Avery Dennison Corporation $AVY Shares Sold by Terra Alpha Investments LLC

Terra Alpha Investments LLC trimmed its position in shares of Avery Dennison Corporation (NYSE:AVY) by 0.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,037 shares of the industrial products company’s stock after selling 134 shares during the quarter. Avery Dennison accounts for approximately 3.1% of Terra Alpha Investments LLC’s portfolio, making the stock its 15th largest holding. Terra Alpha Investments LLC’s holdings in Avery Dennison were worth $2,989,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Choreo LLC increased its stake in shares of Avery Dennison by 1.5% during the first quarter. Choreo LLC now owns 12,380 shares of the industrial products company’s stock worth $2,203,000 after acquiring an additional 185 shares during the period. Fifth Third Bancorp increased its stake in shares of Avery Dennison by 5.9% during the second quarter. Fifth Third Bancorp now owns 3,494 shares of the industrial products company’s stock worth $613,000 after acquiring an additional 196 shares during the period. Brown Advisory Inc. increased its stake in shares of Avery Dennison by 3.6% during the first quarter. Brown Advisory Inc. now owns 2,169 shares of the industrial products company’s stock worth $386,000 after acquiring an additional 76 shares during the period. GAMMA Investing LLC increased its stake in shares of Avery Dennison by 9.4% during the first quarter. GAMMA Investing LLC now owns 2,409 shares of the industrial products company’s stock worth $429,000 after acquiring an additional 207 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Avery Dennison by 7.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,273 shares of the industrial products company’s stock worth $4,676,000 after acquiring an additional 1,772 shares during the period. 94.17% of the stock is currently owned by institutional investors and hedge funds.

Avery Dennison Stock Performance

NYSE:AVY opened at $163.67 on Wednesday. The company has a current ratio of 1.04, a quick ratio of 0.70 and a debt-to-equity ratio of 1.19. The firm has a 50-day moving average price of $166.42 and a two-hundred day moving average price of $172.27. Avery Dennison Corporation has a twelve month low of $156.23 and a twelve month high of $220.02. The company has a market capitalization of $12.76 billion, a P/E ratio of 18.37, a price-to-earnings-growth ratio of 2.37 and a beta of 0.95.

Avery Dennison (NYSE:AVY) last posted its earnings results on Tuesday, July 22nd. The industrial products company reported $2.42 earnings per share for the quarter, beating the consensus estimate of $2.38 by $0.04. Avery Dennison had a net margin of 8.14% and a return on equity of 33.14%. The firm had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.23 billion. During the same period last year, the firm posted $2.42 EPS. The firm’s revenue for the quarter was down .7% on a year-over-year basis. As a group, research analysts expect that Avery Dennison Corporation will post 9.96 earnings per share for the current fiscal year.

Avery Dennison Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 17th. Shareholders of record on Wednesday, September 3rd were issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 2.3%. The ex-dividend date was Wednesday, September 3rd. Avery Dennison’s dividend payout ratio (DPR) is 42.20%.

Wall Street Analyst Weigh In

AVY has been the subject of a number of research analyst reports. Citigroup cut their price target on shares of Avery Dennison from $191.00 to $177.00 and set a “neutral” rating for the company in a report on Monday, September 29th. UBS Group decreased their price objective on shares of Avery Dennison from $188.00 to $181.00 and set a “neutral” rating on the stock in a report on Monday, October 6th. JPMorgan Chase & Co. boosted their price objective on shares of Avery Dennison from $172.00 to $182.00 and gave the stock a “neutral” rating in a report on Wednesday, July 23rd. Truist Financial decreased their price objective on shares of Avery Dennison from $204.00 to $203.00 and set a “buy” rating on the stock in a report on Monday, October 13th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Avery Dennison in a report on Tuesday, October 14th. Six equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, Avery Dennison presently has a consensus rating of “Moderate Buy” and a consensus price target of $195.30.

About Avery Dennison

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.