Blue Trust Inc. Has $562,000 Stock Holdings in Avery Dennison Co. (NYSE:AVY)

Blue Trust Inc. decreased its holdings in shares of Avery Dennison Co. (NYSE:AVY) by 13.6% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 2,570 shares of the industrial products company’s stock after selling 406 shares during the quarter. Blue Trust Inc.’s holdings in Avery Dennison were worth $562,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in AVY. Innealta Capital LLC bought a new stake in Avery Dennison in the second quarter valued at about $28,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Avery Dennison in the 2nd quarter valued at approximately $42,000. 1620 Investment Advisors Inc. bought a new position in Avery Dennison during the 2nd quarter worth approximately $51,000. Palisade Asset Management LLC acquired a new position in Avery Dennison during the first quarter valued at approximately $64,000. Finally, Versant Capital Management Inc increased its stake in 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 purchasing an additional 281 shares in the last quarter. Institutional investors and hedge funds own 94.17% of the company’s stock.

Insiders Place Their Bets

In other news, Chairman Mitchell R. Butier sold 7,108 shares of the 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 of the company’s stock, valued at approximately $66,333,345.68. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Chairman Mitchell R. Butier sold 3,000 shares of the company’s 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 sale, the chairman now directly owns 304,114 shares of the company’s stock, valued at approximately $61,719,936.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Mitchell R. Butier sold 7,108 shares of Avery Dennison 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 of the company’s stock, valued at $66,333,345.68. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 59,108 shares of company stock valued at $12,545,087 in the last 90 days. 1.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on AVY. Truist Financial lifted 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. Bank of America raised Avery Dennison from an “underperform” rating to a “buy” rating and boosted their target price for the company from $207.00 to $250.00 in a research note on Thursday, October 17th. 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 target on the stock. Barclays assumed coverage on Avery Dennison in a research report on Monday, October 7th. They issued an “overweight” rating and a $250.00 price objective for the company. Finally, Citigroup dropped their target price on shares of Avery Dennison from $241.00 to $240.00 and set a “neutral” rating on the stock in a report on Wednesday, October 2nd. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $246.78.

Avery Dennison Stock Performance

Shares of AVY opened at $215.41 on Tuesday. The stock has a market capitalization of $17.35 billion, a price-to-earnings ratio of 31.45, a PEG ratio of 1.78 and a beta of 0.88. Avery Dennison Co. has a 12 month low of $165.21 and a 12 month high of $233.48. The firm has a fifty day simple moving average of $216.96 and a 200 day simple moving average of $218.74. The company has a current ratio of 0.90, a quick ratio of 0.60 and a debt-to-equity ratio of 0.89.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $2.42 earnings per share for the quarter, beating the consensus estimate of $2.26 by $0.16. Avery Dennison had a return on equity of 33.44% and a net margin of 7.34%. The company had revenue of $2.24 billion during the quarter, compared to analysts’ expectations of $2.18 billion. During the same quarter last year, the company earned $1.92 EPS. Avery Dennison’s revenue for the quarter was up 6.9% compared to the same quarter last year. Research analysts forecast that Avery Dennison Co. will post 9.41 EPS for the current fiscal year.

Avery Dennison Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th were paid a $0.88 dividend. The ex-dividend date was Wednesday, September 4th. This represents a $3.52 dividend on an annualized basis and a yield of 1.63%. Avery Dennison’s dividend payout ratio is 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.