Avery Dennison Co. (NYSE:AVY) Shares Sold by Impax Asset Management Group plc

Impax Asset Management Group plc decreased its holdings in shares of Avery Dennison Co. (NYSE:AVY) by 8.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 112,231 shares of the industrial products company’s stock after selling 9,823 shares during the quarter. Impax Asset Management Group plc owned about 0.14% of Avery Dennison worth $24,776,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Victory Capital Management Inc. raised its holdings in Avery Dennison by 2.1% in the 2nd quarter. Victory Capital Management Inc. now owns 1,326,548 shares of the industrial products company’s stock valued at $290,050,000 after buying an additional 27,771 shares during the period. Boston Partners increased its holdings in Avery Dennison by 3.6% in the first quarter. Boston Partners now owns 1,019,802 shares of the industrial products company’s stock valued at $227,660,000 after buying an additional 35,538 shares during the last quarter. Meridiem Investment Management Ltd. raised its stake in Avery Dennison by 0.7% during the 3rd quarter. Meridiem Investment Management Ltd. now owns 794,092 shares of the industrial products company’s stock worth $175,261,000 after acquiring an additional 5,756 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Avery Dennison by 4.3% during the second quarter. Dimensional Fund Advisors LP now owns 787,716 shares of the industrial products company’s stock worth $172,254,000 after purchasing an additional 32,467 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of Avery Dennison by 2.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 646,223 shares of the industrial products company’s stock worth $141,297,000 after acquiring an additional 17,158 shares during the period. Hedge funds and other 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 the company’s stock in a transaction dated 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 owns 304,114 shares of the company’s stock, valued at $66,333,345.68. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Chairman Mitchell R. Butier sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $206.80, for a total transaction of $620,400.00. Following the transaction, the chairman now owns 304,114 shares in the company, valued at $62,890,775.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Mitchell R. Butier sold 7,108 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $218.12, for a total value of $1,550,396.96. Following the sale, the chairman now directly owns 304,114 shares in the company, valued at approximately $66,333,345.68. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 46,108 shares of company stock valued at $9,798,737. 1.10% of the stock is currently owned by corporate insiders.

Avery Dennison Stock Down 0.3 %

Avery Dennison stock opened at $205.57 on Tuesday. 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 one year low of $176.75 and a one year high of $233.48. The company has a 50-day simple moving average of $215.67 and a 200-day simple moving average of $218.28. The firm has a market capitalization of $16.52 billion, a P/E ratio of 24.68, a P/E/G ratio of 1.59 and a beta of 0.89.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 EPS for the quarter, beating the consensus estimate of $2.32 by $0.01. The company 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%. Avery Dennison’s revenue was up 4.1% compared to the same quarter last year. During the same quarter last year, the business earned $2.10 earnings per share. As a group, equities analysts expect that Avery Dennison Co. will post 9.41 earnings per share 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. The ex-dividend date is Wednesday, December 4th. This represents a $3.52 dividend on an annualized basis and a yield of 1.71%. Avery Dennison’s dividend payout ratio (DPR) is presently 42.26%.

Analyst Ratings Changes

AVY has been the topic of several research reports. UBS Group lowered shares of Avery Dennison from a “buy” rating to a “neutral” rating and lowered their price target for the company from $262.00 to $235.00 in a research report on Thursday, July 25th. Truist Financial upped their target price on shares of Avery Dennison from $253.00 to $258.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Bank of America raised Avery Dennison from an “underperform” rating to a “buy” rating and boosted their price objective for the company from $207.00 to $250.00 in a report on Thursday, October 17th. Citigroup reduced their target price on Avery Dennison from $241.00 to $240.00 and set a “neutral” rating on the stock in a report on Wednesday, October 2nd. Finally, Stifel Nicolaus assumed coverage on Avery Dennison in a report on Tuesday, July 9th. They issued a “buy” rating and a $274.60 price target for the company. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus 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.