Marshall Wace LLP Boosts Holdings in Avery Dennison Co. (NYSE:AVY)

Marshall Wace LLP raised its stake in Avery Dennison Co. (NYSE:AVY) by 25.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 33,193 shares of the industrial products company’s stock after acquiring an additional 6,632 shares during the quarter. Marshall Wace LLP’s holdings in Avery Dennison were worth $7,258,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Innealta Capital LLC bought a new position in shares of Avery Dennison in the second quarter valued at approximately $28,000. Ashton Thomas Private Wealth LLC purchased a new position in Avery Dennison during the second quarter worth about $42,000. 1620 Investment Advisors Inc. purchased a new stake in shares of Avery Dennison in the 2nd quarter valued at about $51,000. Palisade Asset Management LLC purchased a new position in shares of Avery Dennison during the first quarter worth about $64,000. Finally, Versant Capital Management Inc increased 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 purchasing an additional 281 shares during the last quarter. 94.17% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Chairman Mitchell R. Butier sold 7,108 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $218.12, for a total value of $1,550,396.96. Following the completion of the transaction, the chairman now owns 304,114 shares in the company, valued at approximately $66,333,345.68. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Chairman Mitchell R. Butier sold 7,108 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were 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 of the company’s stock, valued at $66,333,345.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Mitchell R. Butier sold 10,000 shares of the firm’s stock in a transaction that occurred 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 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. In the last quarter, insiders have sold 59,108 shares of company stock worth $12,545,087. Company insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Robert W. Baird lifted their target price on shares of Avery Dennison from $230.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, June 7th. Stifel Nicolaus initiated coverage on Avery Dennison in a research note on Tuesday, July 9th. They set a “buy” rating and a $274.60 price target for the company. Truist Financial boosted 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 reaffirmed an “outperform” rating and set a $252.00 target price (down previously from $254.00) on shares of Avery Dennison in a report on Thursday, September 19th. Finally, 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. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Avery Dennison presently has a consensus rating of “Moderate Buy” and an average target price of $242.36.

Avery Dennison Stock Down 0.7 %

Shares of NYSE:AVY opened at $220.76 on Tuesday. 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 Co. has a 1 year low of $165.21 and a 1 year high of $233.48. The company has a market cap of $17.78 billion, a PE ratio of 32.23, a P/E/G ratio of 1.78 and a beta of 0.88. The stock’s 50-day moving average is $215.32 and its 200 day moving average is $218.98.

Avery Dennison (NYSE:AVY) last released its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $2.42 earnings per share 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 analysts’ expectations of $2.18 billion. During the same quarter in the previous year, the business posted $1.92 earnings per share. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. Sell-side analysts anticipate that Avery Dennison Co. will post 9.41 EPS for the current year.

Avery Dennison Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th were issued a $0.88 dividend. The ex-dividend date was Wednesday, September 4th. This represents a $3.52 annualized dividend and a yield of 1.59%. Avery Dennison’s dividend payout ratio (DPR) is presently 51.39%.

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.