Twelve Points Wealth Management LLC Acquires 275 Shares of Avery Dennison Co. (NYSE:AVY)

Twelve Points Wealth Management LLC increased its stake in Avery Dennison Co. (NYSE:AVY) by 7.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,916 shares of the industrial products company’s stock after purchasing an additional 275 shares during the quarter. Twelve Points Wealth Management LLC’s holdings in Avery Dennison were worth $864,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in AVY. Victory Capital Management Inc. lifted its holdings in Avery Dennison by 2.1% during the second quarter. Victory Capital Management Inc. now owns 1,326,548 shares of the industrial products company’s stock valued at $290,050,000 after purchasing an additional 27,771 shares in the last quarter. Boston Partners lifted 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 buying an additional 35,538 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in 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 buying an additional 32,467 shares during the period. Bank of New York Mellon Corp increased its stake in 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 worth $141,297,000 after buying an additional 17,158 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in Avery Dennison by 1.2% during the second quarter. Envestnet Asset Management Inc. now owns 590,320 shares of the industrial products company’s stock valued at $129,074,000 after acquiring an additional 6,773 shares during the period. 94.17% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on AVY. UBS Group cut shares of Avery Dennison from a “buy” rating to a “neutral” rating and cut their target price for the company from $262.00 to $235.00 in a research note on Thursday, July 25th. Truist Financial lifted their target price on Avery Dennison from $253.00 to $258.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Stifel Nicolaus started coverage on Avery Dennison in a research note on Tuesday, July 9th. They set a “buy” rating and a $274.60 price target for the company. Barclays assumed coverage on shares of Avery Dennison in a research note on Monday, October 7th. They set an “overweight” rating and a $250.00 price target for the company. Finally, Citigroup reduced their price objective on shares of Avery Dennison from $241.00 to $240.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $242.96.

Avery Dennison Price Performance

NYSE AVY opened at $214.91 on Thursday. The company has a market cap of $17.31 billion, a PE ratio of 31.37, a P/E/G ratio of 1.78 and a beta of 0.88. The firm’s 50 day moving average price is $216.39 and its 200-day moving average price is $218.83. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.60 and a current ratio of 0.90. Avery Dennison Co. has a 52-week low of $165.21 and a 52-week high of $233.48.

Avery Dennison (NYSE:AVY) last announced its earnings results on Tuesday, July 23rd. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.16. The business had revenue of $2.24 billion for the quarter, compared to analysts’ expectations of $2.18 billion. Avery Dennison had a return on equity of 33.44% and a net margin of 7.34%. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.92 EPS. Sell-side analysts forecast that Avery Dennison Co. will post 9.41 EPS for the current fiscal year.

Avery Dennison Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th were issued a $0.88 dividend. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $3.52 dividend on an annualized basis and a yield of 1.64%. Avery Dennison’s dividend payout ratio is presently 51.39%.

Insider Buying and Selling at Avery Dennison

In related news, Chairman Mitchell R. Butier sold 3,000 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $202.95, for a total transaction of $608,850.00. Following the completion of the sale, the chairman now owns 304,114 shares of the company’s stock, valued at $61,719,936.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, Chairman Mitchell R. Butier sold 3,000 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $202.95, for a total transaction of $608,850.00. Following the transaction, the chairman now directly owns 304,114 shares of the company’s stock, valued at approximately $61,719,936.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Mitchell R. Butier sold 10,000 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $213.75, for a total value of $2,137,500.00. Following the completion of the sale, the chairman now directly owns 304,114 shares of the company’s stock, valued at $65,004,367.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 59,108 shares of company stock valued at $12,545,087. 1.10% of the stock is currently owned by insiders.

Avery Dennison 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.