SG Americas Securities LLC Boosts Stock Position in Avery Dennison Co. (NYSE:AVY)

SG Americas Securities LLC boosted its holdings in Avery Dennison Co. (NYSE:AVY) by 70.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 55,575 shares of the industrial products company’s stock after buying an additional 23,037 shares during the quarter. SG Americas Securities LLC owned approximately 0.07% of Avery Dennison worth $12,269,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Innealta Capital LLC purchased a new position in Avery Dennison in the second quarter valued at $28,000. Ashton Thomas Private Wealth LLC purchased a new position in Avery Dennison in the second quarter valued at $42,000. 1620 Investment Advisors Inc. acquired a new position in Avery Dennison in the second quarter valued at $51,000. Palisade Asset Management LLC acquired a new position in Avery Dennison in the first quarter valued at $64,000. Finally, Versant Capital Management Inc boosted its stake in Avery Dennison by 936.7% in the second quarter. Versant Capital Management Inc now owns 311 shares of the industrial products company’s stock valued at $68,000 after acquiring an additional 281 shares in the last quarter. Hedge funds and other institutional investors own 94.17% of the company’s stock.

Avery Dennison Price Performance

Shares of AVY traded up $2.00 during mid-day trading on Friday, hitting $214.59. The company’s stock had a trading volume of 244,304 shares, compared to its average volume of 461,623. The company has a current ratio of 0.90, a quick ratio of 0.60 and a debt-to-equity ratio of 0.89. The firm has a 50-day simple moving average of $215.36 and a 200 day simple moving average of $218.98. The firm has a market capitalization of $17.29 billion, a P/E ratio of 31.33, a P/E/G ratio of 1.78 and a beta of 0.88. Avery Dennison Co. has a 1-year low of $165.21 and a 1-year high of $233.48.

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

Avery Dennison Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th were issued a $0.88 dividend. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $3.52 annualized dividend and a dividend yield of 1.64%. Avery Dennison’s dividend payout ratio is currently 51.39%.

Analyst Ratings Changes

Several research firms have issued reports on AVY. Stifel Nicolaus began coverage on shares of Avery Dennison in a research note on Tuesday, July 9th. They issued a “buy” rating and a $274.60 price objective for the company. BMO Capital Markets restated an “outperform” rating and issued a $252.00 price objective (down previously from $254.00) on shares of Avery Dennison in a research note on Thursday, September 19th. Truist Financial upped their price objective 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. UBS Group downgraded shares of Avery Dennison from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $262.00 to $235.00 in a research note on Thursday, July 25th. Finally, Citigroup dropped their price target on Avery Dennison from $241.00 to $240.00 and set a “neutral” rating on the stock in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $242.26.

Insider Buying and Selling

In related news, 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 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 trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Avery Dennison news, Chairman Mitchell R. Butier sold 3,000 shares of the firm’s 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 completion of the transaction, the chairman now owns 304,114 shares of the company’s stock, valued at approximately $61,719,936.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Mitchell R. Butier sold 10,000 shares of the firm’s stock in a transaction 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 trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 59,108 shares of company stock valued at $12,545,087. 1.10% of the stock is owned by insiders.

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.