Woodmont Investment Counsel LLC Makes New $2.01 Million Investment in Avery Dennison Corporation $AVY

Woodmont Investment Counsel LLC purchased a new position in shares of Avery Dennison Corporation (NYSE:AVY) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 12,402 shares of the industrial products company’s stock, valued at approximately $2,011,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Avery Dennison by 0.6% during the second quarter. Vanguard Group Inc. now owns 10,017,906 shares of the industrial products company’s stock worth $1,757,842,000 after acquiring an additional 58,643 shares during the period. State Street Corp lifted its stake in shares of Avery Dennison by 0.6% in the second quarter. State Street Corp now owns 3,646,614 shares of the industrial products company’s stock valued at $639,871,000 after purchasing an additional 23,309 shares during the period. Invesco Ltd. boosted its holdings in Avery Dennison by 2.6% during the second quarter. Invesco Ltd. now owns 1,582,590 shares of the industrial products company’s stock worth $277,697,000 after buying an additional 40,803 shares in the last quarter. Norges Bank acquired a new position in Avery Dennison during the second quarter worth about $174,425,000. Finally, Massachusetts Financial Services Co. MA increased its holdings in Avery Dennison by 2.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 967,013 shares of the industrial products company’s stock valued at $156,820,000 after buying an additional 27,451 shares in the last quarter. 94.17% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on AVY. BMO Capital Markets reaffirmed an “outperform” rating and issued a $210.00 price target on shares of Avery Dennison in a report on Thursday, October 23rd. Citigroup upped their target price on Avery Dennison from $180.00 to $188.00 and gave the company a “neutral” rating in a research note on Tuesday, January 6th. JPMorgan Chase & Co. raised Avery Dennison from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $182.00 to $195.00 in a research report on Thursday, October 23rd. Argus set a $200.00 price objective on Avery Dennison in a research report on Tuesday, October 28th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Avery Dennison in a research report on Monday, December 29th. Nine investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Avery Dennison has an average rating of “Moderate Buy” and a consensus price target of $204.36.

Avery Dennison Price Performance

Shares of NYSE:AVY opened at $185.51 on Monday. The company has a market cap of $14.34 billion, a P/E ratio of 21.10, a P/E/G ratio of 3.12 and a beta of 1.00. The business has a fifty day simple moving average of $181.50 and a 200-day simple moving average of $174.00. Avery Dennison Corporation has a 52 week low of $156.23 and a 52 week high of $190.45. The company has a quick ratio of 0.89, a current ratio of 1.26 and a debt-to-equity ratio of 1.45.

Avery Dennison Company Profile

Avery Dennison (NYSE:AVY) is a global materials science and manufacturing company specializing in labeling and packaging solutions. The company develops pressure-sensitive materials, tags and labels, and adhesive technologies that help brands and businesses enhance product identification, branding and supply-chain performance. Avery Dennison’s offerings range from industrial and retail labeling to high-performance tapes, films and graphics materials used across multiple end markets.

The company operates through several key segments, including Label and Graphic Materials, which supplies pressure-sensitive materials for consumer goods; Retail Branding and Information Solutions, offering apparel tags, RFID inlays and digital product identification; Pressure-Sensitive Materials, providing specialty tapes and adhesives; and RF Technologies, focused on advanced RFID and IoT labeling solutions.