Impax Asset Management Group plc Sells 9,823 Shares of Avery Dennison Co. (NYSE:AVY)

Impax Asset Management Group plc reduced its stake in Avery Dennison Co. (NYSE:AVY - Free Report) by 8.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 112,231 shares of the industrial products company's stock after selling 9,823 shares during the period. Impax Asset Management Group plc owned about 0.14% of Avery Dennison worth $24,776,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Innealta Capital LLC purchased a new stake in Avery Dennison during the 2nd quarter valued at $28,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of Avery Dennison in the second quarter worth about $42,000. 1620 Investment Advisors Inc. purchased a new position in Avery Dennison during the 2nd quarter valued at about $51,000. Raleigh Capital Management Inc. raised its position in Avery Dennison by 1,400.0% during the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the industrial products company's stock valued at $56,000 after purchasing an additional 238 shares during the last quarter. Finally, Versant Capital Management Inc lifted its holdings in Avery Dennison by 936.7% in the 2nd quarter. Versant Capital Management Inc now owns 311 shares of the industrial products company's stock worth $68,000 after buying an additional 281 shares during the period. Hedge funds and other institutional investors own 94.17% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Barclays decreased their target price on Avery Dennison from $250.00 to $245.00 and set an "overweight" rating for the company in a report on Monday, October 28th. UBS Group lowered shares of Avery Dennison from a "buy" rating to a "neutral" rating and cut their target price for the company from $262.00 to $235.00 in a research note on Thursday, July 25th. Truist Financial increased their price target on shares of Avery Dennison from $253.00 to $258.00 and gave the stock a "buy" rating in a research note on Wednesday, July 24th. StockNews.com downgraded Avery Dennison from a "buy" rating to a "hold" rating in a report on Thursday, October 24th. Finally, BMO Capital Markets lowered their target price on Avery Dennison from $252.00 to $247.00 and set an "outperform" rating for the company in a research note on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $244.96.

Insider Transactions at Avery Dennison

In related news, 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 completion of the sale, 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 Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Chairman Mitchell R. Butier sold 7,108 shares of the stock in a transaction that occurred on 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 owns 304,114 shares in the company, valued at $66,333,345.68. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Mitchell R. Butier sold 3,000 shares of Avery Dennison stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $206.80, for a total transaction of $620,400.00. Following the completion of the sale, the chairman now directly owns 304,114 shares of the company's stock, valued at approximately $62,890,775.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 46,108 shares of company stock worth $9,798,737 over the last quarter. 1.10% of the stock is currently owned by insiders.

Avery Dennison Stock Up 0.6 %

Avery Dennison stock traded up $1.18 during mid-day trading on Tuesday, reaching $206.75. The stock had a trading volume of 322,644 shares, compared to its average volume of 465,641. Avery Dennison Co. has a one year low of $176.75 and a one year high of $233.48. The company has a 50-day moving average price of $215.45 and a two-hundred day moving average price of $218.24. The company has a market capitalization of $16.61 billion, a price-to-earnings ratio of 24.82, a PEG ratio of 1.58 and a beta of 0.89. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.92 and a quick ratio of 0.62.

Avery Dennison (NYSE:AVY - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.32 by $0.01. The firm had revenue of $2.18 billion for the quarter, compared to the consensus estimate 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 quarter in the prior year, the firm posted $2.10 earnings per share. On average, analysts expect that Avery Dennison Co. will post 9.41 EPS for the current fiscal year.

Avery Dennison Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date is Wednesday, December 4th. Avery Dennison's payout ratio is 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.