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

Cumberland Partners Ltd lowered its stake in shares of Avery Dennison Co. (NYSE:AVY) by 1.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. 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 reporting period.

Several other large investors have also recently bought and sold shares of AVY. Swedbank AB acquired a new position in shares of Avery Dennison in the first quarter valued at $102,117,000. National Bank of Canada FI raised its stake in shares of Avery Dennison by 795.2% in 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 buying an additional 142,348 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in shares of Avery Dennison by 179.5% during 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 acquiring an additional 138,808 shares in the last quarter. Bahl & Gaynor Inc. increased its stake in Avery Dennison by 51.9% in the second quarter. Bahl & Gaynor Inc. now owns 240,096 shares of the industrial products company’s stock valued at $52,497,000 after acquiring an additional 81,993 shares during the period. Finally, Acadian Asset Management LLC raised its position in Avery Dennison by 3,517.1% in the second quarter. Acadian Asset Management LLC now owns 80,987 shares of the industrial products company’s stock worth $17,701,000 after purchasing an additional 78,748 shares in the last quarter. 94.17% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Chairman Mitchell R. Butier sold 10,000 shares of the 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 completion of the transaction, the chairman now 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 the SEC website. In other news, Chairman Mitchell R. Butier sold 7,108 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at $66,333,345.68. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman Mitchell R. Butier sold 10,000 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the chairman now directly owns 304,114 shares of the company’s stock, valued at $64,444,797.74. This 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 over the last quarter. 1.10% of the stock is owned by company insiders.

Avery Dennison Stock Performance

Shares of NYSE:AVY traded up $0.60 on Tuesday, hitting $205.18. The company had a trading volume of 25,192 shares, compared to its average volume of 465,370. Avery Dennison Co. has a 1-year low of $178.29 and a 1-year high of $233.48. The stock has a market cap of $16.49 billion, a price-to-earnings ratio of 24.63, a P/E/G ratio of 1.58 and a beta of 0.89. The stock has a 50 day moving average price of $214.22 and a 200 day moving average price of $218.01. 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 (NYSE:AVY) last released its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $2.33 EPS for the quarter, beating the consensus estimate of $2.32 by $0.01. Avery Dennison had a net margin of 7.76% and a return on equity of 33.01%. The firm had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.20 billion. During the same period in the previous year, the company earned $2.10 earnings per share. The company’s quarterly revenue was up 4.1% on a year-over-year basis. Analysts expect 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 given a dividend of $0.88 per share. The ex-dividend date is Wednesday, December 4th. This represents a $3.52 annualized dividend and a yield of 1.72%. Avery Dennison’s dividend payout ratio is 42.26%.

Analyst Upgrades and Downgrades

AVY has been the subject of a number of recent research reports. Citigroup dropped their target price on Avery Dennison from $241.00 to $240.00 and set a “neutral” rating for the company in a report on Wednesday, October 2nd. 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 research note on Monday, October 28th. StockNews.com cut Avery Dennison from a “buy” rating to a “hold” rating in a report on Thursday, October 24th. Bank of America upgraded Avery Dennison from an “underperform” rating to a “buy” rating and increased their target price for the stock from $207.00 to $250.00 in a report on Thursday, October 17th. Finally, Truist Financial lifted their price target on Avery Dennison from $253.00 to $258.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $244.96.

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.