Oppenheimer Asset Management Inc. Sells 7,229 Shares of Avery Dennison Co. (NYSE:AVY)

Oppenheimer Asset Management Inc. decreased its holdings in Avery Dennison Co. (NYSE:AVY - Free Report) by 70.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,030 shares of the industrial products company's stock after selling 7,229 shares during the period. Oppenheimer Asset Management Inc.'s holdings in Avery Dennison were worth $669,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of AVY. Intech Investment Management LLC grew its stake in Avery Dennison by 3.3% during the second quarter. Intech Investment Management LLC now owns 1,559 shares of the industrial products company's stock valued at $341,000 after acquiring an additional 50 shares in the last quarter. Procyon Advisors LLC grew its stake in Avery Dennison by 4.0% in the 3rd quarter. Procyon Advisors LLC now owns 1,442 shares of the industrial products company's stock worth $319,000 after buying an additional 56 shares in the last quarter. Bailard Inc. grew its stake in Avery Dennison by 0.5% in the 2nd quarter. Bailard Inc. now owns 12,202 shares of the industrial products company's stock worth $2,668,000 after buying an additional 61 shares in the last quarter. Legacy Wealth Asset Management LLC grew its stake 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 worth $327,000 after buying an additional 64 shares in the last quarter. Finally, Baker Avenue Asset Management LP grew its stake in Avery Dennison by 7.1% in the 3rd quarter. Baker Avenue Asset Management LP now owns 1,041 shares of the industrial products company's stock worth $230,000 after buying an additional 69 shares in the last quarter. Hedge funds and other institutional investors own 94.17% of the company's stock.

Avery Dennison Trading Up 0.3 %

Shares of NYSE:AVY traded up $0.64 on Wednesday, hitting $197.64. The company had a trading volume of 493,930 shares, compared to its average volume of 468,132. The firm's 50-day simple moving average is $211.92 and its two-hundred day simple moving average is $217.20. Avery Dennison Co. has a 1 year low of $187.93 and a 1 year high of $233.48. 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 firm has a market capitalization of $15.88 billion, a price-to-earnings ratio of 23.65, a P/E/G ratio of 1.52 and a beta of 0.89.

Avery Dennison (NYSE:AVY - Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.32 by $0.01. The company had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.20 billion. Avery Dennison had a net margin of 7.76% and a return on equity of 33.01%. Avery Dennison's quarterly revenue was up 4.1% compared to the same quarter last year. During the same period last year, the business earned $2.10 EPS. Equities analysts anticipate that Avery Dennison Co. will post 9.42 earnings per share 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 paid a $0.88 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.78%. Avery Dennison's dividend payout ratio is presently 42.26%.

Insider Transactions at Avery Dennison

In other Avery Dennison news, Chairman Mitchell R. Butier sold 7,108 shares of Avery Dennison stock in a transaction that occurred on 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 transaction, the chairman now owns 304,114 shares of the company's stock, valued at $66,333,345.68. The trade was a 2.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.10% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Truist Financial boosted their price target on shares of Avery Dennison from $253.00 to $258.00 and gave the stock a "buy" rating in a research note on Wednesday, July 24th. UBS Group lowered shares of Avery Dennison from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $262.00 to $235.00 in a report on Thursday, July 25th. Citigroup cut 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 note on Wednesday, October 2nd. JPMorgan Chase & Co. cut shares of Avery Dennison from an "overweight" rating to a "neutral" rating and cut their price objective for the company from $230.00 to $210.00 in a research note on Thursday, October 24th. Finally, Barclays cut their price objective on shares of Avery Dennison from $250.00 to $245.00 and set an "overweight" rating for the company in a research note on Monday, October 28th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $244.96.

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.