Avery Dennison Co. (NYSE:AVY) Shares Sold by Middleton & Co. Inc. MA

Middleton & Co. Inc. MA cut its holdings in Avery Dennison Co. (NYSE:AVY) by 2.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,545 shares of the industrial products company’s stock after selling 195 shares during the quarter. Middleton & Co. Inc. MA’s holdings in Avery Dennison were worth $1,431,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of AVY. Taylor Frigon Capital Management LLC raised its position in shares of Avery Dennison by 0.8% in the 1st quarter. Taylor Frigon Capital Management LLC now owns 6,386 shares of the industrial products company’s stock worth $1,426,000 after buying an additional 48 shares during the period. Albert D Mason Inc. raised its holdings in shares of Avery Dennison by 0.7% in the 1st quarter. Albert D Mason Inc. now owns 7,456 shares of the industrial products company’s stock worth $1,665,000 after purchasing an additional 51 shares during the period. Condor Capital Management raised its holdings in shares of Avery Dennison by 0.4% in the 4th quarter. Condor Capital Management now owns 13,716 shares of the industrial products company’s stock worth $2,773,000 after purchasing an additional 60 shares during the period. Bailard Inc. lifted its stake in shares of Avery Dennison by 0.5% in the 2nd quarter. Bailard Inc. now owns 12,202 shares of the industrial products company’s stock valued at $2,668,000 after purchasing an additional 61 shares in the last quarter. Finally, Czech National Bank grew its holdings in shares of Avery Dennison by 0.5% during the 1st quarter. Czech National Bank now owns 14,169 shares of the industrial products company’s stock worth $3,163,000 after purchasing an additional 64 shares during the period. 94.17% of the stock is owned by hedge funds and other institutional investors.

Avery Dennison Trading Down 4.9 %

AVY opened at $209.36 on Thursday. Avery Dennison Co. has a 12-month low of $165.21 and a 12-month high of $233.48. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.90 and a quick ratio of 0.60. The stock has a market capitalization of $16.86 billion, a PE ratio of 30.56, a P/E/G ratio of 1.81 and a beta of 0.88. The firm’s fifty day moving average price is $215.79 and its 200 day moving average price is $218.86.

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 business had revenue of $2.24 billion for 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 in the prior year, the business posted $1.92 EPS. As a group, research analysts expect that Avery Dennison Co. will post 9.41 EPS for the current fiscal year.

Avery Dennison Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th were given a $0.88 dividend. The ex-dividend date was Wednesday, September 4th. This represents a $3.52 annualized dividend and a dividend yield of 1.68%. Avery Dennison’s payout ratio is 51.39%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Robert W. Baird lifted their price target on shares of Avery Dennison from $230.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, June 7th. BMO Capital Markets reduced their target price on shares of Avery Dennison from $256.00 to $254.00 and set an “outperform” rating on the stock in a report on Wednesday, July 24th. UBS Group downgraded Avery Dennison from a “buy” rating to a “neutral” rating and lowered their price target for the company from $262.00 to $235.00 in a report on Thursday, July 25th. Truist Financial boosted their price objective on Avery Dennison from $253.00 to $258.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Finally, Stifel Nicolaus began coverage on Avery Dennison in a report on Tuesday, July 9th. They issued a “buy” rating and a $274.60 price target for the company. One research 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. According to MarketBeat.com, Avery Dennison has a consensus rating of “Moderate Buy” and a consensus target price of $239.96.

Insiders Place Their Bets

In other news, Chairman Mitchell R. Butier sold 3,000 shares of Avery Dennison stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $202.95, for a total value of $608,850.00. Following the completion of the transaction, the chairman now directly owns 304,114 shares of the company’s stock, valued at approximately $61,719,936.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Chairman Mitchell R. Butier sold 3,000 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $202.95, for a total transaction of $608,850.00. Following the sale, the chairman now directly owns 304,114 shares in the company, valued at approximately $61,719,936.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Mitchell R. Butier sold 7,108 shares of the business’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 owns 304,114 shares of the company’s stock, valued at approximately $66,333,345.68. The disclosure for this sale can be found here. Insiders sold a total of 59,108 shares of company stock valued at $12,545,087 over the last 90 days. 1.10% of the stock is owned by company insiders.

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.