Point72 DIFC Ltd purchased a new stake in Avery Dennison Co. (NYSE:AVY – Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 4,846 shares of the industrial products company’s stock, valued at approximately $1,060,000.
Other institutional investors have also made changes to their positions in the company. US Bancorp DE lifted its position in shares of Avery Dennison by 26.6% during the 4th quarter. US Bancorp DE now owns 36,985 shares of the industrial products company’s stock valued at $7,477,000 after acquiring an additional 7,766 shares during the period. Advisory Services Network LLC grew its stake in Avery Dennison by 28.4% during the fourth quarter. Advisory Services Network LLC now owns 7,720 shares of the industrial products company’s stock worth $1,561,000 after buying an additional 1,707 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its holdings in Avery Dennison by 7.8% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 22,536 shares of the industrial products company’s stock valued at $4,556,000 after buying an additional 1,640 shares during the period. Steward Partners Investment Advisory LLC raised its position in shares of Avery Dennison by 12.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 963 shares of the industrial products company’s stock valued at $195,000 after buying an additional 107 shares in the last quarter. Finally, TD Asset Management Inc lifted its holdings in shares of Avery Dennison by 4.0% during the 4th quarter. TD Asset Management Inc now owns 314,921 shares of the industrial products company’s stock worth $63,664,000 after acquiring an additional 12,091 shares during the period. 94.17% of the stock is currently owned by institutional investors.
Avery Dennison Price Performance
AVY stock opened at $218.48 on Wednesday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.60 and a current ratio of 0.90. Avery Dennison Co. has a 52-week low of $165.21 and a 52-week high of $233.48. The company has a market capitalization of $17.60 billion, a P/E ratio of 31.89, a PEG ratio of 1.81 and a beta of 0.88. The company has a fifty day moving average price of $215.40 and a 200-day moving average price of $218.87.
Avery Dennison Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th were issued a dividend of $0.88 per share. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $3.52 annualized dividend and a yield of 1.61%. Avery Dennison’s payout ratio is 51.39%.
Analyst Ratings Changes
A number of research analysts recently issued reports on AVY shares. Citigroup lifted their price objective on shares of Avery Dennison from $230.00 to $241.00 and gave the company a “neutral” rating in a research note on Monday, July 8th. Robert W. Baird boosted their price target on Avery Dennison from $230.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, June 7th. Stifel Nicolaus initiated coverage on Avery Dennison in a research report on Tuesday, July 9th. They set a “buy” rating and a $274.60 price objective for the company. Truist Financial lifted their target price on Avery Dennison from $253.00 to $258.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Finally, UBS Group cut shares of Avery Dennison from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $262.00 to $235.00 in a report on Thursday, July 25th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Avery Dennison has a consensus rating of “Moderate Buy” and an average target price of $242.36.
Check Out Our Latest Analysis on AVY
Insider Transactions at Avery Dennison
In related news, Chairman Mitchell R. Butier sold 10,000 shares of Avery Dennison stock in a transaction on Thursday, August 1st. The shares were 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 owns 304,114 shares of the company’s stock, valued at $65,004,367.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Avery Dennison news, Chairman Mitchell R. Butier sold 10,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the chairman now directly owns 304,114 shares of the company’s stock, valued at $65,004,367.50. 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 firm’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $205.76, for a total transaction of $617,280.00. Following the sale, the chairman now directly owns 304,114 shares of the company’s stock, valued at approximately $62,574,496.64. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 59,108 shares of company stock worth $12,545,087. Company insiders own 1.10% of the company’s stock.
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.
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