut Avery Dennison from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $230.00 to $210.00 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. Citigroup cut their price objective on Avery Dennison from $241.00 to $240.00 and set a “neutral” rating for the company in a research report on Wednesday, October 2nd. 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 research report on Thursday, October 24th. Finally, StockNews.com cut Avery Dennison from a “buy” rating to a “hold” rating in a report on Thursday, October 24th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus 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.