Atria Wealth Solutions Inc. trimmed its position in shares of Avery Dennison Co. (NYSE:AVY – Free Report) by 6.1% during the second quarter, Holdings Channel.com reports. The firm owned 1,710 shares of the industrial products company’s stock after selling 112 shares during the period. Atria Wealth Solutions Inc.’s holdings in Avery Dennison were worth $294,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. SouthState Corp boosted its stake in Avery Dennison by 130.0% during the 1st quarter. SouthState Corp now owns 138 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 78 shares during the last quarter. Clear Street Markets LLC lifted its holdings in shares of Avery Dennison by 92.7% in the first quarter. Clear Street Markets LLC now owns 158 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 76 shares in the last quarter. Eagle Bay Advisors LLC purchased a new position in shares of Avery Dennison during the second quarter valued at approximately $33,000. Milestone Investment Advisors LLC bought a new stake in Avery Dennison during the first quarter worth $35,000. Finally, ICA Group Wealth Management LLC purchased a new stake in Avery Dennison in the 4th quarter valued at $44,000. 91.09% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several analysts have recently issued reports on AVY shares. Truist Financial reduced their target price on shares of Avery Dennison from $215.00 to $209.00 and set a “buy” rating for the company in a research note on Thursday, October 26th. UBS Group upgraded shares of Avery Dennison from a “neutral” rating to a “buy” rating and increased their price objective for the company from $184.00 to $220.00 in a research note on Wednesday, August 23rd. Argus cut their target price on Avery Dennison from $220.00 to $200.00 and set a “buy” rating on the stock in a research note on Wednesday, July 26th. StockNews.com initiated coverage on Avery Dennison in a research report on Thursday, October 5th. They set a “hold” rating for the company. Finally, Loop Capital boosted their price objective on Avery Dennison from $201.00 to $214.00 and gave the stock a “buy” rating in a research report on Thursday, September 21st. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Avery Dennison has an average rating of “Moderate Buy” and a consensus price target of $207.25.
Avery Dennison Stock Performance
NYSE:AVY opened at $180.09 on Monday. The company has a market capitalization of $14.50 billion, a P/E ratio of 30.27, a P/E/G ratio of 3.27 and a beta of 0.91. The business has a fifty day simple moving average of $180.13 and a two-hundred day simple moving average of $176.34. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.03 and a quick ratio of 0.68. Avery Dennison Co. has a 1 year low of $158.93 and a 1 year high of $195.95.
Avery Dennison (NYSE:AVY – Get Free Report) last announced its quarterly earnings data on Wednesday, October 25th. The industrial products company reported $2.10 earnings per share for the quarter, topping the consensus estimate of $2.07 by $0.03. The company had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.17 billion. Avery Dennison had a return on equity of 29.38% and a net margin of 5.83%. The firm’s revenue for the quarter was down 9.4% on a year-over-year basis. During the same quarter last year, the firm posted $2.46 EPS. On average, analysts expect that Avery Dennison Co. will post 7.86 earnings per share for the current year.
Avery Dennison Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 20th. Investors of record on Wednesday, December 6th will be issued a $0.81 dividend. This represents a $3.24 annualized dividend and a yield of 1.80%. The ex-dividend date is Tuesday, December 5th. Avery Dennison’s dividend payout ratio (DPR) is presently 54.45%.
Insider Activity at Avery Dennison
In other news, SVP Ignacio J. Walker sold 403 shares of the firm’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $180.33, for a total value of $72,672.99. Following the completion of the transaction, the senior vice president now directly owns 11,102 shares of the company’s stock, valued at $2,002,023.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Ignacio J. Walker sold 403 shares of the stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $180.33, for a total value of $72,672.99. Following the sale, the senior vice president now directly owns 11,102 shares of the company’s stock, valued at $2,002,023.66. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Julia A. Stewart sold 5,633 shares of the business’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $186.14, for a total transaction of $1,048,526.62. Following the transaction, the director now directly owns 10,329 shares of the company’s stock, valued at approximately $1,922,640.06. The disclosure for this sale can be found here. 1.10% of the stock is owned by company insiders.
Avery Dennison Company Profile
Avery Dennison Corporation operates as materials science and digital identification solutions company. It provides branding and information labeling solutions, including pressure-sensitive materials, radio-frequency identification (RFID) inlays and tags, and various converted products and solutions. The company designs and manufactures a range of labeling and functional materials that enhance branded packaging, carry or display information that connects the physical and the digital, and improve customers' product performance.
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