Avery Dennison Co. (NYSE:AVY) Shares Sold by Edgestream Partners L.P.

Edgestream Partners L.P. decreased its position in shares of Avery Dennison Co. (NYSE:AVY) by 58.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,152 shares of the industrial products company’s stock after selling 7,268 shares during the period. Edgestream Partners L.P.’s holdings in Avery Dennison were worth $1,126,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Taylor Frigon Capital Management LLC increased its position in Avery Dennison by 0.8% during the first quarter. Taylor Frigon Capital Management LLC now owns 6,386 shares of the industrial products company’s stock worth $1,426,000 after buying an additional 48 shares during the period. Condor Capital Management increased its position in Avery Dennison by 0.4% during the fourth quarter. Condor Capital Management now owns 13,716 shares of the industrial products company’s stock worth $2,773,000 after buying an additional 60 shares during the period. Bailard Inc. increased its position in Avery Dennison by 0.5% during the second quarter. Bailard Inc. now owns 12,202 shares of the industrial products company’s stock worth $2,668,000 after buying an additional 61 shares during the period. Czech National Bank increased its holdings in shares of Avery Dennison by 0.5% in the first quarter. Czech National Bank now owns 14,169 shares of the industrial products company’s stock valued at $3,163,000 after purchasing an additional 64 shares during the period. Finally, Gulf International Bank UK Ltd increased its holdings in shares of Avery Dennison by 1.0% in the first quarter. Gulf International Bank UK Ltd now owns 6,646 shares of the industrial products company’s stock valued at $1,483,000 after purchasing an additional 64 shares during the period. Institutional investors and hedge funds own 94.17% of the company’s stock.

Avery Dennison Stock Down 1.9 %

AVY opened at $211.58 on Friday. The business’s fifty day moving average is $215.56 and its two-hundred day moving average is $218.80. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.60 and a current ratio of 0.90. The company has a market cap of $17.04 billion, a price-to-earnings ratio of 30.89, a PEG ratio of 1.81 and a beta of 0.88. Avery Dennison Co. has a one year low of $165.21 and a one year high of $233.48.

Avery Dennison (NYSE:AVY) last posted its earnings results on Tuesday, July 23rd. The industrial products company reported $2.42 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.16. Avery Dennison had a return on equity of 33.44% and a net margin of 7.34%. The company had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.18 billion. During the same period in the previous year, the business earned $1.92 earnings per share. Avery Dennison’s quarterly revenue was up 6.9% compared to the same quarter last year. Analysts anticipate 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 was paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th were paid a $0.88 dividend. The ex-dividend date was Wednesday, September 4th. This represents a $3.52 annualized dividend and a yield of 1.66%. Avery Dennison’s payout ratio is currently 51.39%.

Insider Activity at Avery Dennison

In other Avery Dennison news, Chairman Mitchell R. Butier sold 7,108 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $218.12, for a total transaction of $1,550,396.96. Following the completion of the sale, the chairman now directly owns 304,114 shares in the company, valued at $66,333,345.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Chairman Mitchell R. Butier sold 7,108 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $218.12, for a total value of $1,550,396.96. Following the completion of the sale, the chairman now owns 304,114 shares of the company’s stock, valued at $66,333,345.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Mitchell R. Butier sold 3,000 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $202.95, for a total value of $608,850.00. Following the completion of the transaction, the chairman now directly owns 304,114 shares of the company’s stock, valued at approximately $61,719,936.30. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 59,108 shares of company stock worth $12,545,087. 1.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

AVY has been the topic of a number of recent research reports. Citigroup boosted their target price on Avery Dennison from $230.00 to $241.00 and gave the company a “neutral” rating in a report on Monday, July 8th. Stifel Nicolaus initiated coverage on Avery Dennison in a report on Tuesday, July 9th. They issued a “buy” rating and a $274.60 target price on the stock. UBS Group lowered Avery Dennison from a “buy” rating to a “neutral” rating and dropped their target price for the company from $262.00 to $235.00 in a report on Thursday, July 25th. Truist Financial boosted their target price on Avery Dennison from $253.00 to $258.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $252.00 target price (down previously from $254.00) on shares of Avery Dennison in a report on Thursday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Avery Dennison currently has an average rating of “Moderate Buy” and a consensus price target of $239.78.

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.