E. Ohman J or Asset Management AB Has $706,000 Stock Holdings in Avery Dennison Co. (NYSE:AVY)

E. Ohman J or Asset Management AB cut its position in Avery Dennison Co. (NYSE:AVY) by 13.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,200 shares of the industrial products company’s stock after selling 500 shares during the period. E. Ohman J or Asset Management AB’s holdings in Avery Dennison were worth $706,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Cetera Investment Advisers grew its stake in shares of Avery Dennison by 195.2% in the 1st quarter. Cetera Investment Advisers now owns 17,863 shares of the industrial products company’s stock valued at $3,988,000 after buying an additional 11,811 shares during the period. Natixis boosted its stake in Avery Dennison by 365.9% during the 1st quarter. Natixis now owns 4,552 shares of the industrial products company’s stock valued at $1,016,000 after purchasing an additional 3,575 shares during the last quarter. Mediolanum International Funds Ltd acquired a new position in Avery Dennison during the 1st quarter valued at about $2,935,000. SG Americas Securities LLC boosted its stake in Avery Dennison by 86.5% during the 2nd quarter. SG Americas Securities LLC now owns 32,538 shares of the industrial products company’s stock valued at $7,114,000 after purchasing an additional 15,092 shares during the last quarter. Finally, McElhenny Sheffield Capital Management LLC acquired a new position in Avery Dennison during the 2nd quarter valued at about $543,000. 94.17% of the stock is currently owned by institutional investors and hedge funds.

Avery Dennison Trading Up 1.1 %

NYSE:AVY opened at $207.16 on Friday. 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 capitalization of $16.69 billion, a PE ratio of 30.24, a price-to-earnings-growth ratio of 1.78 and a beta of 0.88. The firm’s 50 day moving average is $216.73 and its 200 day moving average is $218.44. Avery Dennison Co. has a 12 month low of $165.21 and a 12 month high of $233.48.

Avery Dennison (NYSE:AVY) last posted its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 EPS for the quarter, topping analysts’ consensus estimates of $2.32 by $0.01. The company had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.20 billion. Avery Dennison had a net margin of 7.34% and a return on equity of 33.44%. Avery Dennison’s revenue was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.10 EPS. Sell-side analysts expect that Avery Dennison Co. will post 9.41 earnings per share for the current year.

Avery Dennison Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be issued a $0.88 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.70%. Avery Dennison’s dividend payout ratio (DPR) is presently 51.39%.

Insider Buying and Selling

In other Avery Dennison news, Chairman Mitchell R. Butier sold 3,000 shares of the business’s 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 sale, the chairman now 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 sale was disclosed in a legal filing with the SEC, which is available through this link. In other Avery Dennison news, Chairman Mitchell R. Butier sold 7,108 shares of the business’s stock in a transaction on 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 trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Mitchell R. Butier sold 3,000 shares of the business’s 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 sale, the chairman now directly owns 304,114 shares in the company, valued at $61,719,936.30. The trade was a 0.00 % decrease in their position. 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 owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on AVY. JPMorgan Chase & Co. downgraded Avery Dennison from an “overweight” rating to a “neutral” rating and cut their price target for the company from $230.00 to $210.00 in a research note on Thursday. StockNews.com downgraded Avery Dennison from a “buy” rating to a “hold” rating in a research note on Thursday. Citigroup dropped their target price on shares of Avery Dennison from $241.00 to $240.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 2nd. Stifel Nicolaus started coverage on shares of Avery Dennison in a research report on Tuesday, July 9th. They set a “buy” rating and a $274.60 target price on the stock. Finally, Truist Financial lifted their target price on shares of Avery Dennison from $253.00 to $258.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $245.42.

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.