Nisa Investment Advisors LLC Sells 400 Shares of Avery Dennison Co. (NYSE:AVY)

Nisa Investment Advisors LLC lessened its position in shares of Avery Dennison Co. (NYSE:AVY) by 2.1% during the third quarter, HoldingsChannel.com reports. The fund owned 18,283 shares of the industrial products company’s stock after selling 400 shares during the period. Nisa Investment Advisors LLC’s holdings in Avery Dennison were worth $4,036,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of AVY. Innealta Capital LLC bought a new stake in shares of Avery Dennison during the 2nd quarter valued at about $28,000. Ashton Thomas Private Wealth LLC purchased a new position in Avery Dennison in the 2nd quarter worth approximately $42,000. 1620 Investment Advisors Inc. bought a new position in shares of Avery Dennison in the 2nd quarter worth $51,000. Raleigh Capital Management Inc. increased its holdings in shares of Avery Dennison by 1,400.0% in the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the industrial products company’s stock worth $56,000 after buying an additional 238 shares during the last quarter. Finally, Palisade Asset Management LLC purchased a new stake in shares of Avery Dennison during the 1st quarter valued at $64,000. 94.17% of the stock is currently owned by hedge funds and other institutional investors.

Avery Dennison Stock Down 0.4 %

Shares of Avery Dennison stock opened at $206.19 on Friday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.62 and a current ratio of 0.92. Avery Dennison Co. has a 52-week low of $175.10 and a 52-week high of $233.48. The company’s 50 day moving average price is $215.91 and its 200-day moving average price is $218.19. The stock has a market capitalization of $16.57 billion, a price-to-earnings ratio of 24.75, a P/E/G ratio of 1.60 and a beta of 0.88.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.32 by $0.01. The business 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%. The company’s revenue was up 4.1% on a year-over-year basis. During the same quarter last year, the firm earned $2.10 EPS. Equities research analysts forecast that Avery Dennison Co. will post 9.41 EPS for the current year.

Avery Dennison Announces Dividend

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

Analysts Set New Price Targets

AVY has been the subject of several research reports. Stifel Nicolaus assumed coverage on shares of Avery Dennison in a research report on Tuesday, July 9th. They issued a “buy” rating and a $274.60 target price for the company. Citigroup reduced their price objective on Avery Dennison from $241.00 to $240.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 2nd. Truist Financial upped their target price on Avery Dennison from $253.00 to $258.00 and gave the stock 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 price target for the stock from $262.00 to $235.00 in a research note on Thursday, July 25th. Finally, BMO Capital Markets cut their price objective on shares of Avery Dennison from $252.00 to $247.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $244.96.

Insider Transactions at Avery Dennison

In related news, Chairman Mitchell R. Butier sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $205.76, for a total transaction of $617,280.00. Following the completion of the transaction, the chairman now owns 304,114 shares in the company, valued at $62,574,496.64. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Avery Dennison news, Chairman Mitchell R. Butier sold 10,000 shares of the company’s stock in a transaction that occurred 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 owns 304,114 shares in the company, valued at approximately $64,444,797.74. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Mitchell R. Butier sold 3,000 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $205.76, for a total value of $617,280.00. Following the completion of the transaction, the chairman now directly owns 304,114 shares of the company’s stock, valued at $62,574,496.64. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 49,108 shares of company stock worth $10,407,587. 1.10% of the stock is currently 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.