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

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

Other institutional investors and hedge funds have also bought and sold shares of the company. Victory Capital Management Inc. raised its holdings in shares of Avery Dennison by 6.8% during the third quarter. Victory Capital Management Inc. now owns 1,416,798 shares of the industrial products company’s stock valued at $312,772,000 after acquiring an additional 90,250 shares in the last quarter. Boston Partners boosted its stake in shares of Avery Dennison by 3.6% during the 1st quarter. Boston Partners now owns 1,019,802 shares of the industrial products company’s stock valued at $227,660,000 after purchasing an additional 35,538 shares in the last quarter. Meridiem Investment Management Ltd. increased its position in shares of Avery Dennison by 0.7% during the third quarter. Meridiem Investment Management Ltd. now owns 794,092 shares of the industrial products company’s stock valued at $175,261,000 after buying an additional 5,756 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Avery Dennison by 4.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 787,716 shares of the industrial products company’s stock worth $172,254,000 after acquiring an additional 32,467 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of Avery Dennison by 2.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 646,223 shares of the industrial products company’s stock valued at $141,297,000 after purchasing an additional 17,158 shares during the period. Hedge funds and other institutional investors own 94.17% of the company’s stock.

Insider Buying and Selling

In other Avery Dennison news, Chairman Mitchell R. Butier sold 10,000 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $212.90, for a total transaction of $2,129,000.00. Following the completion of the sale, the chairman now owns 304,114 shares of the company’s stock, valued at approximately $64,745,870.60. The trade was a 3.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last three months, insiders have sold 27,108 shares of company stock valued at $5,821,497. 1.10% of the stock is owned by company insiders.

Avery Dennison Price Performance

Shares of AVY opened at $197.73 on Friday. The firm has a market cap of $15.89 billion, a PE ratio of 23.74, a P/E/G ratio of 1.56 and a beta of 0.89. Avery Dennison Co. has a 1-year low of $186.66 and a 1-year high of $233.48. 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 firm has a fifty day simple moving average of $212.79 and a two-hundred day simple moving average of $217.52.

Avery Dennison (NYSE:AVY) last posted its earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share for the quarter, beating analysts’ consensus estimates of $2.32 by $0.01. The company 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%. Avery Dennison’s revenue was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.10 earnings per share. On average, equities analysts anticipate that Avery Dennison Co. will post 9.42 EPS for the current year.

Avery Dennison Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date of this dividend is Wednesday, December 4th. Avery Dennison’s payout ratio is 42.26%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Truist Financial upped their target price on shares of Avery Dennison from $253.00 to $258.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Bank of America upgraded shares of Avery Dennison from an “underperform” rating to a “buy” rating and lifted their target price for the company from $207.00 to $250.00 in a report on Thursday, October 17th. Barclays reduced their price objective on Avery Dennison from $250.00 to $245.00 and set an “overweight” rating for the company in a research report on Monday, October 28th. UBS Group cut Avery Dennison from a “buy” rating to a “neutral” rating and cut their target price for the stock from $262.00 to $235.00 in a research note on Thursday, July 25th. Finally, JPMorgan Chase & Co. downgraded shares of Avery Dennison from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $230.00 to $210.00 in a research report on Thursday, October 24th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $244.96.

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.