Avery Dennison Co. (NYSE:AVY) Shares Acquired by abrdn plc

abrdn plc lifted its stake in Avery Dennison Co. (NYSE:AVY - Free Report) by 11.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 34,047 shares of the industrial products company's stock after purchasing an additional 3,634 shares during the quarter. abrdn plc's holdings in Avery Dennison were worth $7,523,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Swedbank AB acquired a new stake in Avery Dennison during the 1st quarter valued at approximately $102,117,000. Jennison Associates LLC acquired a new stake in Avery Dennison during the 1st quarter worth about $44,837,000. National Bank of Canada FI raised its stake in shares of Avery Dennison by 795.2% during the 2nd quarter. National Bank of Canada FI now owns 160,248 shares of the industrial products company's stock valued at $34,190,000 after buying an additional 142,348 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in shares of Avery Dennison by 179.5% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 216,135 shares of the industrial products company's stock worth $47,258,000 after buying an additional 138,808 shares during the last quarter. Finally, Bahl & Gaynor Inc. grew its holdings in Avery Dennison by 51.9% during the second quarter. Bahl & Gaynor Inc. now owns 240,096 shares of the industrial products company's stock worth $52,497,000 after acquiring an additional 81,993 shares during the period. 94.17% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Avery Dennison

In related 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 value of $1,550,396.96. Following the completion of the transaction, the chairman now owns 304,114 shares in the company, valued at approximately $66,333,345.68. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Chairman Mitchell R. Butier sold 3,000 shares of the business's stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $205.76, for a total transaction of $617,280.00. Following the completion of the transaction, the chairman now owns 304,114 shares in the company, valued at approximately $62,574,496.64. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, 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 stock was sold at an average price of $218.12, for a total value of $1,550,396.96. Following the sale, the chairman now directly owns 304,114 shares of the company's stock, valued at $66,333,345.68. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 49,108 shares of company stock worth $10,407,587. Insiders own 1.10% of the company's stock.

Wall Street Analyst Weigh In

AVY has been the topic of a number of analyst reports. UBS Group cut shares of Avery Dennison from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $262.00 to $235.00 in a research note on Thursday, July 25th. Stifel Nicolaus began coverage on shares of Avery Dennison in a research note on Tuesday, July 9th. They set a "buy" rating and a $274.60 target price on the stock. Bank of America upgraded Avery Dennison from an "underperform" rating to a "buy" rating and lifted their price target for the company from $207.00 to $250.00 in a research note on Thursday, October 17th. BMO Capital Markets dropped their price objective on Avery Dennison from $252.00 to $247.00 and set an "outperform" rating on the stock in a report on Thursday, October 24th. Finally, Truist Financial upped their target price on Avery Dennison from $253.00 to $258.00 and gave the stock a "buy" rating in a research note on Wednesday, July 24th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $244.96.

Avery Dennison Trading Down 0.4 %

NYSE:AVY traded down $0.92 during trading hours on Friday, hitting $206.11. The company had a trading volume of 389,108 shares, compared to its average volume of 509,068. The company has a 50-day moving average of $215.91 and a 200 day moving average of $218.30. The company has a current ratio of 0.92, a quick ratio of 0.62 and a debt-to-equity ratio of 0.85. The company has a market cap of $16.56 billion, a P/E ratio of 24.74, a P/E/G ratio of 1.59 and a beta of 0.89. Avery Dennison Co. has a 1 year low of $175.10 and a 1 year high of $233.48.

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, 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 for the quarter was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.10 EPS. Sell-side analysts expect that Avery Dennison Co. will post 9.41 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 paid a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.71%. The ex-dividend date is Wednesday, December 4th. Avery Dennison's dividend payout ratio (DPR) is presently 42.26%.

About Avery Dennison

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.