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

Icon Wealth Advisors LLC grew its holdings in Avery Dennison Co. (NYSE:AVY) by 553.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,137 shares of the industrial products company’s stock after purchasing 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 filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Innealta Capital LLC acquired a new position in Avery Dennison in the second quarter worth $28,000. Kennebec Savings Bank acquired a new position in Avery Dennison in the third quarter worth $36,000. Peterson Financial Group Inc. acquired a new position in Avery Dennison in the third quarter worth $39,000. Ashton Thomas Private Wealth LLC acquired a new position in Avery Dennison in the second quarter worth $42,000. Finally, 1620 Investment Advisors Inc. acquired a new position in Avery Dennison in the second quarter worth $51,000. Institutional investors and hedge funds own 94.17% of the company’s stock.

Avery Dennison Stock Up 1.5 %

Shares of Avery Dennison stock opened at $202.59 on Friday. Avery Dennison Co. has a 1 year low of $187.93 and a 1 year high of $233.48. The business has a 50-day moving average of $211.12 and a two-hundred day moving average of $216.94. The company has a market capitalization of $16.28 billion, a P/E ratio of 24.32, a price-to-earnings-growth ratio of 1.51 and a beta of 0.89. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.92 and a quick ratio of 0.62.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.32 by $0.01. The company had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.20 billion. Avery Dennison had a return on equity of 33.01% and a net margin of 7.76%. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period in the prior year, the company earned $2.10 earnings per share. As a group, equities analysts predict 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 dividend of $0.88 per share. 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 payout ratio is presently 42.26%.

Analysts Set New Price Targets

AVY has been the topic of a number of recent analyst reports. Bank of America raised Avery Dennison from an “underperform” rating to a “buy” rating and boosted their price objective for the stock from $207.00 to $250.00 in a research note on Thursday, October 17th. StockNews.com lowered Avery Dennison from a “buy” rating to a “hold” rating in a research note on Thursday, October 24th. JPMorgan Chase & Co. lowered Avery Dennison from an “overweight” rating to a “neutral” rating and cut their price target for the company from $230.00 to $210.00 in a research note on Thursday, October 24th. Citigroup cut their price target on Avery Dennison from $241.00 to $240.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 2nd. Finally, Barclays cut their price target on Avery Dennison from $250.00 to $245.00 and set an “overweight” rating on the stock in a research note on Monday, October 28th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock presently 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.