Thompson Siegel & Walmsley LLC Acquires 3,328 Shares of Avery Dennison Co. (NYSE:AVY)

Thompson Siegel & Walmsley LLC raised its holdings in shares of Avery Dennison Co. (NYSE:AVY) by 21.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,728 shares of the industrial products company’s stock after acquiring an additional 3,328 shares during the quarter. Thompson Siegel & Walmsley LLC’s holdings in Avery Dennison were worth $4,095,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Taylor Frigon Capital Management LLC increased its position in Avery Dennison by 0.8% in the first quarter. Taylor Frigon Capital Management LLC now owns 6,386 shares of the industrial products company’s stock worth $1,426,000 after buying an additional 48 shares in the last quarter. Albert D Mason Inc. increased its holdings in Avery Dennison by 0.7% in the 1st quarter. Albert D Mason Inc. now owns 7,456 shares of the industrial products company’s stock worth $1,665,000 after acquiring an additional 51 shares in the last quarter. Condor Capital Management lifted its holdings in Avery Dennison by 0.4% during the fourth quarter. Condor Capital Management now owns 13,716 shares of the industrial products company’s stock valued at $2,773,000 after purchasing an additional 60 shares in the last quarter. Bailard Inc. lifted its holdings in Avery Dennison by 0.5% during the second quarter. Bailard Inc. now owns 12,202 shares of the industrial products company’s stock valued at $2,668,000 after purchasing an additional 61 shares in the last quarter. Finally, Czech National Bank boosted its position in shares of Avery Dennison by 0.5% in the first quarter. Czech National Bank now owns 14,169 shares of the industrial products company’s stock worth $3,163,000 after purchasing an additional 64 shares during the period. 94.17% of the stock is owned by institutional investors.

Avery Dennison Stock Performance

Avery Dennison stock opened at $219.42 on Monday. The company’s 50-day moving average price is $215.66 and its 200-day moving average price is $218.87. The company has a quick ratio of 0.60, a current ratio of 0.90 and a debt-to-equity ratio of 0.89. The company has a market cap of $17.67 billion, a PE ratio of 32.03, a price-to-earnings-growth ratio of 1.81 and a beta of 0.88. Avery Dennison Co. has a twelve month low of $165.21 and a twelve month high of $233.48.

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 firm had revenue of $2.24 billion during 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%. The business’s revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the business earned $1.92 EPS. On average, equities research analysts forecast 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 will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th will be issued a $0.88 dividend. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $3.52 annualized dividend and a dividend yield of 1.60%. Avery Dennison’s payout ratio is 51.39%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on AVY shares. Truist Financial lifted their target price 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. UBS Group lowered Avery Dennison from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $262.00 to $235.00 in a research note on Thursday, July 25th. Robert W. Baird boosted their price target on Avery Dennison from $230.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, June 7th. Stifel Nicolaus started coverage on shares of Avery Dennison in a report on Tuesday, July 9th. They set a “buy” rating and a $274.60 price objective for the company. Finally, BMO Capital Markets lowered their target price on shares of Avery Dennison from $256.00 to $254.00 and set an “outperform” rating on the stock in a report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $239.96.

Insider Buying and Selling

In other news, Chairman Mitchell R. Butier sold 10,000 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $213.75, for a total value of $2,137,500.00. Following the completion of the sale, the chairman now owns 304,114 shares in the company, valued at approximately $65,004,367.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Chairman Mitchell R. Butier sold 10,000 shares of Avery Dennison stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $213.75, for a total value of $2,137,500.00. Following the transaction, the chairman now directly owns 304,114 shares in the company, valued at approximately $65,004,367.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Mitchell R. Butier sold 3,000 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $205.76, for a total value of $617,280.00. Following the sale, the chairman now owns 304,114 shares of the company’s stock, valued at $62,574,496.64. The disclosure for this sale can be found here. Insiders sold a total of 59,108 shares of company stock valued at $12,545,087 over the last three months. 1.10% of the stock is owned by company insiders.

About Avery Dennison

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.