HTLF Bank Has $302,000 Position in Avery Dennison Co. (NYSE:AVY)

HTLF Bank decreased its stake in Avery Dennison Co. (NYSE:AVY) by 8.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,369 shares of the industrial products company’s stock after selling 122 shares during the period. HTLF Bank’s holdings in Avery Dennison were worth $302,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in AVY. Victory Capital Management Inc. increased its position in Avery Dennison by 2.1% during the 2nd quarter. Victory Capital Management Inc. now owns 1,326,548 shares of the industrial products company’s stock valued at $290,050,000 after purchasing an additional 27,771 shares during the period. Boston Partners increased its position in shares of Avery Dennison by 3.6% during the first quarter. Boston Partners now owns 1,019,802 shares of the industrial products company’s stock worth $227,660,000 after buying an additional 35,538 shares during the period. Dimensional Fund Advisors LP raised its stake in Avery Dennison by 4.3% during the second quarter. Dimensional Fund Advisors LP now owns 787,716 shares of the industrial products company’s stock worth $172,254,000 after buying an additional 32,467 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Avery Dennison by 2.7% during the second quarter. Bank of New York Mellon Corp now owns 646,223 shares of the industrial products company’s stock valued at $141,297,000 after acquiring an additional 17,158 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in Avery Dennison by 1.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 590,320 shares of the industrial products company’s stock worth $129,074,000 after acquiring an additional 6,773 shares during the period. 94.17% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on AVY. BMO Capital Markets reissued an “outperform” rating and issued a $252.00 price objective (down from $254.00) on shares of Avery Dennison in a research note on Thursday, September 19th. Stifel Nicolaus began coverage on shares of Avery Dennison in a research report on Tuesday, July 9th. They set a “buy” rating and a $274.60 price objective for the company. Truist Financial boosted their target price on shares of Avery Dennison from $253.00 to $258.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Citigroup decreased their price target on shares of Avery Dennison from $241.00 to $240.00 and set a “neutral” rating for the company in a research note on Wednesday, October 2nd. Finally, Barclays assumed coverage on shares of Avery Dennison in a research report on Monday, October 7th. They set an “overweight” rating and a $250.00 price objective on the stock. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $242.96.

Avery Dennison Stock Down 0.3 %

Shares of NYSE AVY opened at $219.86 on Wednesday. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.90 and a quick ratio of 0.60. Avery Dennison Co. has a 1 year low of $165.21 and a 1 year high of $233.48. The stock has a market capitalization of $17.71 billion, a P/E ratio of 32.10, a P/E/G ratio of 1.78 and a beta of 0.88. The company has a 50-day moving average price of $216.15 and a 200-day moving average price of $218.86.

Avery Dennison (NYSE:AVY) last released its quarterly earnings results 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. The business had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.18 billion. Avery Dennison had a return on equity of 33.44% and a net margin of 7.34%. The company’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous 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 Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th were given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date was Wednesday, September 4th. Avery Dennison’s payout ratio is currently 51.39%.

Insider Buying and Selling at Avery Dennison

In other news, Chairman Mitchell R. Butier sold 3,000 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $202.95, for a total value of $608,850.00. Following the completion of the sale, the chairman now owns 304,114 shares in the company, valued at $61,719,936.30. 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 available at this hyperlink. In related news, Chairman Mitchell R. Butier sold 3,000 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $202.95, for a total transaction of $608,850.00. Following the transaction, the chairman now directly owns 304,114 shares in the company, valued at approximately $61,719,936.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Mitchell R. Butier sold 10,000 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $212.90, for a total transaction of $2,129,000.00. Following the completion of the sale, the chairman now owns 304,114 shares of the company’s stock, valued at approximately $64,745,870.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 59,108 shares of company stock worth $12,545,087. Corporate insiders own 1.10% of the company’s stock.

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.