BNP PARIBAS ASSET MANAGEMENT Holding S.A. Grows Position in Avery Dennison Co. (NYSE:AVY)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of Avery Dennison Co. (NYSE:AVY) by 179.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 216,135 shares of the industrial products company’s stock after purchasing an additional 138,808 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned 0.27% of Avery Dennison worth $47,258,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of AVY. Taylor Frigon Capital Management LLC raised its position in Avery Dennison by 0.8% during the first quarter. Taylor Frigon Capital Management LLC now owns 6,386 shares of the industrial products company’s stock valued at $1,426,000 after purchasing an additional 48 shares in the last quarter. Albert D Mason Inc. raised its holdings in shares of Avery Dennison by 0.7% during the 1st quarter. Albert D Mason Inc. now owns 7,456 shares of the industrial products company’s stock valued at $1,665,000 after buying an additional 51 shares in the last quarter. First Trust Direct Indexing L.P. lifted its position in Avery Dennison by 5.0% in the 4th quarter. First Trust Direct Indexing L.P. now owns 1,198 shares of the industrial products company’s stock worth $242,000 after buying an additional 57 shares during the last quarter. Condor Capital Management boosted its stake in Avery Dennison by 0.4% in the fourth quarter. Condor Capital Management now owns 13,716 shares of the industrial products company’s stock worth $2,773,000 after buying an additional 60 shares in the last quarter. Finally, Bailard Inc. grew its position in Avery Dennison by 0.5% during the second 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 last quarter. 94.17% of the stock is currently owned by institutional investors.

Insider Activity at Avery Dennison

In other Avery Dennison news, insider Ryan D. Yost sold 149 shares of the company’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $226.38, for a total value of $33,730.62. Following the completion of the sale, the insider now owns 2,110 shares in the company, valued at $477,661.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, SVP Ignacio J. Walker sold 2,206 shares of the stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $226.70, for a total transaction of $500,100.20. Following the completion of the sale, the senior vice president now owns 7,082 shares in the company, valued at $1,605,489.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ryan D. Yost sold 149 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $226.38, for a total value of $33,730.62. Following the completion of the transaction, the insider now directly owns 2,110 shares in the company, valued at $477,661.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 61,463 shares of company stock worth $13,078,918. 1.10% of the stock is owned by company insiders.

Avery Dennison Trading Up 1.5 %

Shares of NYSE AVY opened at $221.83 on Friday. The company has a market cap of $17.87 billion, a PE ratio of 32.38, a P/E/G ratio of 1.77 and a beta of 0.88. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.60 and a current ratio of 0.90. The firm’s 50 day moving average price is $215.83 and its 200-day moving average price is $218.18. Avery Dennison Co. has a 52-week low of $165.21 and a 52-week high of $233.48.

Avery Dennison (NYSE:AVY) last issued its earnings results on Tuesday, July 23rd. The industrial products company reported $2.42 earnings per share for the quarter, topping analysts’ consensus estimates of $2.26 by $0.16. Avery Dennison had a return on equity of 33.44% and a net margin of 7.34%. The business had revenue of $2.24 billion during the quarter, compared to analyst estimates of $2.18 billion. During the same quarter in the previous year, the firm earned $1.92 EPS. Avery Dennison’s revenue was up 6.9% on a year-over-year basis. On average, equities research analysts expect that Avery Dennison Co. will post 9.39 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 given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 1.59%. The ex-dividend date is Wednesday, September 4th. Avery Dennison’s payout ratio is currently 51.39%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on AVY. Truist Financial raised their price objective on Avery Dennison from $253.00 to $258.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Stifel Nicolaus initiated coverage on Avery Dennison in a research note on Tuesday, July 9th. They issued a “buy” rating and a $274.60 price target on the stock. Citigroup increased their price objective on Avery Dennison from $230.00 to $241.00 and gave the company a “neutral” rating in a research note on Monday, July 8th. Robert W. Baird lifted their target price 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, Argus increased their price target on shares of Avery Dennison from $240.00 to $245.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. One analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $239.96.

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.