US Bancorp DE Boosts Holdings in Avery Dennison Co. (NYSE:AVY)

US Bancorp DE raised its holdings in shares of Avery Dennison Co. (NYSE:AVY - Free Report) by 9.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,669 shares of the industrial products company's stock after buying an additional 3,305 shares during the quarter. US Bancorp DE's holdings in Avery Dennison were worth $8,757,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of AVY. Swedbank AB purchased a new stake in shares of Avery Dennison in the first quarter valued at about $102,117,000. Jennison Associates LLC acquired a new position in Avery Dennison in the first quarter valued at about $44,837,000. National Bank of Canada FI lifted its position in shares of Avery Dennison by 795.2% during the second quarter. National Bank of Canada FI now owns 160,248 shares of the industrial products company's stock worth $34,190,000 after purchasing an additional 142,348 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in shares of Avery Dennison by 179.5% during 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 purchasing an additional 138,808 shares in the last quarter. Finally, Bahl & Gaynor Inc. lifted its position in shares of 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 purchasing an additional 81,993 shares in the last quarter. Hedge funds and other institutional investors own 94.17% of the company's stock.

Insider Transactions at Avery Dennison

In related news, Chairman Mitchell R. Butier sold 3,000 shares of Avery Dennison stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $205.76, for a total value of $617,280.00. Following the transaction, the chairman now directly owns 304,114 shares in the company, valued at $62,574,496.64. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Avery Dennison news, Chairman Mitchell R. Butier sold 3,000 shares of the firm's stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $205.76, for a total value of $617,280.00. Following the completion of the sale, the chairman now owns 304,114 shares of the company's stock, valued at approximately $62,574,496.64. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Mitchell R. Butier sold 10,000 shares of the firm's stock in a transaction on Friday, August 16th. The shares were sold at an average price of $211.91, for a total value of $2,119,100.00. Following the completion of the sale, 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 46,108 shares of company stock worth $9,798,737. Insiders own 1.10% of the company's stock.

Avery Dennison Stock Performance

Shares of AVY traded down $0.54 during mid-day trading on Monday, reaching $205.57. 338,701 shares of the company's stock were exchanged, compared to its average volume of 466,177. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.92 and a quick ratio of 0.62. The stock has a market capitalization of $16.52 billion, a PE ratio of 24.74, a price-to-earnings-growth ratio of 1.59 and a beta of 0.89. The business's fifty day simple moving average is $215.91 and its 200-day simple moving average is $218.30. Avery Dennison Co. has a 52-week low of $176.75 and a 52-week high of $233.48.

Avery Dennison (NYSE:AVY - Get Free Report) last announced its earnings results 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. The business had revenue of $2.18 billion for 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%. The company's revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period last year, the firm posted $2.10 earnings per share. On average, equities research analysts expect that Avery Dennison Co. will post 9.41 earnings per share for the current year.

Avery Dennison Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be given a dividend of $0.88 per share. The ex-dividend date is Wednesday, December 4th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.71%. Avery Dennison's dividend payout ratio (DPR) is presently 42.26%.

Wall Street Analyst Weigh In

AVY has been the topic of several research reports. Citigroup reduced their price target on shares of Avery Dennison from $241.00 to $240.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 2nd. StockNews.com cut shares of Avery Dennison from a "buy" rating to a "hold" rating in a report on Thursday, October 24th. BMO Capital Markets reduced their target price 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. Bank of America raised shares of Avery Dennison from an "underperform" rating to a "buy" rating and raised their target price for the company from $207.00 to $250.00 in a report on Thursday, October 17th. 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 report on Wednesday, July 24th. Four research 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 currently has an average rating of "Moderate Buy" and an average price target of $244.96.

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.