Albert D Mason Inc. Sells 115 Shares of Avery Dennison Co. (NYSE:AVY)

Albert D Mason Inc. cut its position in shares of Avery Dennison Co. (NYSE:AVY) by 1.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,334 shares of the industrial products company’s stock after selling 115 shares during the period. Albert D Mason Inc.’s holdings in Avery Dennison were worth $1,619,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Innealta Capital LLC purchased a new position in shares of Avery Dennison in the 2nd quarter valued at $28,000. Ashton Thomas Private Wealth LLC acquired a new position in Avery Dennison in the 2nd quarter worth about $42,000. 1620 Investment Advisors Inc. acquired a new position in Avery Dennison in the 2nd quarter worth about $51,000. Raleigh Capital Management Inc. increased its stake in Avery Dennison by 1,400.0% during the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the industrial products company’s stock worth $56,000 after buying an additional 238 shares in the last quarter. Finally, Palisade Asset Management LLC purchased a new stake in Avery Dennison during the 1st quarter worth approximately $64,000. 94.17% of the stock is owned by institutional investors.

Avery Dennison Stock Performance

Shares of AVY stock opened at $212.45 on Wednesday. The stock has a market capitalization of $17.11 billion, a PE ratio of 31.01, a price-to-earnings-growth ratio of 1.78 and a beta of 0.88. Avery Dennison Co. has a 52-week low of $165.21 and a 52-week high of $233.48. The stock’s 50-day moving average price is $217.03 and its 200 day moving average price is $218.70. 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 (NYSE:AVY) last released its earnings results 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 company had revenue of $2.24 billion for the quarter, compared to analysts’ expectations of $2.18 billion. Avery Dennison had a return on equity of 33.44% and a net margin of 7.34%. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.92 EPS. As a group, equities research analysts forecast that Avery Dennison Co. will post 9.41 EPS for the current year.

Avery Dennison Dividend Announcement

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 annualized dividend and a dividend yield of 1.66%. The ex-dividend date was Wednesday, September 4th. Avery Dennison’s dividend payout ratio (DPR) is 51.39%.

Insider Activity at Avery Dennison

In other Avery Dennison news, Chairman Mitchell R. Butier sold 7,108 shares of the business’s stock in a transaction 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 completion of the transaction, 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Chairman Mitchell R. Butier sold 7,108 shares of the stock in a transaction 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 completion of the sale, the chairman now directly owns 304,114 shares in the company, valued at approximately $66,333,345.68. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Mitchell R. Butier sold 10,000 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $214.21, for a total value of $2,142,100.00. Following the completion of the sale, the chairman now owns 304,114 shares of the company’s stock, valued at approximately $65,144,259.94. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 59,108 shares of company stock valued at $12,545,087. 1.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on AVY. Stifel Nicolaus started coverage on Avery Dennison in a research report on Tuesday, July 9th. They issued a “buy” rating and a $274.60 price target for the company. Bank of America upgraded 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 note on Thursday, October 17th. Barclays initiated coverage on Avery Dennison in a research note on Monday, October 7th. They issued an “overweight” rating and a $250.00 price objective on the stock. BMO Capital Markets reiterated an “outperform” rating and issued a $252.00 price objective (down from $254.00) on shares of Avery Dennison in a research note on Thursday, September 19th. Finally, UBS Group downgraded Avery Dennison from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $262.00 to $235.00 in a report on Thursday, July 25th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Avery Dennison currently has a consensus rating of “Moderate Buy” and a consensus target price of $246.78.

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.