Tredje AP fonden Has $3.76 Million Holdings in Avery Dennison Co. (NYSE:AVY)

Tredje AP fonden trimmed its position in Avery Dennison Co. (NYSE:AVY) by 1.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,206 shares of the industrial products company’s stock after selling 267 shares during the quarter. Tredje AP fonden’s holdings in Avery Dennison were worth $3,762,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Victory Capital Management Inc. raised its stake in shares of Avery Dennison by 2.1% in the 2nd 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 raised its position in Avery Dennison by 3.6% in the first quarter. Boston Partners now owns 1,019,802 shares of the industrial products company’s stock worth $227,660,000 after purchasing an additional 35,538 shares in the last quarter. Norges Bank bought a new position in Avery Dennison during the fourth quarter worth about $185,292,000. Dimensional Fund Advisors LP boosted its holdings in Avery Dennison by 4.3% during the second quarter. Dimensional Fund Advisors LP now owns 787,716 shares of the industrial products company’s stock valued at $172,254,000 after purchasing an additional 32,467 shares in the last quarter. Finally, Veritas Investment Partners UK Ltd. grew its stake in shares of Avery Dennison by 15.5% in the 4th quarter. Veritas Investment Partners UK Ltd. now owns 760,791 shares of the industrial products company’s stock valued at $153,804,000 after purchasing an additional 102,000 shares during the period. 94.17% of the stock is owned by institutional investors.

Insider Activity at Avery Dennison

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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Avery Dennison news, Chairman Mitchell R. Butier sold 10,000 shares of the 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 sale, the chairman now directly owns 304,114 shares in the company, valued at $64,745,870.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Mitchell R. Butier sold 3,000 shares of Avery Dennison stock in a transaction 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 transaction, the chairman now directly owns 304,114 shares in the company, valued at $61,719,936.30. The disclosure for this sale can be found here. Insiders have sold 59,108 shares of company stock worth $12,545,087 over the last ninety days. Company insiders own 1.10% of the company’s stock.

Avery Dennison Stock Performance

Shares of Avery Dennison stock opened at $209.36 on Thursday. The firm has a 50 day simple moving average of $215.79 and a 200 day simple moving average of $218.86. Avery Dennison Co. has a fifty-two week low of $165.21 and a fifty-two week high of $233.48. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.90 and a quick ratio of 0.60. The firm has a market cap of $16.86 billion, a P/E ratio of 30.56, a P/E/G ratio of 1.81 and a beta of 0.88.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.16. The business 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 firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.92 earnings per share. Sell-side analysts predict that Avery Dennison Co. will post 9.41 earnings per share for the current fiscal year.

Avery Dennison Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th were paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date was Wednesday, September 4th. Avery Dennison’s dividend payout ratio (DPR) is 51.39%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on AVY. Robert W. Baird boosted their price target on Avery Dennison from $230.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, June 7th. Stifel Nicolaus assumed 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 lifted 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. UBS Group cut shares of Avery Dennison from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $262.00 to $235.00 in a research note on Thursday, July 25th. Finally, Truist Financial lifted their target price on shares of Avery Dennison from $253.00 to $258.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $239.96.

About Avery Dennison

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.