James Investment Research Inc. Sells 445 Shares of Avery Dennison Co. (NYSE:AVY)

James Investment Research Inc. trimmed its holdings in shares of Avery Dennison Co. (NYSE:AVY) by 2.1% in the third quarter, according to its most recent filing with the SEC. The firm owned 20,569 shares of the industrial products company’s stock after selling 445 shares during the period. James Investment Research Inc.’s holdings in Avery Dennison were worth $4,541,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Intech Investment Management LLC raised its position in shares of Avery Dennison by 3.3% in the second quarter. Intech Investment Management LLC now owns 1,559 shares of the industrial products company’s stock valued at $341,000 after purchasing an additional 50 shares during the period. Procyon Advisors LLC increased its position in Avery Dennison by 4.0% during the third quarter. Procyon Advisors LLC now owns 1,442 shares of the industrial products company’s stock worth $319,000 after acquiring an additional 56 shares during the period. Bailard Inc. increased its holdings in Avery Dennison by 0.5% in the 2nd quarter. Bailard Inc. now owns 12,202 shares of the industrial products company’s stock valued at $2,668,000 after buying an additional 61 shares during the period. Legacy Wealth Asset Management LLC increased its holdings in Avery Dennison by 4.5% in the 3rd quarter. Legacy Wealth Asset Management LLC now owns 1,479 shares of the industrial products company’s stock valued at $327,000 after buying an additional 64 shares during the period. Finally, Great Diamond Partners LLC increased its holdings in Avery Dennison by 1.7% in the 1st quarter. Great Diamond Partners LLC now owns 4,269 shares of the industrial products company’s stock valued at $953,000 after buying an additional 72 shares during the period. 94.17% of the stock is owned by institutional investors.

Insider Activity

In related news, Chairman Mitchell R. Butier sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $205.76, for a total value of $617,280.00. Following the transaction, the chairman now directly owns 304,114 shares in the company, valued at approximately $62,574,496.64. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Chairman Mitchell R. Butier sold 3,000 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $205.76, for a total transaction of $617,280.00. Following the completion of the sale, the chairman now owns 304,114 shares of the company’s stock, valued at approximately $62,574,496.64. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Mitchell R. Butier sold 7,108 shares of the firm’s stock in a transaction on 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 sale, the chairman now directly 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 disclosure for this sale can be found here. Insiders have sold a total of 49,108 shares of company stock worth $10,407,587 over the last ninety days. Company insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Stifel Nicolaus assumed 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 lifted their target price 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. Citigroup cut their target price on shares of Avery Dennison from $241.00 to $240.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. downgraded shares of 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 research report on Thursday, October 24th. Finally, UBS Group downgraded shares of Avery Dennison from a “buy” rating to a “neutral” rating and cut their target price for the stock from $262.00 to $235.00 in a research report on Thursday, July 25th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $244.96.

Avery Dennison Stock Performance

Shares of AVY stock opened at $206.19 on Friday. The firm has a market capitalization of $16.57 billion, a PE ratio of 24.75, a price-to-earnings-growth ratio of 1.60 and a beta of 0.88. The firm has a fifty day simple moving average of $215.91 and a two-hundred day simple moving average of $218.19. The company has a current ratio of 0.92, a quick ratio of 0.62 and a debt-to-equity ratio of 0.85. Avery Dennison Co. has a 12 month low of $175.10 and a 12 month high of $233.48.

Avery Dennison (NYSE:AVY) last posted its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.32 by $0.01. The firm had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.20 billion. Avery Dennison had a net margin of 7.76% and a return on equity of 33.01%. The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.10 EPS. Analysts forecast that Avery Dennison Co. will post 9.41 EPS for the current fiscal year.

Avery Dennison Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 1.71%. The ex-dividend date of this dividend is Wednesday, December 4th. Avery Dennison’s dividend payout ratio is presently 42.26%.

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.