Amalgamated Bank Has $3.65 Million Stock Holdings in Avery Dennison Co. (NYSE:AVY)

Amalgamated Bank decreased its position in Avery Dennison Co. (NYSE:AVY) by 15.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 16,703 shares of the industrial products company’s stock after selling 3,142 shares during the period. Amalgamated Bank’s holdings in Avery Dennison were worth $3,652,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in AVY. Swedbank AB bought a new stake in shares of Avery Dennison in the first quarter worth about $102,117,000. Jennison Associates LLC acquired a new position in shares of Avery Dennison in the 1st quarter valued at approximately $44,837,000. Schroder Investment Management Group increased its stake in Avery Dennison by 2,707.5% during the 4th quarter. Schroder Investment Management Group now owns 197,562 shares of the industrial products company’s stock worth $39,939,000 after purchasing an additional 190,525 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Avery Dennison by 31.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 645,721 shares of the industrial products company’s stock valued at $130,539,000 after buying an additional 156,189 shares in the last quarter. Finally, National Bank of Canada FI boosted its holdings in shares of Avery Dennison by 795.2% in the second quarter. National Bank of Canada FI now owns 160,248 shares of the industrial products company’s stock valued at $34,190,000 after buying an additional 142,348 shares during the period. Institutional investors own 94.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. 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. BMO Capital Markets restated an “outperform” rating and issued a $252.00 price target (down from $254.00) on shares of Avery Dennison in a report on Thursday. Citigroup increased their price objective on Avery Dennison from $230.00 to $241.00 and gave the stock a “neutral” rating in a report on Monday, July 8th. Stifel Nicolaus initiated coverage on Avery Dennison in a research note on Tuesday, July 9th. They issued a “buy” rating and a $274.60 target price on the stock. Finally, UBS Group cut shares of Avery Dennison from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $262.00 to $235.00 in a research note on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Avery Dennison has an average rating of “Moderate Buy” and a consensus price target of $242.36.

Avery Dennison Price Performance

Shares of AVY opened at $211.58 on Monday. The company has a market cap of $17.04 billion, a price-to-earnings ratio of 30.89, a PEG ratio of 1.81 and a beta of 0.88. The company has a current ratio of 0.90, a quick ratio of 0.60 and a debt-to-equity ratio of 0.89. The company’s fifty day simple moving average is $215.56 and its 200 day simple moving average is $218.86. Avery Dennison Co. has a 1-year low of $165.21 and a 1-year high of $233.48.

Avery Dennison (NYSE:AVY) last released its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $2.42 earnings per share for the quarter, topping 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 company had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.18 billion. During the same period in the previous year, the business earned $1.92 EPS. Avery Dennison’s revenue for the quarter was up 6.9% compared to the same quarter last year. On average, research analysts forecast that Avery Dennison Co. will post 9.41 earnings per share for the current fiscal year.

Avery Dennison Dividend Announcement

The firm also recently announced 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 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%.

Insider Transactions at Avery Dennison

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 completion of the sale, the chairman now owns 304,114 shares of the company’s stock, valued at approximately $61,719,936.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Chairman Mitchell R. Butier sold 10,000 shares of the company’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 transaction, the chairman now owns 304,114 shares in the company, valued at approximately $65,004,367.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Mitchell R. Butier sold 3,000 shares of the firm’s stock in a transaction that occurred 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 sale, the chairman now owns 304,114 shares of the company’s stock, valued at $61,719,936.30. The disclosure for this sale can be found here. In the last three months, insiders sold 59,108 shares of company stock worth $12,545,087. 1.10% of the stock is owned by company insiders.

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.