Avery Dennison Co. (NYSE:AVY) Shares Bought by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. lifted its holdings in shares of Avery Dennison Co. (NYSE:AVY) by 8.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,259 shares of the industrial products company’s stock after buying an additional 815 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Avery Dennison were worth $2,243,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Innealta Capital LLC acquired a new stake in Avery Dennison during the 2nd quarter worth approximately $28,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Avery Dennison during the second quarter worth $42,000. 1620 Investment Advisors Inc. purchased a new position in Avery Dennison in the 2nd quarter valued at $51,000. Palisade Asset Management LLC acquired a new position in Avery Dennison in the 1st quarter valued at $64,000. Finally, Versant Capital Management Inc raised its position in Avery Dennison by 936.7% during the 2nd quarter. Versant Capital Management Inc now owns 311 shares of the industrial products company’s stock worth $68,000 after buying an additional 281 shares during the last quarter. Hedge funds and other institutional investors own 94.17% of the company’s stock.

Avery Dennison Price Performance

Avery Dennison stock opened at $220.20 on Wednesday. The company has a quick ratio of 0.60, a current ratio of 0.90 and a debt-to-equity ratio of 0.89. The firm’s 50-day simple moving average is $215.93 and its 200 day simple moving average is $218.92. Avery Dennison Co. has a 52 week low of $165.21 and a 52 week high of $233.48. The firm has a market capitalization of $17.74 billion, a PE ratio of 32.15, a P/E/G ratio of 1.81 and a beta of 0.88.

Avery Dennison (NYSE:AVY) last released its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $2.42 EPS for the quarter, beating the consensus estimate of $2.26 by $0.16. Avery Dennison had a net margin of 7.34% and a return on equity of 33.44%. The business had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.18 billion. During the same period in the prior year, the business earned $1.92 earnings per share. The company’s quarterly revenue was up 6.9% on a year-over-year basis. On average, equities research analysts predict that Avery Dennison Co. will post 9.41 EPS for the current fiscal year.

Avery Dennison Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th will be given a $0.88 dividend. The ex-dividend date is Wednesday, September 4th. This represents a $3.52 annualized dividend and a dividend yield of 1.60%. Avery Dennison’s dividend payout ratio is currently 51.39%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Truist Financial boosted their price target on shares of Avery Dennison from $253.00 to $258.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. BMO Capital Markets cut their target price on Avery Dennison from $256.00 to $254.00 and set an “outperform” rating for the company in a research note on Wednesday, July 24th. Citigroup lifted their price target on Avery Dennison from $230.00 to $241.00 and gave the company a “neutral” rating in a research note on Monday, July 8th. Stifel Nicolaus began coverage on Avery Dennison in a research report on Tuesday, July 9th. They issued a “buy” rating and a $274.60 price objective for the company. Finally, UBS Group lowered shares of Avery Dennison from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $262.00 to $235.00 in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $239.96.

Insider Activity at Avery Dennison

In related news, Chairman Mitchell R. Butier sold 10,000 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $213.75, for a total value of $2,137,500.00. Following the completion of the transaction, the chairman now owns 304,114 shares of the company’s stock, valued at approximately $65,004,367.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Chairman Mitchell R. Butier sold 7,108 shares of the firm’s stock in a transaction on 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 sale, the chairman now owns 304,114 shares in the company, valued at $66,333,345.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Mitchell R. Butier sold 10,000 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $213.75, for a total value of $2,137,500.00. Following the completion of the transaction, the chairman now owns 304,114 shares of the company’s stock, valued at $65,004,367.50. The disclosure for this sale can be found here. Insiders have sold a total of 59,108 shares of company stock valued at $12,545,087 over the last quarter. Insiders own 1.10% of the company’s stock.

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.