2,819 Shares in Avery Dennison Corporation $AVY Acquired by State of Wyoming

State of Wyoming purchased a new stake in shares of Avery Dennison Corporation (NYSE:AVY) in the third quarter, Holdings Channel.com reports. The fund purchased 2,819 shares of the industrial products company’s stock, valued at approximately $481,000.

Several other institutional investors have also recently bought and sold shares of AVY. CHICAGO TRUST Co NA boosted its stake in Avery Dennison by 7.2% in the third quarter. CHICAGO TRUST Co NA now owns 7,490 shares of the industrial products company’s stock worth $1,278,000 after purchasing an additional 500 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Avery Dennison during the third quarter worth $461,000. D.A. Davidson & CO. increased its stake in shares of Avery Dennison by 4.6% in the third quarter. D.A. Davidson & CO. now owns 7,743 shares of the industrial products company’s stock valued at $1,322,000 after buying an additional 341 shares in the last quarter. North Dakota State Investment Board increased its stake in shares of Avery Dennison by 2.6% in the third quarter. North Dakota State Investment Board now owns 2,346 shares of the industrial products company’s stock valued at $400,000 after buying an additional 59 shares in the last quarter. Finally, VestGen Advisors LLC bought a new position in shares of Avery Dennison in the third quarter valued at about $204,000. Institutional investors own 94.17% of the company’s stock.

Avery Dennison Stock Performance

Avery Dennison stock opened at $187.15 on Tuesday. The company’s 50-day moving average is $174.31 and its two-hundred day moving average is $172.28. Avery Dennison Corporation has a 1 year low of $152.42 and a 1 year high of $199.54. The company has a market cap of $14.18 billion, a PE ratio of 17.75, a PEG ratio of 2.17 and a beta of 0.79. The company has a current ratio of 1.13, a quick ratio of 0.79 and a debt-to-equity ratio of 1.37.

Avery Dennison (NYSE:AVY) last released its earnings results on Thursday, October 29th. The industrial products company reported $2.42 EPS for the quarter, topping analysts’ consensus estimates of $2.32 by $0.10. The firm had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.26 billion. Avery Dennison had a net margin of 7.62% and a return on equity of 34.60%. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.37 EPS. Equities analysts anticipate that Avery Dennison Corporation will post 10.17 earnings per share for the current year.

Avery Dennison Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 16th. Investors of record on Wednesday, December 2nd will be paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Wednesday, December 2nd. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.1%. Avery Dennison’s payout ratio is 43.29%.

Analyst Ratings Changes

Several research analysts recently issued reports on AVY shares. Truist Financial reduced their price target on shares of Avery Dennison from $209.00 to $208.00 and set a “buy” rating on the stock in a research report on Monday, October 12th. Citigroup increased their price objective on shares of Avery Dennison from $186.00 to $191.00 and gave the stock a “neutral” rating in a report on Monday. Wall Street Zen cut shares of Avery Dennison from a “buy” rating to a “hold” rating in a research report on Saturday. JPMorgan Chase & Co. boosted their target price on shares of Avery Dennison from $190.00 to $200.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, UBS Group upped their target price on shares of Avery Dennison from $225.00 to $230.00 and gave the stock a “buy” rating in a research report on Friday. Six research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Avery Dennison presently has a consensus rating of “Moderate Buy” and a consensus target price of $201.10.

Insider Buying and Selling

In related news, SVP Nicholas Colisto sold 3,886 shares of the company’s stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $170.68, for a total value of $663,262.48. Following the completion of the sale, the senior vice president owned 7,126 shares in the company, valued at approximately $1,216,265.68. This represents a 35.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.81% of the company’s stock.

Avery Dennison Company Profile

Avery Dennison Corporation (NYSE: AVY) is a global materials science and manufacturing company that develops and produces labeling, packaging, graphic, and functional materials. Its products are used by businesses across industries including consumer goods, retail, logistics, apparel, automotive, healthcare, and industrial manufacturing.

The company’s offerings include pressure-sensitive labels and label materials, adhesives, industrial and specialty tapes, graphic films, and packaging materials.