Mutual of America Capital Management LLC Sells 2,648 Shares of Avery Dennison Co. (NYSE:AVY)

Mutual of America Capital Management LLC lowered its holdings in Avery Dennison Co. (NYSE:AVY - Free Report) by 10.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,129 shares of the industrial products company's stock after selling 2,648 shares during the period. Mutual of America Capital Management LLC's holdings in Avery Dennison were worth $4,885,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Victory Capital Management Inc. grew its holdings in Avery Dennison by 6.8% during the 3rd quarter. Victory Capital Management Inc. now owns 1,416,798 shares of the industrial products company's stock valued at $312,772,000 after buying an additional 90,250 shares in the last quarter. Boston Partners grew its stake in Avery Dennison by 3.6% during the first quarter. Boston Partners now owns 1,019,802 shares of the industrial products company's stock valued at $227,660,000 after acquiring an additional 35,538 shares in the last quarter. Meridiem Investment Management Ltd. increased its holdings in Avery Dennison by 0.7% during the 3rd quarter. Meridiem Investment Management Ltd. now owns 794,092 shares of the industrial products company's stock worth $175,261,000 after acquiring an additional 5,756 shares during the period. Dimensional Fund Advisors LP lifted its stake in Avery Dennison by 4.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 787,716 shares of the industrial products company's stock worth $172,254,000 after purchasing an additional 32,467 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Avery Dennison by 2.7% in the 2nd 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 purchasing an additional 17,158 shares during the period. 94.17% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. BMO Capital Markets decreased their price target on shares of Avery Dennison from $252.00 to $247.00 and set an "outperform" rating on the stock in a report on Thursday, October 24th. UBS Group lowered Avery Dennison from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $262.00 to $235.00 in a research note on Thursday, July 25th. Citigroup dropped their price target on Avery Dennison from $241.00 to $240.00 and set a "neutral" rating for the company in a research 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 report on Monday, October 28th. Finally, Truist Financial raised their target price on shares of Avery Dennison from $253.00 to $258.00 and gave the company a "buy" rating in a research note on Wednesday, July 24th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $244.96.

Avery Dennison Trading Up 0.3 %

Shares of AVY opened at $197.64 on Thursday. Avery Dennison Co. has a fifty-two week low of $187.93 and a fifty-two week high of $233.48. The firm has a market cap of $15.88 billion, a price-to-earnings ratio of 23.73, a PEG ratio of 1.52 and a beta of 0.89. The firm has a 50 day moving average price of $211.92 and a 200-day moving average price of $217.20. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.62 and a current ratio of 0.92.

Avery Dennison (NYSE:AVY - Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share for the quarter, topping 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 business had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.20 billion. During the same period in the previous year, the firm posted $2.10 earnings per share. The firm's revenue for the quarter was up 4.1% on a year-over-year basis. As a group, equities research analysts forecast that Avery Dennison Co. will post 9.42 earnings per share for the current year.

Avery Dennison Dividend Announcement

The business also recently declared 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 of this dividend is Wednesday, December 4th. This represents a $3.52 annualized dividend and a yield of 1.78%. Avery Dennison's payout ratio is 42.26%.

Insiders Place Their Bets

In other news, Chairman Mitchell R. Butier sold 7,108 shares of the firm's stock in a transaction that occurred 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 owns 304,114 shares in the company, valued at approximately $66,333,345.68. This trade represents 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 accessible through this hyperlink. Insiders own 1.10% of the company's stock.

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.