Swiss National Bank Grows Position in Avery Dennison Co. (NYSE:AVY)

Swiss National Bank raised its position in Avery Dennison Co. (NYSE:AVY) by 0.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 239,100 shares of the industrial products company’s stock after purchasing an additional 700 shares during the quarter. Swiss National Bank’s holdings in Avery Dennison were worth $52,784,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Innealta Capital LLC purchased a new stake in shares of Avery Dennison in the second quarter worth approximately $28,000. Kennebec Savings Bank purchased a new stake in Avery Dennison in the third quarter worth $36,000. Peterson Financial Group Inc. bought a new stake in shares of Avery Dennison during the third quarter worth $39,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Avery Dennison during the second quarter valued at $42,000. Finally, 1620 Investment Advisors Inc. purchased a new position in Avery Dennison in the 2nd quarter worth about $51,000. Institutional investors own 94.17% of the company’s stock.

Insider Transactions at Avery Dennison

In related news, Chairman Mitchell R. Butier sold 7,108 shares of Avery Dennison stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $218.12, for a total value of $1,550,396.96. Following the completion of the sale, the chairman now directly owns 304,114 shares in the company, valued at $66,333,345.68. This trade represents a 2.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.10% of the company’s stock.

Avery Dennison Stock Up 0.3 %

Shares of Avery Dennison stock opened at $197.64 on Thursday. The company has a quick ratio of 0.62, a current ratio of 0.92 and a debt-to-equity ratio of 0.85. The company has a market cap of $15.88 billion, a P/E ratio of 23.73, a PEG ratio of 1.52 and a beta of 0.89. The firm’s 50 day moving average price is $211.92 and its 200-day moving average price is $217.20. Avery Dennison Co. has a 52-week low of $187.93 and a 52-week high of $233.48.

Avery Dennison (NYSE:AVY) last released its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.32 by $0.01. Avery Dennison had a net margin of 7.76% and a return on equity of 33.01%. The business had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.20 billion. The business’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same period in the previous year, the company earned $2.10 earnings per share. On average, sell-side analysts predict that Avery Dennison Co. will post 9.42 EPS for the current fiscal year.

Avery Dennison Dividend Announcement

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 issued a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.78%. The ex-dividend date of this dividend is Wednesday, December 4th. Avery Dennison’s dividend payout ratio is presently 42.26%.

Wall Street Analyst Weigh In

Several research firms have issued reports on AVY. StockNews.com cut shares of Avery Dennison from a “buy” rating to a “hold” rating in a research report on Thursday, October 24th. Truist Financial increased their price objective on Avery Dennison from $253.00 to $258.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Citigroup decreased their target price on Avery Dennison from $241.00 to $240.00 and set a “neutral” rating for the company in a research report on Wednesday, October 2nd. BMO Capital Markets dropped their price target on Avery Dennison from $252.00 to $247.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Finally, JPMorgan Chase & Co. downgraded Avery Dennison from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $230.00 to $210.00 in a report on Thursday, October 24th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price 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.