Avery Dennison Co. (NYSE:AVY) Shares Acquired by SYSTM Wealth Solutions LLC

SYSTM Wealth Solutions LLC raised its holdings in shares of Avery Dennison Co. (NYSE:AVY) by 1.3% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 30,515 shares of the industrial products company’s stock after buying an additional 400 shares during the period. Avery Dennison comprises approximately 1.5% of SYSTM Wealth Solutions LLC’s investment portfolio, making the stock its 14th biggest position. SYSTM Wealth Solutions LLC’s holdings in Avery Dennison were worth $6,672,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Innealta Capital LLC bought a new stake in Avery Dennison during the second quarter worth approximately $28,000. Ashton Thomas Private Wealth LLC bought a new stake in Avery Dennison during the second quarter worth approximately $42,000. 1620 Investment Advisors Inc. bought a new stake in Avery Dennison during the second quarter worth approximately $51,000. Palisade Asset Management LLC bought a new stake in Avery Dennison during the first quarter worth approximately $64,000. Finally, Versant Capital Management Inc boosted its holdings in Avery Dennison by 936.7% during the second quarter. Versant Capital Management Inc now owns 311 shares of the industrial products company’s stock worth $68,000 after buying an additional 281 shares in the last quarter. 94.17% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on AVY shares. Stifel Nicolaus assumed coverage on shares of Avery Dennison in a report on Tuesday, July 9th. They set a “buy” rating and a $274.60 target price for the company. Truist Financial raised their price objective on shares of Avery Dennison from $253.00 to $258.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. BMO Capital Markets decreased their price objective on shares of Avery Dennison from $256.00 to $254.00 and set an “outperform” rating for the company in a research note on Wednesday, July 24th. Robert W. Baird raised their price objective on shares of Avery Dennison from $230.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, June 7th. Finally, UBS Group lowered shares of Avery Dennison from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $262.00 to $235.00 in a research note on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Avery Dennison has an average rating of “Moderate Buy” and an average price target of $239.96.

Insider Activity

In other news, Chairman Mitchell R. Butier sold 7,108 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $218.12, for a total transaction of $1,550,396.96. Following the transaction, the chairman now owns 304,114 shares in the company, valued at approximately $66,333,345.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Chairman Mitchell R. Butier sold 10,000 shares of Avery Dennison stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $213.75, for a total value of $2,137,500.00. Following the transaction, the chairman now owns 304,114 shares in the company, valued at approximately $65,004,367.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Mitchell R. Butier sold 7,108 shares of Avery Dennison stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $218.12, for a total transaction of $1,550,396.96. Following the completion of the transaction, the chairman now owns 304,114 shares in the company, valued at approximately $66,333,345.68. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 59,108 shares of company stock worth $12,545,087. 1.10% of the stock is owned by corporate insiders.

Avery Dennison Trading Down 0.4 %

Shares of NYSE:AVY opened at $220.20 on Wednesday. The firm has a fifty day moving average of $215.93 and a two-hundred day moving average of $218.92. The firm has a market capitalization of $17.74 billion, a P/E ratio of 32.15, a price-to-earnings-growth ratio of 1.81 and a beta of 0.88. Avery Dennison Co. has a 12-month low of $165.21 and a 12-month high of $233.48. The company has a quick ratio of 0.60, a current ratio of 0.90 and a debt-to-equity ratio of 0.89.

Avery Dennison (NYSE:AVY) last issued its earnings results on Tuesday, July 23rd. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.16. The company had revenue of $2.24 billion during the quarter, compared to analyst estimates of $2.18 billion. Avery Dennison had a net margin of 7.34% and a return on equity of 33.44%. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter last year, the business posted $1.92 EPS. On average, equities analysts expect that Avery Dennison Co. will post 9.41 EPS for the current fiscal year.

Avery Dennison Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th will be issued a dividend of $0.88 per share. The ex-dividend date is Wednesday, September 4th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.60%. Avery Dennison’s dividend payout ratio is currently 51.39%.

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.