Entropy Technologies LP Has $4.54 Million Stake in Avery Dennison Co. (NYSE:AVY)

Entropy Technologies LP increased its stake in Avery Dennison Co. (NYSE:AVY - Free Report) by 127.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 20,568 shares of the industrial products company's stock after purchasing an additional 11,530 shares during the period. Entropy Technologies LP's holdings in Avery Dennison were worth $4,541,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AVY. Cetera Investment Advisers increased its holdings in shares of Avery Dennison by 195.2% during the first quarter. Cetera Investment Advisers now owns 17,863 shares of the industrial products company's stock valued at $3,988,000 after acquiring an additional 11,811 shares in the last quarter. Natixis raised its holdings in shares of Avery Dennison by 365.9% during the 1st quarter. Natixis now owns 4,552 shares of the industrial products company's stock valued at $1,016,000 after buying an additional 3,575 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of Avery Dennison by 86.5% during the 2nd quarter. SG Americas Securities LLC now owns 32,538 shares of the industrial products company's stock valued at $7,114,000 after buying an additional 15,092 shares in the last quarter. McElhenny Sheffield Capital Management LLC purchased a new position in Avery Dennison in the 2nd quarter worth approximately $543,000. Finally, Swedbank AB increased its stake in Avery Dennison by 1.0% in the 2nd quarter. Swedbank AB now owns 462,083 shares of the industrial products company's stock worth $101,034,000 after purchasing an additional 4,673 shares during the period. Institutional investors own 94.17% of the company's stock.

Insider Activity

In related news, Chairman Mitchell R. Butier sold 7,108 shares of the firm's stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $218.12, for a total value of $1,550,396.96. Following the transaction, the chairman now directly owns 304,114 shares in the company, valued at approximately $66,333,345.68. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, Chairman Mitchell R. Butier sold 10,000 shares of the firm's stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $211.91, for a total transaction 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 approximately $64,444,797.74. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 transaction, the chairman now directly 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,108 shares of company stock worth $7,940,597. 1.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on AVY shares. UBS Group lowered Avery Dennison from a "buy" rating to a "neutral" rating and dropped their price target for the company from $262.00 to $235.00 in a research report on Thursday, July 25th. BMO Capital Markets reduced their price target on Avery Dennison from $252.00 to $247.00 and set an "outperform" rating on the stock in a report on Thursday, October 24th. StockNews.com cut Avery Dennison from a "buy" rating to a "hold" rating in a research report on Thursday, October 24th. Truist Financial boosted their target price on Avery Dennison from $253.00 to $258.00 and gave the stock a "buy" rating in a report on Wednesday, July 24th. Finally, Citigroup cut their price objective on Avery Dennison from $241.00 to $240.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 2nd. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $244.96.

Avery Dennison Stock Performance

NYSE AVY traded down $2.08 on Tuesday, hitting $202.50. The stock had a trading volume of 458,394 shares, compared to its average volume of 467,220. Avery Dennison Co. has a one year low of $178.29 and a one 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 stock has a market cap of $16.27 billion, a price-to-earnings ratio of 24.63, a P/E/G ratio of 1.58 and a beta of 0.89. The company's 50-day moving average is $214.22 and its two-hundred day moving average is $218.01.

Avery Dennison (NYSE:AVY - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.32 by $0.01. The business had revenue of $2.18 billion during the quarter, compared to analysts' expectations of $2.20 billion. Avery Dennison had a net margin of 7.76% and a return on equity of 33.01%. The business's revenue was up 4.1% on a year-over-year basis. During the same period last year, the firm posted $2.10 earnings per share. On average, analysts expect that Avery Dennison Co. will post 9.42 earnings per share for the current year.

Avery Dennison Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be given 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 yield of 1.74%. Avery Dennison's payout ratio is 42.26%.

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.