Adams Natural Resources Fund Inc. Has $1.39 Million Stock Holdings in Avery Dennison Co. (NYSE:AVY)

Adams Natural Resources Fund Inc. trimmed its position in Avery Dennison Co. (NYSE:AVY - Free Report) by 69.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,300 shares of the industrial products company's stock after selling 14,500 shares during the quarter. Adams Natural Resources Fund Inc.'s holdings in Avery Dennison were worth $1,391,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Innealta Capital LLC acquired a new stake in Avery Dennison in the second quarter worth about $28,000. Ashton Thomas Private Wealth LLC bought a new position in Avery Dennison during the second quarter worth about $42,000. 1620 Investment Advisors Inc. bought a new position in Avery Dennison during the second quarter worth about $51,000. Raleigh Capital Management Inc. boosted its holdings in Avery Dennison by 1,400.0% during the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the industrial products company's stock worth $56,000 after buying an additional 238 shares during the last quarter. Finally, Palisade Asset Management LLC bought a new position in Avery Dennison during the first quarter worth about $64,000. 94.17% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Avery Dennison

In other news, Chairman Mitchell R. Butier sold 3,000 shares of the company's stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $202.95, for a total transaction of $608,850.00. Following 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 position. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, Chairman Mitchell R. Butier sold 10,000 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $212.90, for a total value of $2,129,000.00. Following the sale, the chairman now owns 304,114 shares in the company, valued at approximately $64,745,870.60. This 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 3,000 shares of the stock in a transaction on 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 approximately $61,719,936.30. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 59,108 shares of company stock worth $12,545,087 in the last 90 days. Corporate insiders own 1.10% of the company's stock.

Avery Dennison Stock Up 0.8 %

Shares of NYSE:AVY traded up $1.57 during trading on Wednesday, hitting $207.76. 522,341 shares of the company were exchanged, compared to its average volume of 466,878. Avery Dennison Co. has a fifty-two week low of $171.04 and a fifty-two week high of $233.48. The stock has a market cap of $16.74 billion, a price-to-earnings ratio of 30.33, a P/E/G ratio of 1.78 and a beta of 0.88. The company has a current ratio of 0.90, a quick ratio of 0.60 and a debt-to-equity ratio of 0.89. The firm has a fifty day moving average price of $216.36 and a two-hundred day moving average price of $218.30.

Avery Dennison (NYSE:AVY - Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.32 by $0.01. Avery Dennison had a return on equity of 33.44% and a net margin of 7.34%. The company had revenue of $2.18 billion for the quarter, compared to analysts' expectations of $2.20 billion. During the same quarter in the prior year, the business posted $2.10 EPS. The business's revenue was up 4.1% compared to the same quarter last year. As a group, research analysts anticipate that Avery Dennison Co. will post 9.41 earnings per share for the current fiscal year.

Avery Dennison Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date is Wednesday, December 4th. Avery Dennison's dividend payout ratio is currently 51.39%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on AVY shares. UBS Group cut Avery Dennison from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $262.00 to $235.00 in a report on Thursday, July 25th. Citigroup reduced their target price on Avery Dennison from $241.00 to $240.00 and set a "neutral" rating on the stock in a report on Wednesday, October 2nd. Barclays cut their price objective on Avery Dennison from $250.00 to $245.00 and set an "overweight" rating on the stock in a report on Monday. Bank of America upgraded Avery Dennison from an "underperform" rating to a "buy" rating and lifted their price objective for the company from $207.00 to $250.00 in a report on Thursday, October 17th. Finally, JPMorgan Chase & Co. cut 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 report on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Avery Dennison has a consensus rating of "Moderate Buy" and an average target price 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.