Tredje AP fonden Sells 267 Shares of Avery Dennison Co. (NYSE:AVY)

Tredje AP fonden lowered its stake in Avery Dennison Co. (NYSE:AVY) by 1.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 17,206 shares of the industrial products company’s stock after selling 267 shares during the quarter. Tredje AP fonden’s holdings in Avery Dennison were worth $3,762,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Victory Capital Management Inc. lifted its position in Avery Dennison by 2.1% in the 2nd quarter. Victory Capital Management Inc. now owns 1,326,548 shares of the industrial products company’s stock valued at $290,050,000 after acquiring an additional 27,771 shares in the last quarter. Boston Partners raised its stake in shares of Avery Dennison by 3.6% in the 1st quarter. Boston Partners now owns 1,019,802 shares of the industrial products company’s stock valued at $227,660,000 after purchasing an additional 35,538 shares during the period. Norges Bank bought a new stake in shares of Avery Dennison in the fourth quarter valued at about $185,292,000. Dimensional Fund Advisors LP grew its holdings in shares of Avery Dennison by 4.3% during the second quarter. Dimensional Fund Advisors LP now owns 787,716 shares of the industrial products company’s stock worth $172,254,000 after buying an additional 32,467 shares in the last quarter. Finally, Veritas Investment Partners UK Ltd. raised its position in Avery Dennison by 15.5% in the 4th quarter. Veritas Investment Partners UK Ltd. now owns 760,791 shares of the industrial products company’s stock valued at $153,804,000 after buying an additional 102,000 shares during the last quarter. Institutional investors and hedge funds own 94.17% of the company’s stock.

Avery Dennison Price Performance

Shares of NYSE AVY opened at $209.36 on Thursday. The company has a quick ratio of 0.60, a current ratio of 0.90 and a debt-to-equity ratio of 0.89. The business’s 50 day moving average price is $215.79 and its two-hundred day moving average price is $218.86. The company has a market cap of $16.86 billion, a PE ratio of 30.56, a price-to-earnings-growth ratio of 1.81 and a beta of 0.88. Avery Dennison Co. has a twelve month low of $165.21 and a twelve month high of $233.48.

Avery Dennison (NYSE:AVY) last posted 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 for the quarter, compared to analyst estimates of $2.18 billion. During the same period in the previous year, the firm earned $1.92 EPS. The firm’s revenue was up 6.9% compared to the same quarter last year. On average, analysts predict that Avery Dennison Co. will post 9.41 EPS for the current year.

Avery Dennison Announces Dividend

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

Insider Activity at Avery Dennison

In other Avery Dennison news, Chairman Mitchell R. Butier sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $213.75, for a total transaction of $2,137,500.00. Following the completion of the sale, the chairman now directly owns 304,114 shares in the company, valued at $65,004,367.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 dated 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 $66,333,345.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Mitchell R. Butier sold 10,000 shares of Avery Dennison stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $213.75, for a total transaction of $2,137,500.00. Following the completion of the sale, the chairman now owns 304,114 shares of the company’s stock, valued at approximately $65,004,367.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 59,108 shares of company stock worth $12,545,087. Insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. UBS Group downgraded Avery Dennison from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $262.00 to $235.00 in a research report on Thursday, July 25th. Stifel Nicolaus started coverage on shares of Avery Dennison in a research report on Tuesday, July 9th. They issued a “buy” rating and a $274.60 target price for the company. Truist Financial boosted their price target on shares of Avery Dennison from $253.00 to $258.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Citigroup raised their price objective on Avery Dennison from $230.00 to $241.00 and gave the company a “neutral” rating in a report on Monday, July 8th. Finally, BMO Capital Markets dropped their target price on Avery Dennison from $256.00 to $254.00 and set an “outperform” rating on the stock in a report on Wednesday, July 24th. 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 company’s stock. According to MarketBeat.com, the stock currently has a consensus 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.