CHICAGO TRUST Co NA Has $1.41 Million Holdings in Avery Dennison Co. (NYSE:AVY)

CHICAGO TRUST Co NA trimmed its stake in shares of Avery Dennison Co. (NYSE:AVY) by 2.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,384 shares of the industrial products company’s stock after selling 169 shares during the period. CHICAGO TRUST Co NA’s holdings in Avery Dennison were worth $1,409,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of AVY. Innealta Capital LLC acquired a new position in Avery Dennison during the 2nd quarter worth $28,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of Avery Dennison during the second quarter valued at $42,000. 1620 Investment Advisors Inc. bought a new position in Avery Dennison in the second quarter valued at about $51,000. Palisade Asset Management LLC acquired a new stake in Avery Dennison in the first quarter worth about $64,000. Finally, Versant Capital Management Inc raised its holdings in Avery Dennison by 936.7% during the 2nd quarter. Versant Capital Management Inc now owns 311 shares of the industrial products company’s stock worth $68,000 after purchasing an additional 281 shares during the last quarter. 94.17% of the stock is owned by institutional investors.

Insider Activity at Avery Dennison

In related news, Chairman Mitchell R. Butier sold 7,108 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $218.12, for a total transaction of $1,550,396.96. Following the completion of the transaction, the chairman now directly owns 304,114 shares of the company’s stock, valued at approximately $66,333,345.68. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Avery Dennison news, Chairman Mitchell R. Butier sold 3,000 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $202.95, for a total transaction of $608,850.00. Following the sale, the chairman now directly owns 304,114 shares of the company’s stock, valued at approximately $61,719,936.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Mitchell R. Butier sold 7,108 shares of Avery Dennison stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $218.12, for a total transaction of $1,550,396.96. Following the completion of the transaction, the chairman now directly owns 304,114 shares of the company’s stock, valued at approximately $66,333,345.68. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 59,108 shares of company stock valued at $12,545,087. 1.10% of the stock is owned by insiders.

Avery Dennison Stock Up 1.4 %

NYSE:AVY opened at $218.03 on Friday. The company has a market cap of $17.56 billion, a PE ratio of 31.83, a PEG ratio of 1.78 and a beta of 0.88. The stock has a 50-day simple moving average of $215.50 and a 200 day simple moving average of $218.94. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.60 and a current ratio of 0.90. Avery Dennison Co. has a 52-week low of $165.21 and a 52-week high of $233.48.

Avery Dennison (NYSE:AVY) last posted its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.16. Avery Dennison had a net margin of 7.34% and a return on equity of 33.44%. The company had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.18 billion. During the same period last year, the company earned $1.92 earnings per share. The firm’s revenue was up 6.9% compared to the same quarter last year. On average, sell-side analysts expect that Avery Dennison Co. will post 9.41 EPS for the current fiscal year.

Avery Dennison Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th were issued a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend was Wednesday, September 4th. Avery Dennison’s payout ratio is 51.39%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. BMO Capital Markets reaffirmed an “outperform” rating and issued a $252.00 target price (down previously from $254.00) on shares of Avery Dennison in a research note on Thursday, September 19th. UBS Group downgraded Avery Dennison from a “buy” rating to a “neutral” rating and cut their price target for the company from $262.00 to $235.00 in a research note on Thursday, July 25th. Stifel Nicolaus initiated coverage on Avery Dennison in a research report on Tuesday, July 9th. They set a “buy” rating and a $274.60 target price for the company. Citigroup lowered their price objective on shares of Avery Dennison from $241.00 to $240.00 and set a “neutral” rating for the company in a research report on Wednesday, October 2nd. Finally, Barclays started coverage on Avery Dennison in a report on Monday, October 7th. They set an “overweight” rating and a $250.00 target price on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Avery Dennison currently has a consensus rating of “Moderate Buy” and an average target price of $242.96.

Avery Dennison Company 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.