Amalgamated Bank Decreases Stock Holdings in Avery Dennison Co. (NYSE:AVY)

Amalgamated Bank trimmed its position in shares of Avery Dennison Co. (NYSE:AVY) by 2.8% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 16,234 shares of the industrial products company’s stock after selling 469 shares during the quarter. Amalgamated Bank’s holdings in Avery Dennison were worth $3,584,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Cetera Investment Advisers increased its holdings in shares of Avery Dennison by 195.2% during the first quarter. Cetera Investment Advisers now owns 17,863 shares of the industrial products company’s stock valued at $3,988,000 after acquiring an additional 11,811 shares in the last quarter. Natixis increased its holdings in shares of Avery Dennison by 365.9% during the first quarter. Natixis now owns 4,552 shares of the industrial products company’s stock valued at $1,016,000 after acquiring an additional 3,575 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of Avery Dennison by 86.5% during the second quarter. SG Americas Securities LLC now owns 32,538 shares of the industrial products company’s stock valued at $7,114,000 after acquiring an additional 15,092 shares in the last quarter. McElhenny Sheffield Capital Management LLC acquired a new position in shares of Avery Dennison during the second quarter valued at about $543,000. Finally, Swedbank AB increased its holdings in shares of Avery Dennison by 1.0% during the second quarter. Swedbank AB now owns 462,083 shares of the industrial products company’s stock valued at $101,034,000 after acquiring an additional 4,673 shares in the last quarter. 94.17% of the stock is owned by hedge funds and other institutional investors.

Avery Dennison Trading Down 0.2 %

Avery Dennison stock opened at $205.11 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.62 and a debt-to-equity ratio of 0.85. Avery Dennison Co. has a 12 month low of $176.78 and a 12 month high of $233.48. The stock’s 50 day simple moving average is $214.56 and its two-hundred day simple moving average is $218.05. The firm has a market cap of $16.48 billion, a PE ratio of 24.62, a P/E/G ratio of 1.57 and a beta of 0.89.

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

Avery Dennison Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on AVY shares. StockNews.com downgraded shares of Avery Dennison from a “buy” rating to a “hold” rating in a report on Thursday, October 24th. JPMorgan Chase & Co. downgraded shares of 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. Citigroup cut their price target 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. BMO Capital Markets cut their price target on shares of Avery Dennison from $252.00 to $247.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Finally, Bank of America upgraded shares of Avery Dennison from an “underperform” rating to a “buy” rating and increased their price target for the stock from $207.00 to $250.00 in a report on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $244.96.

Insider Activity

In other news, Chairman Mitchell R. Butier sold 3,000 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $206.82, for a total transaction of $620,460.00. Following the transaction, the chairman now owns 304,114 shares in the company, valued at $62,896,857.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Chairman Mitchell R. Butier sold 10,000 shares of the stock in a transaction that occurred on 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 transaction, the chairman now owns 304,114 shares in the company, valued at $64,444,797.74. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Mitchell R. Butier sold 3,000 shares of the stock in a transaction that occurred 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 transaction, the chairman now owns 304,114 shares in the company, valued at $62,896,857.48. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 40,108 shares of company stock worth $8,561,057 in the last quarter. Corporate insiders own 1.10% of the company’s stock.

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.