Lindenwold Advisors INC Has $2.27 Million Stock Holdings in Avery Dennison Co. (NYSE:AVY)

Lindenwold Advisors INC raised its stake in Avery Dennison Co. (NYSE:AVY) by 0.6% in the third quarter, Holdings Channel reports. The firm owned 10,266 shares of the industrial products company’s stock after acquiring an additional 59 shares during the quarter. Avery Dennison comprises approximately 1.1% of Lindenwold Advisors INC’s investment portfolio, making the stock its 28th biggest position. Lindenwold Advisors INC’s holdings in Avery Dennison were worth $2,266,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Victory Capital Management Inc. increased its holdings in Avery Dennison by 6.8% during the third quarter. Victory Capital Management Inc. now owns 1,416,798 shares of the industrial products company’s stock worth $312,772,000 after buying an additional 90,250 shares during the last quarter. Boston Partners lifted its stake in Avery Dennison by 3.6% in the 1st quarter. Boston Partners now owns 1,019,802 shares of the industrial products company’s stock valued at $227,660,000 after purchasing an additional 35,538 shares during the last quarter. Meridiem Investment Management Ltd. grew its holdings in Avery Dennison by 0.7% during the third quarter. Meridiem Investment Management Ltd. now owns 794,092 shares of the industrial products company’s stock worth $175,261,000 after purchasing an additional 5,756 shares during the period. Dimensional Fund Advisors LP increased its position in Avery Dennison by 4.3% during the second quarter. Dimensional Fund Advisors LP now owns 787,716 shares of the industrial products company’s stock worth $172,254,000 after buying an additional 32,467 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Avery Dennison by 2.7% in the second quarter. Bank of New York Mellon Corp now owns 646,223 shares of the industrial products company’s stock valued at $141,297,000 after buying an additional 17,158 shares during the last quarter. Institutional investors own 94.17% of the company’s stock.

Avery Dennison Stock Up 0.3 %

Shares of NYSE AVY opened at $198.31 on Tuesday. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.92 and a quick ratio of 0.62. Avery Dennison Co. has a 1 year low of $186.66 and a 1 year high of $233.48. The stock has a market capitalization of $15.93 billion, a P/E ratio of 23.81, a P/E/G ratio of 1.52 and a beta of 0.89. The company has a 50-day moving average price of $212.79 and a 200-day moving average price of $217.52.

Avery Dennison (NYSE:AVY) last released its quarterly earnings results 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. Avery Dennison had a return on equity of 33.01% and a net margin of 7.76%. The business had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.20 billion. During the same period in the prior year, the firm posted $2.10 EPS. Avery Dennison’s quarterly revenue was up 4.1% compared to the same quarter last year. On average, equities research analysts forecast that Avery Dennison Co. will post 9.42 EPS for the current fiscal year.

Avery Dennison Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date is Wednesday, December 4th. Avery Dennison’s payout ratio is 42.26%.

Insider Buying and Selling at Avery Dennison

In other Avery Dennison news, Chairman Mitchell R. Butier sold 10,000 shares of the firm’s stock in a transaction on 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 completion of the sale, the chairman now directly owns 304,114 shares of the company’s stock, valued at $65,144,259.94. This trade represents a 3.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

AVY has been the topic of a number of recent analyst reports. StockNews.com lowered Avery Dennison from a “buy” rating to a “hold” rating in a report on Thursday, October 24th. Barclays decreased their price objective on shares of Avery Dennison from $250.00 to $245.00 and set an “overweight” rating on the stock in a report on Monday, October 28th. Bank of America upgraded shares of Avery Dennison from an “underperform” rating to a “buy” rating and raised their target price for the stock from $207.00 to $250.00 in a research note on Thursday, October 17th. Truist Financial upped their price target on shares of Avery Dennison from $253.00 to $258.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Finally, UBS Group downgraded shares of Avery Dennison from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $262.00 to $235.00 in a research report on Thursday, July 25th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $244.96.

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.