3,154 Shares in Avery Dennison Co. (NYSE:AVY) Purchased by WINTON GROUP Ltd

WINTON GROUP Ltd bought a new position in Avery Dennison Co. (NYSE:AVY) during the second quarter, Holdings Channel reports. The firm bought 3,154 shares of the industrial products company’s stock, valued at approximately $690,000.

Other hedge funds also recently made changes to their positions in the company. Innealta Capital LLC purchased a new stake in shares of Avery Dennison in the second quarter worth about $28,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Avery Dennison in the second quarter worth about $42,000. 1620 Investment Advisors Inc. purchased a new stake in shares of Avery Dennison in the second quarter worth about $51,000. Palisade Asset Management LLC purchased a new stake in shares of Avery Dennison in the first quarter worth about $64,000. Finally, Versant Capital Management Inc lifted its position in shares of Avery Dennison by 936.7% in the second 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 in the last quarter. 94.17% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Avery Dennison news, Chairman Mitchell R. Butier sold 3,000 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $202.95, for a total transaction of $608,850.00. Following the transaction, the chairman now directly owns 304,114 shares in the company, valued at approximately $61,719,936.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Chairman Mitchell R. Butier sold 3,000 shares of Avery Dennison stock in a transaction on Monday, August 5th. The stock was sold at an average price of $202.95, for a total value of $608,850.00. Following the transaction, the chairman now directly owns 304,114 shares in the company, valued at approximately $61,719,936.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Mitchell R. Butier sold 10,000 shares of Avery Dennison stock in a transaction on Friday, August 16th. The shares were sold at an average price of $211.91, for a total value of $2,119,100.00. Following the completion of the transaction, the chairman now owns 304,114 shares in the company, valued at $64,444,797.74. The disclosure for this sale can be found here. Insiders have sold 59,108 shares of company stock worth $12,545,087 in the last ninety days. 1.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

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

Avery Dennison Price Performance

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

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

Avery Dennison Dividend Announcement

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

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.