USA Financial Formulas Sells 62 Shares of Avery Dennison Co. (NYSE:AVY)

USA Financial Formulas lowered its holdings in shares of Avery Dennison Co. (NYSE:AVY) by 8.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 650 shares of the industrial products company’s stock after selling 62 shares during the quarter. USA Financial Formulas’ holdings in Avery Dennison were worth $143,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Innealta Capital LLC bought a new position in Avery Dennison during the second quarter valued at $28,000. Ashton Thomas Private Wealth LLC bought a new position in Avery Dennison during the 2nd quarter valued at about $42,000. 1620 Investment Advisors Inc. purchased a new stake in Avery Dennison in the 2nd quarter worth about $51,000. Palisade Asset Management LLC bought a new stake in Avery Dennison in the first quarter worth about $64,000. Finally, Versant Capital Management Inc raised its holdings 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 buying an additional 281 shares during the period. 94.17% of the stock is currently owned by institutional investors.

Avery Dennison Trading Down 0.3 %

Avery Dennison stock opened at $215.07 on Friday. Avery Dennison Co. has a one year low of $165.21 and a one year high of $233.48. The stock has a market cap of $17.32 billion, a PE ratio of 31.40, a price-to-earnings-growth ratio of 1.78 and a beta of 0.88. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.60 and a current ratio of 0.90. The stock has a 50-day moving average of $215.33 and a two-hundred day moving average of $218.96.

Avery Dennison (NYSE:AVY) last released its earnings results 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 company had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.18 billion. Avery Dennison had a net margin of 7.34% and a return on equity of 33.44%. Avery Dennison’s revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.92 EPS. On average, research analysts anticipate that Avery Dennison Co. will post 9.41 EPS for the current fiscal year.

Avery Dennison Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th were issued a $0.88 dividend. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $3.52 annualized dividend and a yield of 1.64%. Avery Dennison’s dividend payout ratio (DPR) is presently 51.39%.

Insiders Place Their Bets

In other news, Chairman Mitchell R. Butier sold 7,108 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $218.12, for a total value of $1,550,396.96. Following the sale, the chairman now directly owns 304,114 shares of the company’s stock, valued at $66,333,345.68. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Chairman Mitchell R. Butier sold 7,108 shares of the business’s stock in a transaction dated 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 owns 304,114 shares of the company’s stock, valued at $66,333,345.68. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Mitchell R. Butier sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $214.21, for a total value of $2,142,100.00. Following the sale, the chairman now directly owns 304,114 shares in the company, valued at approximately $65,144,259.94. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 59,108 shares of company stock valued at $12,545,087. 1.10% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have commented on the company. UBS Group downgraded Avery Dennison from a “buy” rating to a “neutral” rating and cut their price objective for the company from $262.00 to $235.00 in a research report on Thursday, July 25th. Stifel Nicolaus initiated coverage on shares of Avery Dennison in a research note on Tuesday, July 9th. They issued a “buy” rating and a $274.60 price target on the stock. Truist Financial boosted their price objective on shares of Avery Dennison from $253.00 to $258.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. BMO Capital Markets reaffirmed an “outperform” rating and set a $252.00 target price (down from $254.00) on shares of Avery Dennison in a research report on Thursday, September 19th. Finally, Citigroup lowered their price target on Avery Dennison from $241.00 to $240.00 and set a “neutral” rating for the company in a report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Avery Dennison has an average rating of “Moderate Buy” and a consensus target price of $242.96.

Avery Dennison Company 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.