Xponance Inc. Increases Position in Avery Dennison Co. (NYSE:AVY)

Xponance Inc. raised its position in shares of Avery Dennison Co. (NYSE:AVY) by 2.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,345 shares of the industrial products company’s stock after buying an additional 386 shares during the period. Xponance Inc.’s holdings in Avery Dennison were worth $3,137,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analyst Upgrades and Downgrades

Several research firms recently commented on AVY. Citigroup boosted their target price on Avery Dennison from $230.00 to $241.00 and gave the stock a “neutral” rating in a research note on Monday, July 8th. Robert W. Baird boosted their price objective on Avery Dennison from $230.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, June 7th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $252.00 target price (down previously from $254.00) on shares of Avery Dennison in a report on Thursday, September 19th. 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 report on Wednesday, July 24th. Finally, UBS Group downgraded shares of Avery Dennison from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $262.00 to $235.00 in a research note on Thursday, July 25th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Avery Dennison has an average rating of “Moderate Buy” and an average price target of $242.36.

Avery Dennison Stock Performance

NYSE AVY opened at $218.82 on Thursday. The company has a fifty day moving average of $215.32 and a two-hundred day moving average of $218.87. The company has a market capitalization of $17.63 billion, a PE ratio of 31.94, a P/E/G ratio of 1.78 and a beta of 0.88. Avery Dennison Co. has a 1 year low of $165.21 and a 1 year high of $233.48. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.90 and a quick ratio of 0.60.

Avery Dennison (NYSE:AVY) last released its quarterly 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. Avery Dennison had a return on equity of 33.44% and a net margin of 7.34%. The firm had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.18 billion. During the same quarter last year, the business posted $1.92 EPS. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. As a group, analysts expect that Avery Dennison Co. will post 9.41 earnings per share for the current year.

Avery Dennison Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th were given a $0.88 dividend. The ex-dividend date was Wednesday, September 4th. This represents a $3.52 annualized dividend and a yield of 1.61%. Avery Dennison’s dividend payout ratio (DPR) is 51.39%.

Insider Buying and Selling

In other news, Chairman Mitchell R. Butier sold 3,000 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $202.95, for a total value of $608,850.00. Following the completion of the sale, the chairman now directly owns 304,114 shares of the company’s stock, valued at $61,719,936.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Chairman Mitchell R. Butier sold 3,000 shares of the business’s stock in a transaction dated 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 owns 304,114 shares in the company, valued at approximately $61,719,936.30. The sale 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 the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $212.90, for a total value of $2,129,000.00. Following the sale, the chairman now directly owns 304,114 shares of the company’s stock, valued at $64,745,870.60. The disclosure for this sale can be found here. Insiders sold a total of 59,108 shares of company stock worth $12,545,087 in the last 90 days. Company 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.