Louisiana State Employees Retirement System Sells 100 Shares of Avery Dennison Co. (NYSE:AVY)

Louisiana State Employees Retirement System trimmed its holdings in Avery Dennison Co. (NYSE:AVY) by 2.2% during the 3rd quarter, Holdings Channel.com reports. The fund owned 4,500 shares of the industrial products company’s stock after selling 100 shares during the period. Louisiana State Employees Retirement System’s holdings in Avery Dennison were worth $993,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in AVY. Swedbank AB purchased a new position in Avery Dennison in the 1st quarter worth approximately $102,117,000. Jennison Associates LLC bought a new position in shares of Avery Dennison during the first quarter worth $44,837,000. National Bank of Canada FI boosted its position 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 worth $34,190,000 after acquiring an additional 142,348 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in Avery Dennison by 179.5% during the second 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. increased its holdings in Avery Dennison by 51.9% in the 2nd quarter. Bahl & Gaynor Inc. now owns 240,096 shares of the industrial products company’s stock valued at $52,497,000 after acquiring an additional 81,993 shares during the last quarter. Institutional investors own 94.17% of the company’s stock.

Insiders Place Their Bets

In related news, Chairman Mitchell R. Butier sold 3,000 shares of Avery Dennison stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $205.76, for a total value of $617,280.00. Following the completion of the sale, the chairman now directly owns 304,114 shares in the company, valued at $62,574,496.64. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Chairman Mitchell R. Butier sold 7,108 shares of Avery Dennison stock in a transaction that occurred on 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 directly owns 304,114 shares of the company’s stock, valued at $66,333,345.68. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Mitchell R. Butier sold 3,000 shares of Avery Dennison stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $205.76, for a total value of $617,280.00. Following the completion of the transaction, the chairman now owns 304,114 shares in the company, valued at $62,574,496.64. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 46,108 shares of company stock worth $9,798,737. 1.10% of the stock is currently owned by company insiders.

Avery Dennison Stock Performance

Avery Dennison stock opened at $206.11 on Monday. Avery Dennison Co. has a 1-year low of $175.10 and a 1-year high of $233.48. The company’s 50-day moving average is $215.91 and its 200 day moving average is $218.30. The firm has a market capitalization of $16.56 billion, a P/E ratio of 24.74, a price-to-earnings-growth ratio of 1.59 and a beta of 0.89. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.92 and a quick ratio of 0.62.

Avery Dennison (NYSE:AVY) last posted its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.32 by $0.01. The company had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.20 billion. Avery Dennison had a return on equity of 33.01% and a net margin of 7.76%. Avery Dennison’s revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.10 EPS. Research analysts forecast that Avery Dennison Co. will post 9.41 EPS for the current year.

Avery Dennison Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be issued a dividend of $0.88 per share. The ex-dividend date is Wednesday, December 4th. This represents a $3.52 annualized dividend and a yield of 1.71%. Avery Dennison’s payout ratio is currently 42.26%.

Analysts Set New Price Targets

Several research analysts have commented on AVY shares. Citigroup dropped their price objective 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. Stifel Nicolaus began coverage on Avery Dennison in a report on Tuesday, July 9th. They set a “buy” rating and a $274.60 price target for the company. BMO Capital Markets decreased their price objective on Avery Dennison from $252.00 to $247.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. JPMorgan Chase & Co. lowered shares of Avery Dennison from an “overweight” rating to a “neutral” rating and cut their target price for the company from $230.00 to $210.00 in a report on Thursday, October 24th. Finally, Truist Financial upped their price target on shares of Avery Dennison from $253.00 to $258.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Avery Dennison presently has an average rating of “Moderate Buy” and an average target price of $244.96.

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.