Avery Dennison Co. (NYSE:AVY) Shares Purchased by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Avery Dennison Co. (NYSE:AVY) by 3.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,813 shares of the industrial products company’s stock after buying an additional 1,314 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Avery Dennison were worth $8,348,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Innealta Capital LLC bought a new position in shares of Avery Dennison in the second quarter worth $28,000. Ashton Thomas Private Wealth LLC bought a new position in shares of Avery Dennison in the second quarter worth $42,000. 1620 Investment Advisors Inc. bought a new position in shares of Avery Dennison in the second quarter worth $51,000. Palisade Asset Management LLC bought a new position in shares of Avery Dennison in the first quarter worth $64,000. Finally, Versant Capital Management Inc grew its stake in shares of Avery Dennison by 936.7% in the second quarter. Versant Capital Management Inc now owns 311 shares of the industrial products company’s stock worth $68,000 after purchasing an additional 281 shares in the last quarter. 94.17% of the stock is owned by institutional investors and hedge funds.

Avery Dennison Stock Down 0.5 %

Shares of Avery Dennison stock opened at $217.33 on Friday. The stock has a 50-day moving average price of $216.80 and a 200 day moving average price of $218.78. The company has a market cap of $17.51 billion, a P/E ratio of 31.73, a P/E/G ratio of 1.78 and a beta of 0.88. The company has a current ratio of 0.90, a quick ratio of 0.60 and a debt-to-equity ratio of 0.89. Avery Dennison Co. has a 1 year low of $165.21 and a 1 year high of $233.48.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.16. The firm had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.18 billion. Avery Dennison had a return on equity of 33.44% and a net margin of 7.34%. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the prior year, the business earned $1.92 EPS. As a group, analysts expect that Avery Dennison Co. will post 9.41 EPS for the current fiscal year.

Avery Dennison Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th were paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date of this dividend was Wednesday, September 4th. Avery Dennison’s dividend payout ratio (DPR) is presently 51.39%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on AVY shares. Stifel Nicolaus started coverage on Avery Dennison in a research note on Tuesday, July 9th. They set a “buy” rating and a $274.60 target price for the company. Barclays started coverage on Avery Dennison in a research note on Monday, October 7th. They set an “overweight” rating and a $250.00 target price for the company. BMO Capital Markets reaffirmed an “outperform” rating and set a $252.00 target price (down previously from $254.00) on shares of Avery Dennison in a research note on Thursday, September 19th. Truist Financial raised their target price on Avery Dennison from $253.00 to $258.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Finally, Bank of America raised Avery Dennison from an “underperform” rating to a “buy” rating and raised their target price for the company from $207.00 to $250.00 in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $246.78.

Insider Transactions at Avery Dennison

In other news, Chairman Mitchell R. Butier sold 3,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $202.95, for a total transaction of $608,850.00. Following the completion of the sale, the chairman now directly owns 304,114 shares of the company’s stock, valued at $61,719,936.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Chairman Mitchell R. Butier sold 10,000 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $212.90, for a total transaction of $2,129,000.00. Following the transaction, the chairman now owns 304,114 shares of the company’s stock, valued at approximately $64,745,870.60. This represents a 0.00 % decrease in their position. 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 stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $202.95, for a total value of $608,850.00. Following the transaction, the chairman now directly owns 304,114 shares in the company, valued at approximately $61,719,936.30. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 59,108 shares of company stock valued at $12,545,087 in the last three months. Corporate insiders own 1.10% of the company’s stock.

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.