Mutual of America Capital Management LLC Has $5.42 Million Position in Avery Dennison Co. (NYSE:AVY)

Mutual of America Capital Management LLC lessened its position in Avery Dennison Co. (NYSE:AVY) by 8.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 24,777 shares of the industrial products company’s stock after selling 2,402 shares during the period. Mutual of America Capital Management LLC’s holdings in Avery Dennison were worth $5,417,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. UBS Group AG grew its stake in Avery Dennison by 54.1% during the fourth quarter. UBS Group AG now owns 181,418 shares of the industrial products company’s stock worth $36,675,000 after buying an additional 63,716 shares during the last quarter. Cetera Investment Advisers raised its position in Avery Dennison by 195.2% in the 1st quarter. Cetera Investment Advisers now owns 17,863 shares of the industrial products company’s stock valued at $3,988,000 after purchasing an additional 11,811 shares during the last quarter. Natixis boosted its stake in Avery Dennison by 365.9% in the first quarter. Natixis now owns 4,552 shares of the industrial products company’s stock worth $1,016,000 after purchasing an additional 3,575 shares in the last quarter. Mediolanum International Funds Ltd bought a new stake in shares of Avery Dennison during the first quarter worth $2,935,000. Finally, SG Americas Securities LLC increased its stake in shares of Avery Dennison by 86.5% in 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 buying an additional 15,092 shares in the last quarter. Institutional investors own 94.17% of the company’s stock.

Insider Activity

In related news, Chairman Mitchell R. Butier sold 10,000 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $213.75, for a total transaction of $2,137,500.00. Following the completion of the transaction, the chairman now owns 304,114 shares in the company, valued at $65,004,367.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Avery Dennison news, Chairman Mitchell R. Butier sold 3,000 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $205.76, for a total transaction of $617,280.00. Following the sale, the chairman now directly owns 304,114 shares of the company’s stock, valued at $62,574,496.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Mitchell R. Butier sold 10,000 shares of Avery Dennison stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $213.75, for a total transaction of $2,137,500.00. Following the completion of the transaction, the chairman now directly owns 304,114 shares of the company’s stock, valued at approximately $65,004,367.50. The disclosure for this sale can be found here. Insiders have sold 59,108 shares of company stock worth $12,545,087 over the last ninety days. Insiders own 1.10% of the company’s stock.

Avery Dennison Stock Performance

Shares of AVY opened at $211.58 on Friday. The firm’s 50 day moving average price is $215.56 and its two-hundred day moving average price is $218.80. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.60 and a current ratio of 0.90. Avery Dennison Co. has a twelve month low of $165.21 and a twelve month high of $233.48. The firm has a market cap of $17.04 billion, a P/E ratio of 30.89, a PEG ratio of 1.81 and a beta of 0.88.

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

Avery Dennison Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th were paid a dividend of $0.88 per share. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $3.52 annualized dividend and a dividend yield of 1.66%. Avery Dennison’s dividend payout ratio is currently 51.39%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. UBS Group lowered shares of Avery Dennison from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $262.00 to $235.00 in a report on Thursday, July 25th. Robert W. Baird raised their price target on shares of Avery Dennison from $230.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, June 7th. Stifel Nicolaus assumed coverage on Avery Dennison in a report on Tuesday, July 9th. They set a “buy” rating and a $274.60 price objective on the stock. BMO Capital Markets restated an “outperform” rating and set a $252.00 target price (down previously from $254.00) on shares of Avery Dennison in a research report on Thursday. Finally, Truist Financial raised their price target on Avery Dennison from $253.00 to $258.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $239.78.

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.