Gulf International Bank UK Ltd Decreases Holdings in Avery Dennison Co. (NYSE:AVY)

Gulf International Bank UK Ltd lowered its stake in Avery Dennison Co. (NYSE:AVY) by 3.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,385 shares of the industrial products company’s stock after selling 261 shares during the period. Gulf International Bank UK Ltd’s holdings in Avery Dennison were worth $1,409,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Intech Investment Management LLC boosted its holdings in shares of Avery Dennison by 3.3% in the 2nd quarter. Intech Investment Management LLC now owns 1,559 shares of the industrial products company’s stock worth $341,000 after purchasing an additional 50 shares during the period. Procyon Advisors LLC boosted its stake in Avery Dennison by 4.0% during the third quarter. Procyon Advisors LLC now owns 1,442 shares of the industrial products company’s stock worth $319,000 after buying an additional 56 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 valued at $2,668,000 after acquiring an additional 61 shares during the last quarter. Legacy Wealth Asset Management LLC raised its stake in shares of Avery Dennison by 4.5% in the third quarter. Legacy Wealth Asset Management LLC now owns 1,479 shares of the industrial products company’s stock valued at $327,000 after acquiring an additional 64 shares during the period. Finally, Great Diamond Partners LLC lifted its holdings in shares of Avery Dennison by 1.7% in the 1st quarter. Great Diamond Partners LLC now owns 4,269 shares of the industrial products company’s stock worth $953,000 after acquiring an additional 72 shares during the last quarter. 94.17% of the stock is owned by institutional investors.

Avery Dennison Stock Up 0.7 %

Shares of Avery Dennison stock opened at $205.45 on Friday. Avery Dennison Co. has a 1 year low of $176.75 and a 1 year high of $233.48. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.92 and a quick ratio of 0.62. The stock has a market cap of $16.51 billion, a price-to-earnings ratio of 24.66, a PEG ratio of 1.58 and a beta of 0.89. The firm’s 50-day moving average is $214.90 and its two-hundred day moving average is $218.05.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.32 by $0.01. The company had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.20 billion. Avery Dennison had a net margin of 7.76% and a return on equity of 33.01%. Avery Dennison’s revenue was up 4.1% compared to the same quarter last year. During the same period last year, the company posted $2.10 earnings per share. As a group, research analysts expect that Avery Dennison Co. will post 9.41 earnings per share for the current fiscal year.

Avery Dennison Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date of this dividend is Wednesday, December 4th. Avery Dennison’s dividend payout ratio (DPR) is currently 42.26%.

Insider Activity at Avery Dennison

In other Avery Dennison news, Chairman Mitchell R. Butier sold 3,000 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $206.82, for a total value of $620,460.00. Following the completion of the transaction, the chairman now directly owns 304,114 shares in the company, valued at approximately $62,896,857.48. 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 the SEC website. In other news, Chairman Mitchell R. Butier sold 10,000 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $211.91, for a total transaction of $2,119,100.00. Following the transaction, the chairman now directly owns 304,114 shares of the company’s stock, valued at approximately $64,444,797.74. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Mitchell R. Butier sold 3,000 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $206.82, for a total value of $620,460.00. Following the completion of the sale, the chairman now directly owns 304,114 shares of the company’s stock, valued at $62,896,857.48. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 40,108 shares of company stock valued at $8,561,057 over the last quarter. 1.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on AVY. JPMorgan Chase & Co. lowered shares of Avery Dennison from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $230.00 to $210.00 in a research report on Thursday, October 24th. Citigroup reduced their price target on Avery Dennison from $241.00 to $240.00 and set a “neutral” rating on the stock in a report on Wednesday, October 2nd. Bank of America raised Avery Dennison from an “underperform” rating to a “buy” rating and raised their price target for the stock from $207.00 to $250.00 in a research note on Thursday, October 17th. Truist Financial upped their price objective 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, BMO Capital Markets decreased their target price on Avery Dennison from $252.00 to $247.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $244.96.

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.