Allspring Global Investments Holdings LLC Purchases 764 Shares of Avery Dennison Co. (NYSE:AVY)

Allspring Global Investments Holdings LLC increased its holdings in shares of Avery Dennison Co. (NYSE:AVY) by 19.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,639 shares of the industrial products company’s stock after acquiring an additional 764 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Avery Dennison were worth $1,024,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in AVY. Innealta Capital LLC bought a new stake in shares of Avery Dennison during the 2nd quarter worth $28,000. Ashton Thomas Private Wealth LLC bought a new position in shares of Avery Dennison during the second quarter worth about $42,000. 1620 Investment Advisors Inc. bought a new position in Avery Dennison during the 2nd quarter worth approximately $51,000. Palisade Asset Management LLC acquired a new position in shares of Avery Dennison in the 1st quarter worth approximately $64,000. Finally, Versant Capital Management Inc boosted its stake in shares of Avery Dennison by 936.7% in the 2nd quarter. Versant Capital Management Inc now owns 311 shares of the industrial products company’s stock valued at $68,000 after purchasing an additional 281 shares during the last quarter. 94.17% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. BMO Capital Markets lowered their target price 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. JPMorgan Chase & Co. lowered Avery Dennison from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $230.00 to $210.00 in a research report on Thursday, October 24th. Barclays dropped their price objective on Avery Dennison from $250.00 to $245.00 and set an “overweight” rating on the stock in a research note on Monday. Truist Financial raised 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. Finally, StockNews.com lowered Avery Dennison from a “buy” rating to a “hold” rating in a research note on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Avery Dennison has a consensus rating of “Moderate Buy” and an average target price of $244.96.

Insider Buying and Selling at Avery Dennison

In other news, Chairman Mitchell R. Butier sold 3,000 shares of the company’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $205.76, for a total value of $617,280.00. Following the sale, 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 filing with the Securities & Exchange Commission, which is available through the SEC website. In other Avery Dennison news, Chairman Mitchell R. Butier sold 10,000 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $211.91, for a total value of $2,119,100.00. Following the completion of 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Mitchell R. Butier sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $205.76, for a total value of $617,280.00. Following the sale, the chairman now owns 304,114 shares in the company, valued at $62,574,496.64. 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 quarter, insiders sold 49,108 shares of company stock worth $10,407,587. Insiders own 1.10% of the company’s stock.

Avery Dennison Stock Performance

Shares of AVY stock opened at $207.03 on Friday. The company’s 50 day moving average is $216.17 and its 200 day moving average is $218.22. The company has a quick ratio of 0.60, a current ratio of 0.90 and a debt-to-equity ratio of 0.89. The firm has a market cap of $16.67 billion, a price-to-earnings ratio of 24.85, a PEG ratio of 1.78 and a beta of 0.88. Avery Dennison Co. has a 52-week low of $171.04 and a 52-week high of $233.48.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $2.32 by $0.01. Avery Dennison had a return on equity of 33.44% and a net margin of 7.34%. The firm had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.20 billion. During the same period in the prior year, the business posted $2.10 EPS. The firm’s quarterly revenue was up 4.1% on a year-over-year basis. On average, sell-side analysts anticipate that Avery Dennison Co. will post 9.41 EPS for the current fiscal year.

Avery Dennison Announces Dividend

The business 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 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend is Wednesday, December 4th. Avery Dennison’s dividend payout ratio is currently 42.26%.

Avery Dennison 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.