Metis Global Partners LLC Boosts Holdings in Avery Dennison Co. (NYSE:AVY)

Metis Global Partners LLC increased its holdings in Avery Dennison Co. (NYSE:AVY) by 21.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,311 shares of the industrial products company’s stock after acquiring an additional 1,297 shares during the quarter. Metis Global Partners LLC’s holdings in Avery Dennison were worth $1,614,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Intech Investment Management LLC grew its stake in Avery Dennison by 3.3% in the second quarter. Intech Investment Management LLC now owns 1,559 shares of the industrial products company’s stock worth $341,000 after purchasing an additional 50 shares in the last quarter. Procyon Advisors LLC raised its position in shares of Avery Dennison by 4.0% during the 3rd quarter. Procyon Advisors LLC now owns 1,442 shares of the industrial products company’s stock valued at $319,000 after acquiring an additional 56 shares in the last quarter. Bailard Inc. raised its position in shares of Avery Dennison by 0.5% during the 2nd quarter. Bailard Inc. now owns 12,202 shares of the industrial products company’s stock valued at $2,668,000 after acquiring an additional 61 shares in the last quarter. Legacy Wealth Asset Management LLC lifted its stake in Avery Dennison by 4.5% during the third quarter. Legacy Wealth Asset Management LLC now owns 1,479 shares of the industrial products company’s stock worth $327,000 after purchasing an additional 64 shares during the last quarter. Finally, Baker Avenue Asset Management LP boosted its holdings in Avery Dennison by 7.1% in the third quarter. Baker Avenue Asset Management LP now owns 1,041 shares of the industrial products company’s stock worth $230,000 after purchasing an additional 69 shares during the period. 94.17% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. UBS Group downgraded shares of Avery Dennison from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $262.00 to $235.00 in a research report on Thursday, July 25th. Bank of America upgraded shares of Avery Dennison from an “underperform” rating to a “buy” rating and upped their price target for the stock from $207.00 to $250.00 in a research report on Thursday, October 17th. BMO Capital Markets cut their price objective on shares of Avery Dennison from $252.00 to $247.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Citigroup decreased their target price on shares of Avery Dennison from $241.00 to $240.00 and set a “neutral” rating for the company in a research report on Wednesday, October 2nd. Finally, Truist Financial lifted their price target on Avery Dennison from $253.00 to $258.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $244.96.

Insider Activity at Avery Dennison

In other Avery Dennison news, Chairman Mitchell R. Butier sold 10,000 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $214.21, for a total transaction of $2,142,100.00. Following the sale, the chairman now directly owns 304,114 shares of the company’s stock, valued at $65,144,259.94. The trade was a 3.18 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders sold 27,108 shares of company stock worth $5,821,497. 1.10% of the stock is owned by corporate insiders.

Avery Dennison Stock Down 1.1 %

AVY opened at $197.73 on Friday. Avery Dennison Co. has a one year low of $186.66 and a one year high of $233.48. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.62 and a current ratio of 0.92. The company has a market capitalization of $15.89 billion, a PE ratio of 23.74, a P/E/G ratio of 1.56 and a beta of 0.89. The stock’s fifty day moving average is $212.79 and its 200-day moving average is $217.52.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings data 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. The company had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.20 billion. Avery Dennison had a return on equity of 33.01% and a net margin of 7.76%. The company’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.10 EPS. On average, equities analysts predict that Avery Dennison Co. will post 9.42 EPS for the current fiscal year.

Avery Dennison Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be issued 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 dividend yield of 1.78%. 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.