Asset Management One Co. Ltd. Trims Position in Avery Dennison Co. (NYSE:AVY)

Asset Management One Co. Ltd. trimmed its position in Avery Dennison Co. (NYSE:AVY) by 20.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 89,940 shares of the industrial products company’s stock after selling 23,708 shares during the period. Asset Management One Co. Ltd. owned about 0.11% of Avery Dennison worth $19,894,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in AVY. Intech Investment Management LLC lifted its position in Avery Dennison by 3.3% during the second quarter. Intech Investment Management LLC now owns 1,559 shares of the industrial products company’s stock valued at $341,000 after purchasing an additional 50 shares in the last quarter. Procyon Advisors LLC lifted its position in shares of Avery Dennison by 4.0% during the 3rd quarter. Procyon Advisors LLC now owns 1,442 shares of the industrial products company’s stock valued at $319,000 after buying an additional 56 shares in the last quarter. Bailard Inc. grew its stake in shares of Avery Dennison by 0.5% during the 2nd quarter. Bailard Inc. now owns 12,202 shares of the industrial products company’s stock valued at $2,668,000 after acquiring an additional 61 shares during the period. Legacy Wealth Asset Management LLC increased its holdings in Avery Dennison by 4.5% in the 3rd quarter. Legacy Wealth Asset Management LLC now owns 1,479 shares of the industrial products company’s stock worth $327,000 after acquiring an additional 64 shares in the last quarter. Finally, Great Diamond Partners LLC raised its stake in Avery Dennison by 1.7% during the 1st quarter. Great Diamond Partners LLC now owns 4,269 shares of the industrial products company’s stock worth $953,000 after acquiring an additional 72 shares during the period. 94.17% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on AVY shares. Barclays dropped their price target 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. UBS Group lowered Avery Dennison from a “buy” rating to a “neutral” rating and cut their price target for the stock from $262.00 to $235.00 in a research note on Thursday, July 25th. StockNews.com lowered Avery Dennison from a “buy” rating to a “hold” rating in a research note on Thursday, October 24th. Truist Financial lifted their target price on Avery Dennison from $253.00 to $258.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Finally, JPMorgan Chase & Co. downgraded Avery Dennison from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $230.00 to $210.00 in a research note on Thursday, October 24th. Four equities research 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, Avery Dennison currently has an average rating of “Moderate Buy” and a consensus target price of $244.96.

Avery Dennison Trading Up 0.6 %

AVY stock opened at $206.75 on Wednesday. The firm has a fifty day moving average price of $215.45 and a 200 day moving average price of $218.24. Avery Dennison Co. has a fifty-two week low of $176.75 and a fifty-two week high of $233.48. The firm has a market cap of $16.61 billion, a PE ratio of 24.82, a price-to-earnings-growth ratio of 1.58 and a beta of 0.89. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.62 and a current ratio of 0.92.

Avery Dennison (NYSE:AVY) last posted its earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates 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 previous year, the firm posted $2.10 EPS. The business’s quarterly revenue was up 4.1% on a year-over-year basis. Sell-side analysts anticipate that Avery Dennison Co. will post 9.41 earnings per share for the current fiscal year.

Avery Dennison Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date of this dividend is Wednesday, December 4th. Avery Dennison’s dividend payout ratio (DPR) is 42.26%.

Insider Activity

In other Avery Dennison news, Chairman Mitchell R. Butier sold 7,108 shares of Avery Dennison 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 completion of the transaction, the chairman now directly owns 304,114 shares of the company’s stock, valued at $66,333,345.68. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Avery Dennison news, Chairman Mitchell R. Butier sold 3,000 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $206.82, for a total value of $620,460.00. Following the completion of the sale, the chairman now owns 304,114 shares of the company’s stock, valued at $62,896,857.48. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Mitchell R. Butier sold 7,108 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $218.12, for a total value of $1,550,396.96. Following the transaction, the chairman now directly owns 304,114 shares in the company, valued at approximately $66,333,345.68. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 43,108 shares of company stock valued at $9,181,457. 1.10% of the stock is currently owned by insiders.

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.