Ashton Thomas Private Wealth LLC Invests $42,000 in Avery Dennison Co. (NYSE:AVY)

Ashton Thomas Private Wealth LLC acquired a new position in shares of Avery Dennison Co. (NYSE:AVY) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 192 shares of the industrial products company’s stock, valued at approximately $42,000.

Several other institutional investors also recently modified their holdings of the stock. Victory Capital Management Inc. increased its holdings in shares of Avery Dennison by 2.1% in the second quarter. Victory Capital Management Inc. now owns 1,326,548 shares of the industrial products company’s stock valued at $290,050,000 after buying an additional 27,771 shares in the last quarter. Boston Partners increased its holdings in shares of Avery Dennison by 3.6% in the first quarter. Boston Partners now owns 1,019,802 shares of the industrial products company’s stock valued at $227,660,000 after buying an additional 35,538 shares in the last quarter. Norges Bank bought a new position in shares of Avery Dennison in the fourth quarter valued at $185,292,000. Veritas Investment Partners UK Ltd. increased its holdings in shares of Avery Dennison by 15.5% in the fourth quarter. Veritas Investment Partners UK Ltd. now owns 760,791 shares of the industrial products company’s stock valued at $153,804,000 after buying an additional 102,000 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Avery Dennison by 2.7% in the second quarter. Bank of New York Mellon Corp now owns 646,223 shares of the industrial products company’s stock valued at $141,297,000 after buying an additional 17,158 shares in the last quarter. Institutional investors own 94.17% of the company’s stock.

Avery Dennison Price Performance

AVY stock opened at $221.04 on Tuesday. The stock has a 50-day moving average price of $215.78 and a two-hundred day moving average price of $218.90. The stock has a market cap of $17.81 billion, a PE ratio of 32.27, a price-to-earnings-growth ratio of 1.81 and a beta of 0.88. The company has a current ratio of 0.90, a quick ratio of 0.60 and a debt-to-equity ratio of 0.89. Avery Dennison Co. has a 1 year low of $165.21 and a 1 year high of $233.48.

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

Avery Dennison Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th will be paid a dividend of $0.88 per share. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $3.52 annualized dividend and a dividend yield of 1.59%. Avery Dennison’s dividend payout ratio is currently 51.39%.

Insider Buying and Selling

In related news, Chairman Mitchell R. Butier sold 3,000 shares of Avery Dennison stock in a transaction that occurred on Monday, August 5th. The stock was 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 directly owns 304,114 shares of the company’s stock, valued at approximately $61,719,936.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Chairman Mitchell R. Butier sold 3,000 shares of Avery Dennison stock in a transaction that occurred on Monday, August 5th. The stock was 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 directly owns 304,114 shares of the company’s stock, valued at approximately $61,719,936.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman Mitchell R. Butier sold 10,000 shares of Avery Dennison stock in a transaction on Monday, August 19th. The shares were sold at an average price of $212.90, for a total value of $2,129,000.00. Following the completion of the transaction, the chairman now directly owns 304,114 shares of the company’s stock, valued at $64,745,870.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 59,108 shares of company stock valued at $12,545,087. Insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. UBS Group downgraded shares of Avery Dennison from a “buy” rating to a “neutral” rating and cut their target price for the company from $262.00 to $235.00 in a research note on Thursday, July 25th. Citigroup boosted their price target on shares of Avery Dennison from $230.00 to $241.00 and gave the company a “neutral” rating in a report on Monday, July 8th. Truist Financial boosted their price target on shares of Avery Dennison from $253.00 to $258.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Robert W. Baird boosted their price target on shares of Avery Dennison from $230.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, June 7th. Finally, Stifel Nicolaus started coverage on shares of Avery Dennison in a report on Tuesday, July 9th. They set a “buy” rating and a $274.60 price target on the stock. One equities research 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’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $239.96.

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.