Vise Technologies Inc. Buys 8,272 Shares of Avery Dennison Corporation $AVY

Vise Technologies Inc. bought a new stake in Avery Dennison Corporation (NYSE:AVY) during the third quarter, Holdings Channel reports. The fund bought 8,272 shares of the industrial products company’s stock, valued at approximately $1,412,000.

A number of other institutional investors have also recently added to or reduced their stakes in AVY. BlackRock Inc. purchased a new position in shares of Avery Dennison in the 2nd quarter worth about $1,052,464,000. Ninety One UK Ltd purchased a new stake in shares of Avery Dennison during the 3rd quarter worth about $341,344,000. Robeco Institutional Asset Management B.V. grew its holdings in shares of Avery Dennison by 2,376.0% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 984,976 shares of the industrial products company’s stock worth $168,106,000 after purchasing an additional 945,195 shares during the period. Bank of America Corp DE acquired a new stake in Avery Dennison during the 2nd quarter worth approximately $142,169,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in Avery Dennison during the 2nd quarter worth approximately $118,728,000. Hedge funds and other institutional investors own 94.17% of the company’s stock.

Avery Dennison Stock Down 1.5%

Shares of NYSE:AVY traded down $2.89 during mid-day trading on Friday, hitting $186.81. 604,340 shares of the company traded hands, compared to its average volume of 655,986. The firm has a market cap of $14.16 billion, a P/E ratio of 20.22, a PEG ratio of 2.20 and a beta of 0.77. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.80 and a current ratio of 1.16. Avery Dennison Corporation has a 52-week low of $152.42 and a 52-week high of $199.54. The firm’s 50 day simple moving average is $174.92 and its 200 day simple moving average is $172.32.

Avery Dennison (NYSE:AVY) last released its quarterly earnings results on Thursday, October 29th. The industrial products company reported $2.42 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $2.26 billion. During the same period last year, the business earned $2.37 EPS. The business’s revenue was up 5.2% on a year-over-year basis. On average, equities analysts anticipate that Avery Dennison Corporation will post 10.17 EPS for the current year.

Avery Dennison Announces Dividend

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

Insider Transactions at Avery Dennison

In related news, SVP Nicholas Colisto sold 3,886 shares of the company’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $170.68, for a total transaction of $663,262.48. Following the completion of the transaction, the senior vice president directly owned 7,126 shares in the company, valued at $1,216,265.68. This represents a 35.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Andres Alberto Lopez sold 4,000 shares of the firm’s 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 completion of the sale, the director owned 1,147 shares in the company, valued at $222,288.60. The trade was a 77.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.81% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on AVY shares. Truist Financial cut their price target on shares of Avery Dennison from $209.00 to $208.00 and set a “buy” rating on the stock in a report on Monday, October 12th. Wall Street Zen downgraded shares of Avery Dennison from a “buy” rating to a “hold” rating in a research note on Saturday, October 31st. 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 research report on Monday, November 2nd. Bank of America restated a “buy” rating on shares of Avery Dennison in a report on Friday, August 14th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $181.00 price target on shares of Avery Dennison in a research report on Monday, September 28th. Six investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Avery Dennison has an average rating of “Moderate Buy” and an average price target of $201.10.

Avery Dennison 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.