Natixis Advisors LLC Sells 2,152 Shares of Avery Dennison Co. (NYSE:AVY)

Natixis Advisors LLC trimmed its holdings in shares of Avery Dennison Co. (NYSE:AVY) by 0.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 243,044 shares of the industrial products company’s stock after selling 2,152 shares during the quarter. Natixis Advisors LLC owned 0.30% of Avery Dennison worth $53,654,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Innealta Capital LLC purchased a new stake in shares of Avery Dennison during the 2nd quarter valued at $28,000. Kennebec Savings Bank purchased a new stake in Avery Dennison during the third quarter worth about $36,000. Ashton Thomas Private Wealth LLC bought a new stake in Avery Dennison in the second quarter worth about $42,000. 1620 Investment Advisors Inc. purchased a new position in Avery Dennison in the second quarter valued at about $51,000. Finally, Raleigh Capital Management Inc. grew its position in shares of 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 acquiring an additional 238 shares during the period. 94.17% of the stock is currently owned by institutional investors.

Avery Dennison Stock Down 1.1 %

Shares of NYSE:AVY opened at $197.73 on Friday. The firm has a fifty day moving average price of $212.79 and a two-hundred day moving average price of $217.52. The company has a market cap of $15.89 billion, a price-to-earnings ratio of 23.74, a PEG ratio of 1.56 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 Co. has a one year low of $186.66 and a one year high of $233.48.

Avery Dennison (NYSE:AVY) last posted its quarterly earnings data 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. Avery Dennison had a net margin of 7.76% and a return on equity of 33.01%. The firm had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.20 billion. During the same quarter last year, the company posted $2.10 EPS. The business’s quarterly revenue was up 4.1% on a year-over-year basis. Analysts anticipate that Avery Dennison Co. will post 9.42 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. Investors of record on Wednesday, December 4th will be given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date of this dividend is Wednesday, December 4th. Avery Dennison’s payout ratio is presently 42.26%.

Insider Activity

In other Avery Dennison news, Chairman Mitchell R. Butier sold 7,108 shares of Avery Dennison stock in a transaction that occurred on 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 transaction, the chairman now directly owns 304,114 shares of the company’s stock, valued at $66,333,345.68. The trade was a 2.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last quarter, insiders sold 27,108 shares of company stock valued at $5,821,497. Insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Citigroup dropped their price objective on Avery Dennison from $241.00 to $240.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 2nd. Truist Financial increased their price target on Avery Dennison from $253.00 to $258.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. UBS Group cut 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. Barclays dropped their price objective on shares of Avery Dennison from $250.00 to $245.00 and set an “overweight” rating on the stock in a report on Monday, October 28th. Finally, StockNews.com downgraded shares of Avery Dennison from a “buy” rating to a “hold” rating in a research note on Thursday, October 24th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Avery Dennison presently has a consensus rating of “Moderate Buy” and a consensus target price of $244.96.

Avery Dennison 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.