Robeco Institutional Asset Management B.V. Has $21.39 Million Holdings in Avery Dennison Co. (NYSE:AVY)

Robeco Institutional Asset Management B.V. increased its stake in shares of Avery Dennison Co. (NYSE:AVY) by 72.8% during the third quarter, HoldingsChannel.com reports. The fund owned 96,889 shares of the industrial products company’s stock after purchasing an additional 40,824 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Avery Dennison were worth $21,389,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in AVY. Fort L.P. acquired a new position in Avery Dennison during the third quarter valued at approximately $205,000. Van ECK Associates Corp grew its stake in Avery Dennison by 11.0% in the 3rd quarter. Van ECK Associates Corp now owns 13,219 shares of the industrial products company’s stock valued at $2,745,000 after buying an additional 1,310 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in Avery Dennison by 1.5% in the 3rd quarter. Janney Montgomery Scott LLC now owns 159,531 shares of the industrial products company’s stock worth $35,218,000 after acquiring an additional 2,281 shares during the period. Chicago Partners Investment Group LLC lifted its position in Avery Dennison by 8.2% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 1,570 shares of the industrial products company’s stock worth $326,000 after acquiring an additional 119 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its holdings in Avery Dennison by 3.7% during the third quarter. New York State Common Retirement Fund now owns 77,080 shares of the industrial products company’s stock valued at $17,016,000 after acquiring an additional 2,724 shares during the period. 94.17% of the stock is owned by institutional investors.

Avery Dennison Price Performance

NYSE:AVY opened at $204.12 on Thursday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.62 and a current ratio of 0.92. The company has a 50-day moving average of $215.16 and a 200-day moving average of $218.14. Avery Dennison Co. has a 52 week low of $176.75 and a 52 week high of $233.48. The company has a market capitalization of $16.40 billion, a price-to-earnings ratio of 24.50, a PEG ratio of 1.58 and a beta of 0.89.

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

Avery Dennison Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date of this dividend is Wednesday, December 4th. Avery Dennison’s dividend payout ratio (DPR) is 42.26%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. BMO Capital Markets dropped their price objective on Avery Dennison from $252.00 to $247.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. JPMorgan Chase & Co. lowered Avery Dennison from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $230.00 to $210.00 in a report on Thursday, October 24th. Truist Financial increased their price objective on Avery Dennison from $253.00 to $258.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. 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 research report on Wednesday, October 2nd. Finally, StockNews.com downgraded shares of Avery Dennison from a “buy” rating to a “hold” rating in a report on Thursday, October 24th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $244.96.

Insiders Place Their Bets

In other news, Chairman Mitchell R. Butier sold 3,000 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $206.82, for a total value of $620,460.00. Following the sale, the chairman now owns 304,114 shares in the company, valued at approximately $62,896,857.48. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Chairman Mitchell R. Butier sold 3,000 shares of Avery Dennison stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $206.82, for a total transaction of $620,460.00. Following the completion of the transaction, the chairman now directly owns 304,114 shares of the company’s stock, valued at $62,896,857.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Mitchell R. Butier sold 10,000 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $211.91, for a total transaction of $2,119,100.00. Following the sale, the chairman now directly owns 304,114 shares in the company, valued at $64,444,797.74. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 43,108 shares of company stock worth $9,181,457 over the last three months. 1.10% of the stock is currently owned by corporate insiders.

About Avery Dennison

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.