Strengthening Families & Communities LLC Has $2.88 Million Stock Position in Avery Dennison Co. (NYSE:AVY)

Strengthening Families & Communities LLC boosted its stake in Avery Dennison Co. (NYSE:AVY) by 7.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,061 shares of the industrial products company’s stock after acquiring an additional 863 shares during the period. Strengthening Families & Communities LLC’s holdings in Avery Dennison were worth $2,883,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Intech Investment Management LLC grew its stake in Avery Dennison by 3.3% during the second quarter. Intech Investment Management LLC now owns 1,559 shares of the industrial products company’s stock valued at $341,000 after acquiring an additional 50 shares in the last quarter. Empirical Finance LLC raised its holdings in Avery Dennison by 2.0% during the 3rd quarter. Empirical Finance LLC now owns 2,822 shares of the industrial products company’s stock valued at $623,000 after buying an additional 55 shares during the last quarter. Procyon Advisors LLC raised its holdings in Avery Dennison by 4.0% during the 3rd quarter. Procyon Advisors LLC now owns 1,442 shares of the industrial products company’s stock valued at $319,000 after buying an additional 56 shares during the last quarter. Bailard Inc. raised its holdings in Avery Dennison by 0.5% during the 2nd quarter. Bailard Inc. now owns 12,202 shares of the industrial products company’s stock valued at $2,668,000 after buying an additional 61 shares during the last quarter. Finally, Legacy Wealth Asset Management LLC raised its holdings in Avery Dennison by 4.5% in the 3rd quarter. Legacy Wealth Asset Management LLC now owns 1,479 shares of the industrial products company’s stock worth $327,000 after purchasing an additional 64 shares in the last quarter. Institutional investors own 94.17% of the company’s stock.

Avery Dennison Price Performance

Shares of NYSE AVY opened at $197.73 on Monday. The stock has a market cap of $15.89 billion, a P/E ratio of 23.74, a P/E/G ratio of 1.52 and a beta of 0.89. 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 stock has a 50 day moving average of $212.79 and a two-hundred day moving average of $217.52. Avery Dennison Co. has a twelve month low of $186.66 and a twelve month high of $233.48.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 33.01% and a net margin of 7.76%. The business’s revenue was up 4.1% on a year-over-year basis. During the same period in the prior year, the business earned $2.10 earnings per share. On average, research analysts forecast that Avery Dennison Co. will post 9.42 earnings per share for the current year.

Avery Dennison Dividend Announcement

The company 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 dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date is Wednesday, December 4th. Avery Dennison’s dividend payout ratio is presently 42.26%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AVY. 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. Citigroup dropped their price target on shares of Avery Dennison from $241.00 to $240.00 and set a “neutral” rating on the stock in a report on Wednesday, October 2nd. Bank of America upgraded shares of Avery Dennison from an “underperform” rating to a “buy” rating and increased their price objective for the stock from $207.00 to $250.00 in a research note on Thursday, October 17th. StockNews.com cut shares of Avery Dennison from a “buy” rating to a “hold” rating in a research note on Thursday, October 24th. Finally, BMO Capital Markets reduced their price objective on shares of Avery Dennison from $252.00 to $247.00 and set an “outperform” rating on the stock in a research report on Thursday, October 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. According to MarketBeat.com, Avery Dennison currently has an average rating of “Moderate Buy” and an average price target of $244.96.

Insider Buying and Selling

In related news, Chairman Mitchell R. Butier sold 7,108 shares of Avery Dennison stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $218.12, for a total transaction of $1,550,396.96. Following the completion of the sale, the chairman now owns 304,114 shares of the company’s stock, valued at approximately $66,333,345.68. This trade represents a 2.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.10% of the company’s stock.

Avery Dennison Company 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.