Avery Dennison Co. (NYSE:AVY) Shares Sold by Profund Advisors LLC

Profund Advisors LLC reduced its stake in shares of Avery Dennison Co. (NYSE:AVY) by 5.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,976 shares of the industrial products company’s stock after selling 113 shares during the period. Profund Advisors LLC’s holdings in Avery Dennison were worth $432,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Innealta Capital LLC purchased a new stake in shares of Avery Dennison in the second quarter valued at $28,000. Ashton Thomas Private Wealth LLC purchased a new position in Avery Dennison in the 2nd quarter valued at about $42,000. 1620 Investment Advisors Inc. purchased a new stake in shares of Avery Dennison during the second quarter worth about $51,000. Palisade Asset Management LLC acquired a new position in shares of Avery Dennison in the first quarter valued at approximately $64,000. Finally, Versant Capital Management Inc raised its position in shares of Avery Dennison by 936.7% in the second quarter. Versant Capital Management Inc now owns 311 shares of the industrial products company’s stock valued at $68,000 after buying an additional 281 shares during the last quarter. Hedge funds and other institutional investors own 94.17% of the company’s stock.

Insider Transactions at Avery Dennison

In related news, Chairman Mitchell R. Butier sold 7,108 shares of the business’s 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 transaction, the chairman now owns 304,114 shares in the company, valued at $66,333,345.68. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Chairman Mitchell R. Butier sold 7,108 shares of the business’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 completion of the sale, the chairman now owns 304,114 shares of the company’s stock, valued at approximately $66,333,345.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Mitchell R. Butier sold 10,000 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $214.21, for a total transaction of $2,142,100.00. Following the transaction, the chairman now directly owns 304,114 shares in the company, valued at approximately $65,144,259.94. The disclosure for this sale can be found here. Over the last three months, insiders have sold 59,108 shares of company stock valued at $12,545,087. Corporate insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on AVY shares. Citigroup lifted their target price on shares of Avery Dennison from $230.00 to $241.00 and gave the stock a “neutral” rating in a research note on Monday, July 8th. Robert W. Baird lifted their price objective on Avery Dennison from $230.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, June 7th. UBS Group downgraded Avery Dennison from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $262.00 to $235.00 in a research report on Thursday, July 25th. Truist Financial raised their price target 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, BMO Capital Markets reaffirmed an “outperform” rating and set a $252.00 price objective (down previously from $254.00) on shares of Avery Dennison in a research note on Thursday, September 19th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $242.36.

Avery Dennison Stock Up 0.2 %

AVY opened at $218.82 on Thursday. Avery Dennison Co. has a 1 year low of $165.21 and a 1 year high of $233.48. The firm has a 50 day moving average price of $215.32 and a 200 day moving average price of $218.87. 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 company has a market cap of $17.63 billion, a PE ratio of 31.94, a price-to-earnings-growth ratio of 1.78 and a beta of 0.88.

Avery Dennison (NYSE:AVY) last released its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.16. The company had revenue of $2.24 billion during 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 business’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.92 earnings per share. Sell-side analysts expect that Avery Dennison Co. will post 9.41 earnings per share for the current year.

Avery Dennison Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th were given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.61%. The ex-dividend date of this dividend was Wednesday, September 4th. Avery Dennison’s dividend payout ratio (DPR) is presently 51.39%.

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.