1620 Investment Advisors Inc. Sells 50 Shares of Avery Dennison Co. (NYSE:AVY)

1620 Investment Advisors Inc. trimmed its stake in shares of Avery Dennison Co. (NYSE:AVY) by 21.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 185 shares of the industrial products company’s stock after selling 50 shares during the quarter. 1620 Investment Advisors Inc.’s holdings in Avery Dennison were worth $41,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Innealta Capital LLC bought a new position in Avery Dennison during the 2nd quarter worth approximately $28,000. Ashton Thomas Private Wealth LLC purchased a new stake in Avery Dennison in the 2nd quarter worth approximately $42,000. Raleigh Capital Management Inc. lifted its holdings in Avery Dennison by 1,400.0% in the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the industrial products company’s stock worth $56,000 after buying an additional 238 shares during the period. Palisade Asset Management LLC purchased a new stake in Avery Dennison in the 1st quarter worth approximately $64,000. Finally, Versant Capital Management Inc lifted its holdings in Avery Dennison by 936.7% in the 2nd 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 during the period. 94.17% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Chairman Mitchell R. Butier sold 7,108 shares of the stock in a transaction 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 completion of the sale, the chairman now directly owns 304,114 shares of the company’s stock, valued at $66,333,345.68. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Chairman Mitchell R. Butier sold 7,108 shares of the company’s stock in a transaction 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 completion of the transaction, the chairman now owns 304,114 shares of the company’s stock, valued at approximately $66,333,345.68. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Mitchell R. Butier sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $214.21, for a total value of $2,142,100.00. Following the sale, the chairman now directly owns 304,114 shares in the company, valued at approximately $65,144,259.94. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 49,108 shares of company stock worth $10,407,587. Company insiders own 1.10% of the company’s stock.

Avery Dennison Stock Performance

Shares of AVY opened at $207.76 on Thursday. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.90 and a quick ratio of 0.60. Avery Dennison Co. has a one year low of $171.04 and a one year high of $233.48. The firm has a market capitalization of $16.74 billion, a P/E ratio of 30.33, a PEG ratio of 1.78 and a beta of 0.88. The business has a fifty day moving average of $216.36 and a 200 day moving average of $218.30.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $2.33 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 analyst estimates of $2.20 billion. Avery Dennison had a return on equity of 33.44% and a net margin of 7.34%. Avery Dennison’s revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.10 earnings per share. As a group, sell-side analysts anticipate that Avery Dennison Co. will post 9.41 EPS for the current year.

Avery Dennison Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be issued a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.69%. The ex-dividend date of this dividend is Wednesday, December 4th. Avery Dennison’s dividend payout ratio is 51.39%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on AVY. Bank of America upgraded Avery Dennison from an “underperform” rating to a “buy” rating and increased their price objective for the stock from $207.00 to $250.00 in a report on Thursday, October 17th. Barclays dropped their price objective on Avery Dennison from $250.00 to $245.00 and set an “overweight” rating for the company in a report on Monday. StockNews.com cut Avery Dennison from a “buy” rating to a “hold” rating in a research note on Thursday, October 24th. JPMorgan Chase & Co. cut Avery Dennison from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $230.00 to $210.00 in a research note on Thursday, October 24th. Finally, UBS Group cut Avery Dennison from a “buy” rating to a “neutral” rating and lowered their target price for the company from $262.00 to $235.00 in a research note on Thursday, July 25th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $244.96.

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.