EP Wealth Advisors LLC Boosts Stake in Avery Dennison Co. (NYSE:AVY)

EP Wealth Advisors LLC increased its stake in Avery Dennison Co. (NYSE:AVY) by 21.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,134 shares of the industrial products company’s stock after acquiring an additional 201 shares during the period. EP Wealth Advisors LLC’s holdings in Avery Dennison were worth $248,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Innealta Capital LLC purchased a new position in shares of Avery Dennison during the second quarter worth approximately $28,000. Ashton Thomas Private Wealth LLC bought a new position in shares of Avery Dennison during the 2nd quarter valued at $42,000. 1620 Investment Advisors Inc. purchased a new position in Avery Dennison in the 2nd quarter worth $51,000. Palisade Asset Management LLC bought a new stake in Avery Dennison in the first quarter worth $64,000. Finally, Versant Capital Management Inc boosted its position in Avery Dennison by 936.7% during the second quarter. Versant Capital Management Inc now owns 311 shares of the industrial products company’s stock valued at $68,000 after buying an additional 281 shares during the period. Institutional investors own 94.17% of the company’s stock.

Insider Buying and Selling

In other news, Chairman Mitchell R. Butier sold 3,000 shares of Avery Dennison stock in a transaction dated 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 of the company’s stock, valued at $61,719,936.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Chairman Mitchell R. Butier sold 3,000 shares of the stock in a transaction that occurred on 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 approximately $61,719,936.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Mitchell R. Butier sold 10,000 shares of Avery Dennison 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 in the company, valued at $65,004,367.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 59,108 shares of company stock valued at $12,545,087 over the last 90 days. Company insiders own 1.10% of the company’s stock.

Avery Dennison Price Performance

AVY stock opened at $214.59 on Friday. 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 $17.29 billion, a price-to-earnings ratio of 31.33, a PEG ratio of 1.78 and a beta of 0.88. The firm has a 50 day moving average price of $215.36 and a 200-day moving average price of $218.98. Avery Dennison Co. has a 52-week low of $165.21 and a 52-week high of $233.48.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $2.42 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 analyst estimates of $2.18 billion. Avery Dennison had a net margin of 7.34% and a return on equity of 33.44%. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.92 earnings per share. Equities research analysts forecast that Avery Dennison Co. will post 9.41 EPS for the current fiscal year.

Avery Dennison Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th were paid a $0.88 dividend. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.64%. Avery Dennison’s dividend payout ratio (DPR) is currently 51.39%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. UBS Group cut Avery Dennison from a “buy” rating to a “neutral” rating and dropped their target price for the company from $262.00 to $235.00 in a report on Thursday, July 25th. Stifel Nicolaus started coverage on shares of Avery Dennison in a report on Tuesday, July 9th. They issued a “buy” rating and a $274.60 price target on the stock. Citigroup reduced their price target on Avery Dennison from $241.00 to $240.00 and set a “neutral” rating on the stock in a report on Wednesday. BMO Capital Markets reiterated an “outperform” rating and issued a $252.00 price objective (down from $254.00) on shares of Avery Dennison in a research report on Thursday, September 19th. Finally, Robert W. Baird upped their target price on Avery Dennison from $230.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, June 7th. 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 company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $242.26.

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.