Machina Capital S.A.S. Makes New Investment in Avery Dennison Corporation $AVY

Machina Capital S.A.S. acquired a new position in Avery Dennison Corporation (NYSE:AVY) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 7,038 shares of the industrial products company’s stock, valued at approximately $1,201,000.

Several other hedge funds have also modified their holdings of AVY. BlackRock Inc. purchased a new position in shares of Avery Dennison in the 2nd quarter valued at about $1,052,464,000. Wellington Management Group LLP boosted its position in Avery Dennison by 9.1% during the second quarter. Wellington Management Group LLP now owns 5,788,479 shares of the industrial products company’s stock worth $939,760,000 after purchasing an additional 482,054 shares in the last quarter. Ninety One UK Ltd acquired a new stake in Avery Dennison in the third quarter valued at approximately $341,344,000. Robeco Institutional Asset Management B.V. grew its holdings in Avery Dennison by 2,376.0% in the third quarter. Robeco Institutional Asset Management B.V. now owns 984,976 shares of the industrial products company’s stock valued at $168,106,000 after purchasing an additional 945,195 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Avery Dennison by 1.9% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 956,886 shares of the industrial products company’s stock valued at $155,350,000 after buying an additional 17,769 shares in the last quarter. 94.17% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AVY has been the topic of a number of research reports. Truist Financial decreased 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 note on Monday, October 12th. UBS Group upped their price objective on shares of Avery Dennison from $225.00 to $230.00 and gave the company a “buy” rating in a report on Friday, October 30th. Jefferies Financial Group reissued a “hold” rating and set a $181.00 target price on shares of Avery Dennison in a research note on Monday, September 28th. Wall Street Zen cut shares of Avery Dennison from a “buy” rating to a “hold” rating in a research report on Sunday, November 8th. Finally, Bank of America reiterated a “buy” rating on shares of Avery Dennison in a report on Friday, August 14th. Six research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $201.10.

Avery Dennison Price Performance

Avery Dennison stock opened at $187.13 on Friday. Avery Dennison Corporation has a 12 month low of $152.42 and a 12 month high of $199.54. The stock has a market capitalization of $14.13 billion, a PE ratio of 20.25, a price-to-earnings-growth ratio of 2.22 and a beta of 0.77. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.16 and a quick ratio of 0.80. The business has a 50 day simple moving average of $175.95 and a 200-day simple moving average of $172.34.

Avery Dennison (NYSE:AVY) last posted its quarterly earnings results on Thursday, October 29th. The industrial products company reported $2.42 earnings per share for the quarter, topping analysts’ consensus estimates of $2.32 by $0.10. Avery Dennison had a net margin of 7.56% and a return on equity of 33.88%. The business had revenue of $2.33 billion for the quarter, compared to analysts’ expectations of $2.26 billion. During the same period in the prior year, the company posted $2.37 EPS. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. Equities analysts predict 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. Stockholders of record on Wednesday, December 2nd will be issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Wednesday, December 2nd. Avery Dennison’s dividend payout ratio is presently 43.29%.

Insider Buying and Selling

In related news, SVP Nicholas Colisto sold 3,886 shares of Avery Dennison stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $170.68, for a total value of $663,262.48. Following the transaction, the senior vice president owned 7,126 shares in the company, valued at approximately $1,216,265.68. This trade represents a 35.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Andres Alberto Lopez sold 4,000 shares of Avery Dennison stock in a transaction that occurred on Thursday, November 5th. The shares were sold at an average price of $193.80, for a total transaction of $775,200.00. Following the transaction, the director directly owned 1,147 shares in the company, valued at approximately $222,288.60. This trade represents a 77.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.81% of the company’s stock.

Avery Dennison Profile

Avery Dennison is a global materials science and digital identification solutions company. Its products include pressure-sensitive labels and adhesives, packaging materials, and graphic films used in applications such as product labeling, vehicle graphics, and building signage. The company also develops technologies that help businesses identify and track products, including RFID inlays and tags, which can support inventory management and supply-chain visibility. Its solutions serve customers across industries such as apparel, food and beverage, logistics, healthcare, and retail.