Atria Investments Inc Increases Holdings in Avery Dennison Co. (NYSE:AVY)

Atria Investments Inc increased its stake in Avery Dennison Co. (NYSE:AVY) by 12.2% during the third quarter, Holdings Channel.com reports. The institutional investor owned 14,058 shares of the industrial products company’s stock after buying an additional 1,530 shares during the period. Atria Investments Inc’s holdings in Avery Dennison were worth $3,103,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in the stock. Intech Investment Management LLC boosted its stake in Avery Dennison by 3.3% in the second quarter. Intech Investment Management LLC now owns 1,559 shares of the industrial products company’s stock valued at $341,000 after acquiring an additional 50 shares during the last quarter. Procyon Advisors LLC lifted its stake in Avery Dennison by 4.0% in the third quarter. Procyon Advisors LLC now owns 1,442 shares of the industrial products company’s stock valued at $319,000 after purchasing an additional 56 shares during the last quarter. Bailard Inc. grew its holdings in Avery Dennison by 0.5% during the second quarter. Bailard Inc. now owns 12,202 shares of the industrial products company’s stock valued at $2,668,000 after purchasing an additional 61 shares during the period. Legacy Wealth Asset Management LLC increased its position in Avery Dennison by 4.5% in the third quarter. Legacy Wealth Asset Management LLC now owns 1,479 shares of the industrial products company’s stock worth $327,000 after buying an additional 64 shares during the last quarter. Finally, Vontobel Holding Ltd. raised its stake in shares of Avery Dennison by 6.4% in the third quarter. Vontobel Holding Ltd. now owns 1,284 shares of the industrial products company’s stock valued at $283,000 after buying an additional 77 shares during the period. Institutional investors own 94.17% of the company’s stock.

Avery Dennison Stock Up 0.2 %

AVY opened at $202.98 on Thursday. 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 Co. has a one year low of $182.68 and a one year high of $233.48. The firm has a market capitalization of $16.31 billion, a P/E ratio of 24.37, a price-to-earnings-growth ratio of 1.56 and a beta of 0.89. The company has a fifty day moving average price of $213.87 and a 200-day moving average price of $217.89.

Avery Dennison (NYSE:AVY) last announced its earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $2.32 by $0.01. The business had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.20 billion. Avery Dennison had a return on equity of 33.01% and a net margin of 7.76%. The company’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same period in the prior year, the company earned $2.10 EPS. Equities research analysts expect that Avery Dennison Co. will post 9.42 earnings per share for the current fiscal year.

Avery Dennison Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be given 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 1.73%. Avery Dennison’s payout ratio is presently 42.26%.

Insiders Place Their Bets

In other news, Chairman Mitchell R. Butier sold 7,108 shares of the firm’s stock in a transaction 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 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Chairman Mitchell R. Butier sold 7,108 shares of the stock in a transaction dated Friday, August 23rd. The stock was 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 in the company, valued at approximately $66,333,345.68. 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 this link. Also, Chairman Mitchell R. Butier sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $214.21, for a total value of $2,142,100.00. Following the transaction, the chairman now directly owns 304,114 shares in the company, valued at approximately $65,144,259.94. 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 37,108 shares of company stock valued at $7,940,597 in the last quarter. Corporate insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on AVY. BMO Capital Markets cut their price target on Avery Dennison from $252.00 to $247.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. StockNews.com downgraded shares of Avery Dennison from a “buy” rating to a “hold” rating in a research note on Thursday, October 24th. Citigroup lowered their price target 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. Truist Financial raised their price objective on shares of Avery Dennison from $253.00 to $258.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Finally, Bank of America raised shares of 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 report on Thursday, October 17th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Avery Dennison presently has a consensus rating of “Moderate Buy” and a consensus target price of $244.96.

Avery Dennison 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.