Compass Ion Advisors LLC Lowers Stock Holdings in Avery Dennison Co. (NYSE:AVY)

Compass Ion Advisors LLC cut its stake in shares of Avery Dennison Co. (NYSE:AVY) by 5.5% in the 3rd quarter, Holdings Channel reports. The fund owned 1,534 shares of the industrial products company’s stock after selling 89 shares during the quarter. Compass Ion Advisors LLC’s holdings in Avery Dennison were worth $339,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AVY. Victory Capital Management Inc. increased its holdings in shares of Avery Dennison by 2.1% in the second quarter. Victory Capital Management Inc. now owns 1,326,548 shares of the industrial products company’s stock valued at $290,050,000 after purchasing an additional 27,771 shares during the period. Boston Partners grew its position in Avery Dennison by 3.6% in the 1st quarter. Boston Partners now owns 1,019,802 shares of the industrial products company’s stock valued at $227,660,000 after buying an additional 35,538 shares during the last quarter. Meridiem Investment Management Ltd. increased its stake in Avery Dennison by 0.7% in the 3rd quarter. Meridiem Investment Management Ltd. now owns 794,092 shares of the industrial products company’s stock valued at $175,261,000 after buying an additional 5,756 shares during the period. Dimensional Fund Advisors LP raised its position in Avery Dennison by 4.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 787,716 shares of the industrial products company’s stock worth $172,254,000 after buying an additional 32,467 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of Avery Dennison by 2.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 646,223 shares of the industrial products company’s stock worth $141,297,000 after acquiring an additional 17,158 shares during the period. 94.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Bank of America upgraded shares of Avery Dennison from an “underperform” rating to a “buy” rating and boosted their price target for the stock from $207.00 to $250.00 in a research note on Thursday. BMO Capital Markets reiterated an “outperform” rating and set a $252.00 target price (down previously from $254.00) on shares of Avery Dennison in a research report on Thursday, September 19th. Truist Financial raised their price target on Avery Dennison from $253.00 to $258.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Citigroup dropped their price objective on Avery Dennison from $241.00 to $240.00 and set a “neutral” rating on the stock in a report on Wednesday, October 2nd. Finally, UBS Group cut Avery Dennison from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $262.00 to $235.00 in a research report on Thursday, July 25th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, Avery Dennison has a consensus rating of “Moderate Buy” and a consensus target price of $246.78.

Avery Dennison Stock Down 0.5 %

AVY opened at $217.33 on Monday. 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 $17.51 billion, a price-to-earnings ratio of 31.73, a PEG ratio of 1.78 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. The business’s fifty day moving average is $216.80 and its two-hundred day moving average is $218.75.

Avery Dennison (NYSE:AVY) last released its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $2.42 EPS for the quarter, topping the consensus estimate of $2.26 by $0.16. Avery Dennison had a net margin of 7.34% and a return on equity of 33.44%. The business had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.18 billion. During the same period in the previous year, the firm earned $1.92 EPS. The business’s revenue for the quarter 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 business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th were given a dividend of $0.88 per share. The ex-dividend date was Wednesday, September 4th. This represents a $3.52 annualized dividend and a dividend yield of 1.62%. Avery Dennison’s dividend payout ratio is currently 51.39%.

Insider Buying and Selling at Avery Dennison

In other news, Chairman Mitchell R. Butier sold 10,000 shares of the business’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 completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Avery Dennison news, Chairman Mitchell R. Butier sold 7,108 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were 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 of the company’s stock, valued at $66,333,345.68. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Mitchell R. Butier sold 10,000 shares of Avery Dennison stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $213.75, for a total transaction of $2,137,500.00. Following the sale, the chairman now owns 304,114 shares of the company’s stock, valued at approximately $65,004,367.50. This trade represents a 0.00 % decrease in their ownership of the stock. 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. 1.10% of the stock is owned by insiders.

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.