Avery Dennison Co. (NYSE:AVY) Position Increased by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC raised its stake in Avery Dennison Co. (NYSE:AVY) by 18.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,771 shares of the industrial products company’s stock after buying an additional 591 shares during the period. Exchange Traded Concepts LLC’s holdings in Avery Dennison were worth $832,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of AVY. Swedbank AB purchased a new stake in shares of Avery Dennison during the first quarter valued at $102,117,000. Jennison Associates LLC purchased a new position in shares of Avery Dennison in the first quarter worth approximately $44,837,000. National Bank of Canada FI raised its holdings in shares of Avery Dennison by 795.2% during the second quarter. National Bank of Canada FI now owns 160,248 shares of the industrial products company’s stock valued at $34,190,000 after acquiring an additional 142,348 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in shares of Avery Dennison by 179.5% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 216,135 shares of the industrial products company’s stock valued at $47,258,000 after acquiring an additional 138,808 shares in the last quarter. Finally, Bahl & Gaynor Inc. grew its position in Avery Dennison by 51.9% during the 2nd quarter. Bahl & Gaynor Inc. now owns 240,096 shares of the industrial products company’s stock worth $52,497,000 after purchasing an additional 81,993 shares in the last quarter. Institutional investors and hedge funds own 94.17% of the company’s stock.

Avery Dennison Price Performance

Shares of Avery Dennison stock opened at $218.38 on Friday. Avery Dennison Co. has a 1-year low of $165.21 and a 1-year high of $233.48. The firm has a fifty day simple moving average of $216.61 and a 200-day simple moving average of $218.82. The company has a current ratio of 0.90, a quick ratio of 0.60 and a debt-to-equity ratio of 0.89. The stock has a market capitalization of $17.59 billion, a price-to-earnings ratio of 31.88, a PEG ratio of 1.78 and a beta of 0.88.

Avery Dennison (NYSE:AVY) last posted its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $2.42 EPS 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. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.92 earnings per share. On average, 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 announced 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 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date was Wednesday, September 4th. Avery Dennison’s dividend payout ratio (DPR) is currently 51.39%.

Insider Activity at Avery Dennison

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 transaction of $1,550,396.96. Following the transaction, the chairman now owns 304,114 shares in the company, valued at approximately $66,333,345.68. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Avery Dennison news, Chairman Mitchell R. Butier sold 7,108 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chairman now owns 304,114 shares in the company, valued at approximately $66,333,345.68. This trade represents a 0.00 % decrease in their position. 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 3,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $202.95, for a total value of $608,850.00. Following the sale, the chairman now owns 304,114 shares in the company, valued at approximately $61,719,936.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 59,108 shares of company stock worth $12,545,087 in the last ninety days. 1.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on AVY shares. Truist Financial increased their target price on Avery Dennison from $253.00 to $258.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Stifel Nicolaus began coverage on Avery Dennison in a research report on Tuesday, July 9th. They set a “buy” rating and a $274.60 price objective for the company. Bank of America upgraded Avery Dennison from an “underperform” rating to a “buy” rating and upped their target price for the company from $207.00 to $250.00 in a report on Thursday. Citigroup decreased their price target on shares of Avery Dennison from $241.00 to $240.00 and set a “neutral” rating for the company in a report on Wednesday, October 2nd. Finally, Barclays initiated coverage on shares of Avery Dennison in a research note on Monday, October 7th. They issued an “overweight” rating and a $250.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $246.78.

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.