Avery Dennison Co. (NYSE:AVY) Shares Bought by Livforsakringsbolaget Skandia Omsesidigt

Livforsakringsbolaget Skandia Omsesidigt increased its position in Avery Dennison Co. (NYSE:AVY) by 255.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 950 shares of the industrial products company’s stock after acquiring an additional 683 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Avery Dennison were worth $210,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Innealta Capital LLC acquired a new position in shares of Avery Dennison in the second quarter worth about $28,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of 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 acquired a new stake in Avery Dennison during the first quarter worth $64,000. Finally, Versant Capital Management Inc boosted its stake 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 worth $68,000 after buying an additional 281 shares in the last quarter. Institutional investors own 94.17% of the company’s stock.

Insider Activity at Avery Dennison

In other Avery Dennison news, Chairman Mitchell R. Butier sold 10,000 shares of the stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $213.75, for a total value of $2,137,500.00. Following the completion of the transaction, the chairman now directly owns 304,114 shares in the company, valued at approximately $65,004,367.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Chairman Mitchell R. Butier sold 10,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $213.75, for a total transaction of $2,137,500.00. Following the completion of the transaction, the chairman now directly owns 304,114 shares in the company, valued at $65,004,367.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Mitchell R. Butier sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $205.76, for a total value of $617,280.00. Following the transaction, the chairman now owns 304,114 shares of the company’s stock, valued at $62,574,496.64. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 59,108 shares of company stock valued at $12,545,087 over the last ninety days. 1.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on AVY. UBS Group cut Avery Dennison from a “buy” rating to a “neutral” rating and cut their price objective for the company from $262.00 to $235.00 in a report on Thursday, July 25th. Citigroup decreased their target price on Avery Dennison from $241.00 to $240.00 and set a “neutral” rating for the company in a research report on Wednesday, October 2nd. Stifel Nicolaus initiated coverage on Avery Dennison in a research report on Tuesday, July 9th. They set a “buy” rating and a $274.60 target price for the company. Barclays assumed coverage on Avery Dennison in a research report on Monday, October 7th. They issued an “overweight” rating and a $250.00 price objective for the company. Finally, Truist Financial boosted their target price on Avery Dennison from $253.00 to $258.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $242.96.

Avery Dennison Stock Up 1.1 %

AVY opened at $220.52 on Tuesday. Avery Dennison Co. has a 1-year low of $165.21 and a 1-year high of $233.48. The stock’s fifty day simple moving average is $215.87 and its 200 day simple moving average is $218.88. 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 stock has a market cap of $17.76 billion, a PE ratio of 32.19, a price-to-earnings-growth ratio of 1.78 and a beta of 0.88.

Avery Dennison (NYSE:AVY) last issued 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 company’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.92 EPS. As a group, research 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 disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th were paid a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.60%. The ex-dividend date of this dividend was Wednesday, September 4th. Avery Dennison’s dividend payout ratio (DPR) is presently 51.39%.

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.