Mount Yale Investment Advisors LLC Decreases Position in Avery Dennison Co. (NYSE:AVY)

Mount Yale Investment Advisors LLC decreased its holdings in shares of Avery Dennison Co. (NYSE:AVY) by 2.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,090 shares of the industrial products company’s stock after selling 287 shares during the quarter. Mount Yale Investment Advisors LLC’s holdings in Avery Dennison were worth $2,644,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. ProShare Advisors LLC lifted its stake in Avery Dennison by 14.2% in the second quarter. ProShare Advisors LLC now owns 14,101 shares of the industrial products company’s stock valued at $3,083,000 after buying an additional 1,748 shares during the last quarter. Summit Trail Advisors LLC lifted its stake in Avery Dennison by 268.9% in the second quarter. Summit Trail Advisors LLC now owns 3,475 shares of the industrial products company’s stock valued at $760,000 after buying an additional 2,533 shares during the last quarter. Sei Investments Co. lifted its stake in Avery Dennison by 0.9% in the second quarter. Sei Investments Co. now owns 39,282 shares of the industrial products company’s stock valued at $8,589,000 after buying an additional 364 shares during the last quarter. Pacer Advisors Inc. lifted its stake in Avery Dennison by 75.8% in the second quarter. Pacer Advisors Inc. now owns 17,641 shares of the industrial products company’s stock valued at $3,857,000 after buying an additional 7,605 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ lifted its stake in Avery Dennison by 9.5% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 22,961 shares of the industrial products company’s stock valued at $5,020,000 after buying an additional 2,000 shares during the last quarter. Hedge funds and other institutional investors own 94.17% of the company’s stock.

Avery Dennison Trading Down 1.9 %

Shares of AVY stock opened at $211.58 on Friday. The business’s fifty day moving average price is $215.56 and its 200 day moving average price is $218.82. Avery Dennison Co. has a 1-year low of $165.21 and a 1-year high of $233.48. The firm has a market capitalization of $17.04 billion, a PE ratio of 30.89, a P/E/G ratio of 1.81 and a beta of 0.88. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.90 and a quick ratio of 0.60.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $2.42 earnings per share 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 firm had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.18 billion. During the same quarter in the prior year, the company posted $1.92 earnings per share. Avery Dennison’s quarterly revenue was up 6.9% on a year-over-year basis. As a group, sell-side analysts forecast that Avery Dennison Co. will post 9.41 EPS for the current fiscal year.

Avery Dennison Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th were given a dividend of $0.88 per share. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $3.52 dividend on an annualized basis and a yield of 1.66%. Avery Dennison’s payout ratio is 51.39%.

Insiders Place Their Bets

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 stock was sold at an average price of $218.12, for a total transaction of $1,550,396.96. Following the sale, the chairman now directly owns 304,114 shares in the company, valued at $66,333,345.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 stock was sold at an average price of $218.12, for a total transaction of $1,550,396.96. Following the sale, the chairman now directly owns 304,114 shares in the company, valued at $66,333,345.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Mitchell R. Butier sold 10,000 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $214.21, for a total value of $2,142,100.00. Following the sale, the chairman now owns 304,114 shares in the company, valued at $65,144,259.94. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 59,108 shares of company stock worth $12,545,087. 1.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Robert W. Baird boosted their price objective on Avery Dennison from $230.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, June 7th. 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. 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. 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. Finally, 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. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $242.36.

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.