Versor Investments LP Makes New $715,000 Investment in Avery Dennison Co. (NYSE:AVY)

Versor Investments LP purchased a new stake in Avery Dennison Co. (NYSE:AVY) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund purchased 3,238 shares of the industrial products company’s stock, valued at approximately $715,000.

Other institutional investors have also modified their holdings of the company. Kennebec Savings Bank bought a new position in shares of Avery Dennison during the third quarter valued at approximately $36,000. Baker Avenue Asset Management LP boosted its position in Avery Dennison by 7.1% during the 3rd quarter. Baker Avenue Asset Management LP now owns 1,041 shares of the industrial products company’s stock valued at $230,000 after purchasing an additional 69 shares during the period. Atria Investments Inc increased its position in Avery Dennison by 12.2% in the third quarter. Atria Investments Inc now owns 14,058 shares of the industrial products company’s stock worth $3,103,000 after buying an additional 1,530 shares during the period. JB Capital LLC lifted its stake in Avery Dennison by 11.3% in the third quarter. JB Capital LLC now owns 15,191 shares of the industrial products company’s stock valued at $3,353,000 after buying an additional 1,546 shares during the last quarter. Finally, Olympiad Research LP acquired a new position in shares of Avery Dennison during the third quarter valued at $266,000. Institutional investors own 94.17% of the company’s stock.

Insider Buying and Selling

In related news, Chairman Mitchell R. Butier sold 10,000 shares of Avery Dennison stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $211.91, for a total value of $2,119,100.00. Following the transaction, the chairman now owns 304,114 shares of the company’s stock, valued at approximately $64,444,797.74. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Chairman Mitchell R. Butier sold 10,000 shares of Avery Dennison stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $211.91, for a total value of $2,119,100.00. Following the transaction, the chairman now owns 304,114 shares of the company’s stock, valued at approximately $64,444,797.74. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Mitchell R. Butier sold 7,108 shares of Avery Dennison stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $218.12, for a total value of $1,550,396.96. Following the completion of the transaction, the chairman now directly owns 304,114 shares in the company, valued at $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 quarter, insiders have sold 37,108 shares of company stock valued at $7,940,597. 1.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on AVY. JPMorgan Chase & Co. cut shares of Avery Dennison from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $230.00 to $210.00 in a report on Thursday, October 24th. UBS Group cut Avery Dennison from a “buy” rating to a “neutral” rating and cut their price target for the company from $262.00 to $235.00 in a report on Thursday, July 25th. Truist Financial increased their price objective on Avery Dennison from $253.00 to $258.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. BMO Capital Markets cut their target price on Avery Dennison from $252.00 to $247.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Finally, StockNews.com cut Avery Dennison from a “buy” rating to a “hold” rating in a research note on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Avery Dennison presently has a consensus rating of “Moderate Buy” and an average price target of $244.96.

Avery Dennison Price Performance

Shares of Avery Dennison stock opened at $202.50 on Wednesday. Avery Dennison Co. has a 52 week low of $178.29 and a 52 week high of $233.48. The company has a current ratio of 0.92, a quick ratio of 0.62 and a debt-to-equity ratio of 0.85. The stock has a market cap of $16.27 billion, a PE ratio of 24.31, a price-to-earnings-growth ratio of 1.58 and a beta of 0.89. The company’s 50-day moving average price is $214.22 and its two-hundred day moving average price is $218.01.

Avery Dennison (NYSE:AVY) last issued 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 during the quarter, compared to analysts’ expectations of $2.20 billion. During the same period last year, the firm posted $2.10 earnings per share. The firm’s revenue for the quarter was up 4.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Avery Dennison Co. will post 9.42 EPS for the current fiscal year.

Avery Dennison Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be paid a $0.88 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $3.52 dividend on an annualized basis and a yield of 1.74%. Avery Dennison’s dividend payout ratio is currently 42.26%.

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.