Mount Yale Investment Advisors LLC Cuts Stake in Avery Dennison Co. (NYSE:AVY)

Mount Yale Investment Advisors LLC cut its holdings in Avery Dennison Co. (NYSE:AVY) by 16.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,078 shares of the industrial products company’s stock after selling 2,012 shares during the period. Mount Yale Investment Advisors LLC’s holdings in Avery Dennison were worth $2,225,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cetera Investment Advisers increased its holdings in Avery Dennison by 195.2% in the 1st quarter. Cetera Investment Advisers now owns 17,863 shares of the industrial products company’s stock valued at $3,988,000 after acquiring an additional 11,811 shares during the last quarter. Natixis lifted its position in shares of Avery Dennison by 365.9% in the first quarter. Natixis now owns 4,552 shares of the industrial products company’s stock worth $1,016,000 after buying an additional 3,575 shares in the last quarter. Mediolanum International Funds Ltd bought a new position in Avery Dennison during the first quarter valued at approximately $2,935,000. SG Americas Securities LLC grew its holdings in Avery Dennison by 86.5% during the 2nd quarter. SG Americas Securities LLC now owns 32,538 shares of the industrial products company’s stock valued at $7,114,000 after buying an additional 15,092 shares in the last quarter. Finally, McElhenny Sheffield Capital Management LLC bought a new stake in Avery Dennison in the 2nd quarter worth approximately $543,000. 94.17% of the stock is currently owned by institutional investors.

Avery Dennison Trading Down 1.3 %

NYSE AVY opened at $204.92 on Friday. The stock has a market cap of $16.51 billion, a PE ratio of 29.92, a PEG ratio of 1.78 and a beta of 0.88. Avery Dennison Co. has a 12 month low of $165.21 and a 12 month high of $233.48. The company’s 50-day moving average price is $216.85 and its 200-day moving average price is $218.53. The company has a current ratio of 0.90, a quick ratio of 0.60 and a debt-to-equity ratio of 0.89.

Avery Dennison (NYSE:AVY) last issued its earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 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 the consensus estimate of $2.20 billion. Avery Dennison had a net margin of 7.34% and a return on equity of 33.44%. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.10 EPS. Equities research analysts forecast that Avery Dennison Co. will post 9.41 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently commented on AVY. 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. StockNews.com downgraded shares of Avery Dennison from a “buy” rating to a “hold” rating in a report on Thursday. JPMorgan Chase & Co. downgraded shares of Avery Dennison from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $230.00 to $210.00 in a report on Thursday. Bank of America raised Avery Dennison from an “underperform” rating to a “buy” rating and boosted their price objective for the stock from $207.00 to $250.00 in a research note on Thursday, October 17th. Finally, UBS Group lowered Avery Dennison from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $262.00 to $235.00 in a research note on Thursday, July 25th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $245.42.

Insiders Place Their Bets

In related news, Chairman Mitchell R. Butier sold 10,000 shares of Avery Dennison stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $213.75, for a total value of $2,137,500.00. Following the completion of the sale, the chairman now directly owns 304,114 shares in the company, valued at $65,004,367.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Chairman Mitchell R. Butier sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $213.75, for a total value of $2,137,500.00. Following the completion of the transaction, the chairman now owns 304,114 shares of the company’s stock, valued at $65,004,367.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Mitchell R. Butier sold 3,000 shares of the 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 sale, 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 59,108 shares of company stock worth $12,545,087. 1.10% of the stock is currently owned by company insiders.

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.