1,413 Shares in Avery Dennison Co. (NYSE:AVY) Acquired by Ground Swell Capital LLC

Ground Swell Capital LLC bought a new stake in Avery Dennison Co. (NYSE:AVY) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,413 shares of the industrial products company’s stock, valued at approximately $312,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Swedbank AB bought a new stake in Avery Dennison during the 1st quarter worth $102,117,000. Jennison Associates LLC bought a new stake in shares of Avery Dennison during the first quarter worth about $44,837,000. National Bank of Canada FI increased its stake in shares of Avery Dennison by 795.2% in the second quarter. National Bank of Canada FI now owns 160,248 shares of the industrial products company’s stock valued at $34,190,000 after buying an additional 142,348 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in Avery Dennison by 179.5% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 216,135 shares of the industrial products company’s stock valued at $47,258,000 after buying an additional 138,808 shares during the last quarter. Finally, Bahl & Gaynor Inc. boosted its position in Avery Dennison by 51.9% during the 2nd quarter. Bahl & Gaynor Inc. now owns 240,096 shares of the industrial products company’s stock worth $52,497,000 after buying an additional 81,993 shares during the period. Institutional investors own 94.17% of the company’s stock.

Insiders Place Their Bets

In other news, Chairman Mitchell R. Butier sold 3,000 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $206.80, for a total transaction of $620,400.00. Following the completion of the sale, the chairman now directly owns 304,114 shares of the company’s stock, valued at $62,890,775.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Avery Dennison news, Chairman Mitchell R. Butier sold 10,000 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $211.91, for a total transaction of $2,119,100.00. Following the transaction, the chairman now directly owns 304,114 shares in the company, valued at approximately $64,444,797.74. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Mitchell R. Butier sold 3,000 shares of the company’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $206.80, for a total transaction of $620,400.00. Following the completion of the sale, the chairman now owns 304,114 shares of the company’s stock, valued at approximately $62,890,775.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 46,108 shares of company stock worth $9,798,737. Insiders own 1.10% of the company’s stock.

Avery Dennison Price Performance

Shares of NYSE AVY opened at $206.11 on Monday. The firm’s 50-day moving average price is $215.91 and its 200-day moving average price is $218.30. Avery Dennison Co. has a 1-year low of $175.10 and a 1-year high of $233.48. The firm has a market capitalization of $16.56 billion, a P/E ratio of 24.74, a P/E/G ratio of 1.59 and a beta of 0.89. The company has a current ratio of 0.92, a quick ratio of 0.62 and a debt-to-equity ratio of 0.85.

Avery Dennison (NYSE:AVY) last issued its earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 EPS for the quarter, beating analysts’ consensus estimates of $2.32 by $0.01. Avery Dennison had a return on equity of 33.01% and a net margin of 7.76%. The business had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.20 billion. During the same period in the previous year, the company posted $2.10 EPS. The firm’s revenue was up 4.1% compared to the same quarter last year. Equities research analysts anticipate that Avery Dennison Co. will post 9.41 earnings per share for the current fiscal 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 paid a dividend of $0.88 per share. The ex-dividend date of this dividend 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

Several research firms have recently issued reports on AVY. Citigroup dropped their price target on shares of Avery Dennison from $241.00 to $240.00 and set a “neutral” rating for the company in a research note on Wednesday, October 2nd. StockNews.com lowered Avery Dennison from a “buy” rating to a “hold” rating in a research report on Thursday, October 24th. UBS Group downgraded Avery Dennison from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $262.00 to $235.00 in a research report on Thursday, July 25th. JPMorgan Chase & Co. cut Avery Dennison from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $230.00 to $210.00 in a report on Thursday, October 24th. Finally, Truist Financial raised their price target on shares of Avery Dennison from $253.00 to $258.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, Avery Dennison presently has a consensus rating of “Moderate Buy” and a consensus target price of $244.96.

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.