Avery Dennison Co. (NYSE:AVY) Shares Purchased by Diversified Trust Co

Diversified Trust Co grew its position in shares of Avery Dennison Co. (NYSE:AVY) by 2.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,272 shares of the industrial products company’s stock after purchasing an additional 373 shares during the period. Diversified Trust Co’s holdings in Avery Dennison were worth $2,902,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. QRG Capital Management Inc. boosted its stake in Avery Dennison by 30.7% in the 4th quarter. QRG Capital Management Inc. now owns 3,682 shares of the industrial products company’s stock worth $744,000 after buying an additional 864 shares during the last quarter. Jump Financial LLC acquired a new stake in shares of Avery Dennison in the fourth quarter worth approximately $1,213,000. UBS Group AG grew its holdings in Avery Dennison by 54.1% in the fourth quarter. UBS Group AG now owns 181,418 shares of the industrial products company’s stock valued at $36,675,000 after purchasing an additional 63,716 shares during the period. Norden Group LLC grew its holdings in Avery Dennison by 3.9% in the fourth quarter. Norden Group LLC now owns 4,026 shares of the industrial products company’s stock valued at $814,000 after purchasing an additional 151 shares during the period. Finally, Mutual of America Capital Management LLC increased its position in Avery Dennison by 133.4% during the fourth quarter. Mutual of America Capital Management LLC now owns 26,318 shares of the industrial products company’s stock worth $5,320,000 after purchasing an additional 15,040 shares during the last quarter. 94.17% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on AVY. StockNews.com upgraded Avery Dennison from a “hold” rating to a “buy” rating in a report on Monday, April 22nd. Truist Financial raised their price target on shares of Avery Dennison from $253.00 to $258.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. JPMorgan Chase & Co. boosted their price objective on shares of Avery Dennison from $218.00 to $220.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. Robert W. Baird raised their target price on shares of Avery Dennison from $230.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, June 7th. Finally, Argus lifted their target price on shares of Avery Dennison from $240.00 to $245.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Avery Dennison currently has a consensus rating of “Moderate Buy” and an average target price of $239.96.

Avery Dennison Stock Performance

AVY stock traded up $0.72 during mid-day trading on Wednesday, reaching $209.81. The company had a trading volume of 14,963 shares, compared to its average volume of 448,976. The company has a quick ratio of 0.60, a current ratio of 0.90 and a debt-to-equity ratio of 0.89. Avery Dennison Co. has a one year low of $165.21 and a one year high of $233.48. The stock’s 50-day simple moving average is $218.72 and its two-hundred day simple moving average is $217.08. The stock has a market capitalization of $16.90 billion, a P/E ratio of 30.52, a P/E/G ratio of 1.77 and a beta of 0.88.

Avery Dennison (NYSE:AVY) last posted its earnings results on Tuesday, July 23rd. The industrial products company reported $2.42 EPS for the quarter, beating the consensus estimate of $2.26 by $0.16. Avery Dennison had a return on equity of 33.44% and a net margin of 7.34%. The firm had revenue of $2.24 billion for the quarter, compared to analysts’ expectations of $2.18 billion. During the same period last year, the firm earned $1.92 EPS. The firm’s revenue was up 6.9% compared to the same quarter last year. Research analysts anticipate that Avery Dennison Co. will post 9.39 EPS for the current year.

Avery Dennison Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th will be paid a dividend of $0.88 per share. The ex-dividend date is Wednesday, September 4th. This represents a $3.52 annualized dividend and a yield of 1.68%. Avery Dennison’s dividend payout ratio is currently 51.39%.

Insider Buying and Selling

In other Avery Dennison news, SVP Deena Baker-Nel sold 3,000 shares of Avery Dennison stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $228.17, for a total value of $684,510.00. Following the transaction, the senior vice president now owns 1,577 shares in the company, valued at $359,824.09. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, Chairman Mitchell R. Butier sold 10,000 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $213.75, for a total value of $2,137,500.00. Following the transaction, the chairman now owns 304,114 shares in the company, valued at approximately $65,004,367.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Deena Baker-Nel sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $228.17, for a total transaction of $684,510.00. Following the transaction, the senior vice president now directly owns 1,577 shares in the company, valued at $359,824.09. The disclosure for this sale can be found here. Insiders have sold a total of 28,689 shares of company stock valued at $6,182,866 over the last three months. Company insiders own 1.10% of the company’s stock.

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.