Cumberland Partners Ltd Has $6.64 Million Holdings in Avery Dennison Co. (NYSE:AVY)

Cumberland Partners Ltd lessened its position in shares of Avery Dennison Co. (NYSE:AVY) by 1.4% in the third quarter, HoldingsChannel.com reports. The firm owned 30,054 shares of the industrial products company’s stock after selling 421 shares during the quarter. Cumberland Partners Ltd’s holdings in Avery Dennison were worth $6,635,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Innealta Capital LLC acquired a new stake in shares of Avery Dennison during the 2nd quarter worth approximately $28,000. Kennebec Savings Bank acquired a new stake in shares of Avery Dennison during the 3rd quarter worth approximately $36,000. Ashton Thomas Private Wealth LLC bought a new position in shares of Avery Dennison in the 2nd quarter worth $42,000. 1620 Investment Advisors Inc. bought a new position in shares of Avery Dennison in the 2nd quarter worth $51,000. Finally, Raleigh Capital Management Inc. lifted its holdings in shares of Avery Dennison by 1,400.0% in the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the industrial products company’s stock worth $56,000 after purchasing an additional 238 shares in the last quarter. Institutional investors and hedge funds own 94.17% of the company’s stock.

Avery Dennison Stock Performance

Shares of NYSE AVY traded up $0.60 during mid-day trading on Tuesday, reaching $205.18. 25,192 shares of the company’s stock were exchanged, compared to its average volume of 465,370. The firm has a market capitalization of $16.49 billion, a price-to-earnings ratio of 24.63, a price-to-earnings-growth ratio of 1.58 and a beta of 0.89. Avery Dennison Co. has a 52 week low of $178.29 and a 52 week high of $233.48. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.92 and a quick ratio of 0.62. The firm has a 50-day moving average price of $214.22 and a two-hundred day moving average price of $218.01.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share for the quarter, topping the consensus estimate of $2.32 by $0.01. Avery Dennison had a return on equity of 33.01% and a net margin of 7.76%. The company had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.20 billion. During the same quarter last year, the firm posted $2.10 EPS. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. Analysts predict that Avery Dennison Co. will post 9.42 EPS for the current year.

Avery Dennison Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be issued a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.72%. The ex-dividend date of this dividend is Wednesday, December 4th. Avery Dennison’s dividend payout ratio (DPR) is currently 42.26%.

Insider Buying and Selling at Avery Dennison

In other Avery Dennison news, Chairman Mitchell R. Butier sold 7,108 shares of Avery Dennison stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $218.12, for a total transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Chairman Mitchell R. Butier sold 7,108 shares of Avery Dennison stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $218.12, for a total transaction of $1,550,396.96. Following the completion of the sale, the chairman now owns 304,114 shares in the company, valued at approximately $66,333,345.68. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Mitchell R. Butier sold 10,000 shares of Avery Dennison stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $211.91, for a total value of $2,119,100.00. Following the sale, the chairman now owns 304,114 shares of the company’s stock, valued at approximately $64,444,797.74. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 37,108 shares of company stock valued at $7,940,597 in the last quarter. 1.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

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.