Avery Dennison Co. (NYSE:AVY) Shares Bought by Entropy Technologies LP

Entropy Technologies LP increased its position in shares of Avery Dennison Co. (NYSE:AVY) by 127.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,568 shares of the industrial products company’s stock after acquiring an additional 11,530 shares during the quarter. Entropy Technologies LP’s holdings in Avery Dennison were worth $4,541,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of AVY. Swedbank AB acquired a new position in shares of Avery Dennison during the 1st quarter valued at about $102,117,000. National Bank of Canada FI boosted its position in shares of Avery Dennison by 795.2% during the 2nd quarter. National Bank of Canada FI now owns 160,248 shares of the industrial products company’s stock valued at $34,190,000 after acquiring an additional 142,348 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in Avery Dennison by 179.5% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 216,135 shares of the industrial products company’s stock valued at $47,258,000 after buying an additional 138,808 shares during the period. Bahl & Gaynor Inc. raised its holdings in Avery Dennison by 51.9% in the 2nd quarter. Bahl & Gaynor Inc. now owns 240,096 shares of the industrial products company’s stock valued at $52,497,000 after buying an additional 81,993 shares during the period. Finally, Acadian Asset Management LLC raised its holdings in Avery Dennison by 3,517.1% in the 2nd quarter. Acadian Asset Management LLC now owns 80,987 shares of the industrial products company’s stock valued at $17,701,000 after buying an additional 78,748 shares during the period. Institutional investors and hedge funds own 94.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AVY. 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 report on Wednesday, July 24th. StockNews.com lowered shares of Avery Dennison from a “buy” rating to a “hold” rating in a research note on Thursday, October 24th. Barclays cut their price target on shares of Avery Dennison from $250.00 to $245.00 and set an “overweight” rating on the stock in a research note on Monday, October 28th. UBS Group lowered shares of Avery Dennison from a “buy” rating to a “neutral” rating and cut their price target for the stock from $262.00 to $235.00 in a research note on Thursday, July 25th. Finally, Bank of America upgraded shares of Avery Dennison from an “underperform” rating to a “buy” rating and upped their target price for the stock from $207.00 to $250.00 in a research note on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $244.96.

Avery Dennison Stock Performance

Shares of AVY opened at $204.72 on Tuesday. The stock has a 50 day moving average price of $214.56 and a 200 day moving average price of $218.09. The company has a quick ratio of 0.62, a current ratio of 0.92 and a debt-to-equity ratio of 0.85. The company has a market capitalization of $16.45 billion, a price-to-earnings ratio of 24.58, 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.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.32 by $0.01. The firm had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.20 billion. Avery Dennison had a return on equity of 33.01% and a net margin of 7.76%. The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same period in the prior year, the company posted $2.10 earnings per share. Research analysts predict 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. Stockholders of record on Wednesday, December 4th will be issued a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.72%. The ex-dividend date of this dividend is Wednesday, December 4th. Avery Dennison’s payout ratio is currently 42.26%.

Insider Activity

In other news, Chairman Mitchell R. Butier sold 10,000 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $211.91, for a total value of $2,119,100.00. Following the completion of the sale, the chairman now directly owns 304,114 shares of the company’s stock, valued at approximately $64,444,797.74. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Avery Dennison news, Chairman Mitchell R. Butier sold 7,108 shares of the 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 transaction, the chairman now owns 304,114 shares in the company, valued at approximately $66,333,345.68. This represents a 0.00 % decrease in their ownership of the stock. The transaction 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 the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $211.91, for a total value of $2,119,100.00. Following the completion of the transaction, the chairman now owns 304,114 shares of the company’s stock, valued at $64,444,797.74. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 37,108 shares of company stock valued at $7,940,597. 1.10% of the stock is currently 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.