Avery Dennison Co. (NYSE:AVY) Shares Purchased by SYSTM Wealth Solutions LLC

SYSTM Wealth Solutions LLC boosted its stake in Avery Dennison Co. (NYSE:AVY) by 1.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,515 shares of the industrial products company’s stock after purchasing an additional 400 shares during the period. Avery Dennison makes up about 1.5% of SYSTM Wealth Solutions LLC’s investment portfolio, making the stock its 14th biggest holding. SYSTM Wealth Solutions LLC’s holdings in Avery Dennison were worth $6,672,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. Innealta Capital LLC purchased a new position in Avery Dennison in the 2nd quarter valued at about $28,000. Ashton Thomas Private Wealth LLC purchased a new position in Avery Dennison in the 2nd quarter valued at about $42,000. 1620 Investment Advisors Inc. purchased a new position in Avery Dennison in the 2nd quarter valued at about $51,000. Palisade Asset Management LLC purchased a new position in Avery Dennison in the 1st quarter valued at about $64,000. Finally, Versant Capital Management Inc boosted its position in Avery Dennison by 936.7% in the 2nd quarter. Versant Capital Management Inc now owns 311 shares of the industrial products company’s stock valued at $68,000 after buying an additional 281 shares during the last quarter. 94.17% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Avery Dennison

In other Avery Dennison news, Chairman Mitchell R. Butier sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $202.95, for a total value of $608,850.00. Following the sale, the chairman now owns 304,114 shares in the company, valued at $61,719,936.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Avery Dennison news, Chairman Mitchell R. Butier sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $202.95, for a total value of $608,850.00. Following the sale, the chairman now owns 304,114 shares in the company, valued at $61,719,936.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Mitchell R. Butier sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $213.75, for a total transaction of $2,137,500.00. Following the transaction, the chairman now owns 304,114 shares in the company, valued at approximately $65,004,367.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 59,108 shares of company stock worth $12,545,087. 1.10% of the stock is owned by company insiders.

Avery Dennison Price Performance

AVY opened at $220.20 on Wednesday. The firm has a market cap of $17.74 billion, a price-to-earnings ratio of 32.15, a price-to-earnings-growth ratio of 1.81 and a beta of 0.88. Avery Dennison Co. has a fifty-two week low of $165.21 and a fifty-two week high of $233.48. The company’s 50-day moving average price is $215.93 and its 200 day moving average price is $218.92. 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 quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $2.42 earnings per share for the quarter, topping the consensus estimate of $2.26 by $0.16. The firm had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.18 billion. Avery Dennison had a net margin of 7.34% and a return on equity of 33.44%. Avery Dennison’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.92 earnings per share. As a group, sell-side analysts expect that Avery Dennison Co. will post 9.41 earnings per share for the current year.

Avery Dennison Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th will be paid a $0.88 dividend. The ex-dividend date is Wednesday, September 4th. This represents a $3.52 annualized dividend and a dividend yield of 1.60%. Avery Dennison’s payout ratio is currently 51.39%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on AVY shares. Stifel Nicolaus started coverage on shares of Avery Dennison in a research report on Tuesday, July 9th. They issued a “buy” rating and a $274.60 price objective for the company. Robert W. Baird increased their price target on shares of Avery Dennison from $230.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, June 7th. Truist Financial increased their price target on shares of Avery Dennison from $253.00 to $258.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. UBS Group cut shares of Avery Dennison from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $262.00 to $235.00 in a research report on Thursday, July 25th. Finally, Citigroup increased their price target on shares of Avery Dennison from $230.00 to $241.00 and gave the stock a “neutral” rating in a research report on Monday, July 8th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $239.96.

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.