Clarius Group LLC Invests $201,000 in Avery Dennison Co. (NYSE:AVY)

Clarius Group LLC bought a new stake in shares of Avery Dennison Co. (NYSE:AVY) in the 3rd quarter, HoldingsChannel reports. The institutional investor bought 914 shares of the industrial products company’s stock, valued at approximately $201,000.

A number of other hedge funds have also recently bought and sold shares of the stock. Innealta Capital LLC bought a new stake in shares of Avery Dennison in the 2nd quarter worth approximately $28,000. Ashton Thomas Private Wealth LLC bought a new position in Avery Dennison in the second quarter worth $42,000. 1620 Investment Advisors Inc. acquired a new stake in Avery Dennison during the second quarter worth $51,000. Palisade Asset Management LLC bought a new stake in Avery Dennison in the 1st quarter valued at $64,000. Finally, Versant Capital Management Inc raised its stake in shares of Avery Dennison by 936.7% in the 2nd 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 in the last quarter. 94.17% of the stock is owned by institutional investors.

Avery Dennison Price Performance

Shares of AVY stock opened at $218.03 on Monday. Avery Dennison Co. has a 1 year low of $165.21 and a 1 year high of $233.48. 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 firm’s 50 day moving average is $215.50 and its 200-day moving average is $218.90. The firm has a market capitalization of $17.56 billion, a price-to-earnings ratio of 31.83, a PEG ratio of 1.78 and a beta of 0.88.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $2.42 EPS for the quarter, beating analysts’ consensus estimates of $2.26 by $0.16. The firm had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.18 billion. Avery Dennison had a return on equity of 33.44% and a net margin of 7.34%. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period last year, the company earned $1.92 EPS. Sell-side analysts forecast that Avery Dennison Co. will post 9.41 EPS for the current fiscal year.

Avery Dennison Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th were given a dividend of $0.88 per share. The ex-dividend date was Wednesday, September 4th. This represents a $3.52 dividend on an annualized basis and a yield of 1.61%. Avery Dennison’s payout ratio is presently 51.39%.

Analysts Set New Price Targets

A number of analysts recently weighed in on AVY shares. Stifel Nicolaus initiated coverage on shares of Avery Dennison in a research note on Tuesday, July 9th. They issued a “buy” rating and a $274.60 target price on the stock. Citigroup lowered their price objective on Avery Dennison from $241.00 to $240.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 2nd. Truist Financial raised their target price on Avery Dennison from $253.00 to $258.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Barclays started coverage on Avery Dennison in a research note on Monday, October 7th. They set an “overweight” rating and a $250.00 price objective for the company. Finally, UBS Group downgraded shares of Avery Dennison from a “buy” rating to a “neutral” rating and reduced their target price for the company 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 nine have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $242.96.

Insider Activity

In other Avery Dennison news, Chairman Mitchell R. Butier sold 3,000 shares of Avery Dennison stock in a transaction on Monday, August 5th. The shares were 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 trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Chairman Mitchell R. Butier sold 3,000 shares of the company’s stock in a transaction 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 owns 304,114 shares in the company, valued at $61,719,936.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Mitchell R. Butier sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $212.90, for a total transaction of $2,129,000.00. Following the sale, the chairman now owns 304,114 shares in the company, valued at $64,745,870.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 59,108 shares of company stock valued at $12,545,087. 1.10% of the stock is currently owned by insiders.

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.