Avery Dennison Co. (NYSE:AVY) Shares Sold by McElhenny Sheffield Capital Management LLC

McElhenny Sheffield Capital Management LLC cut its holdings in shares of Avery Dennison Co. (NYSE:AVY) by 6.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,328 shares of the industrial products company’s stock after selling 155 shares during the period. McElhenny Sheffield Capital Management LLC’s holdings in Avery Dennison were worth $514,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of AVY. Innealta Capital LLC purchased a new position in shares of Avery Dennison in the second quarter worth approximately $28,000. Ashton Thomas Private Wealth LLC acquired a new stake in Avery Dennison in the second quarter valued at approximately $42,000. 1620 Investment Advisors Inc. acquired a new stake in shares of Avery Dennison in the 2nd quarter valued at $51,000. Palisade Asset Management LLC acquired a new position in Avery Dennison during the first quarter worth $64,000. Finally, Versant Capital Management Inc increased its holdings in shares of Avery Dennison by 936.7% during the 2nd quarter. Versant Capital Management Inc now owns 311 shares of the industrial products company’s stock valued at $68,000 after acquiring an additional 281 shares during the last quarter. 94.17% of the stock is owned by institutional investors.

Insider Buying and Selling at Avery Dennison

In other Avery Dennison news, Chairman Mitchell R. Butier sold 3,000 shares of Avery Dennison 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 completion of the transaction, the chairman now directly owns 304,114 shares of the company’s stock, valued at approximately $61,719,936.30. This trade represents a 0.00 % 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 this link. In related news, Chairman Mitchell R. Butier sold 10,000 shares of the firm’s stock in a transaction on 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 directly owns 304,114 shares of the company’s stock, valued at $64,745,870.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Mitchell R. Butier sold 3,000 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $202.95, for a total value of $608,850.00. Following the completion of the sale, the chairman now owns 304,114 shares of the company’s stock, valued at approximately $61,719,936.30. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 59,108 shares of company stock worth $12,545,087 over the last three months. Company insiders own 1.10% of the company’s stock.

Avery Dennison Stock Down 0.5 %

Shares of AVY stock opened at $217.33 on Monday. Avery Dennison Co. has a one year low of $165.21 and a one year high of $233.48. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.90 and a quick ratio of 0.60. The stock has a fifty day moving average price of $216.80 and a 200 day moving average price of $218.75. The stock has a market cap of $17.51 billion, a P/E ratio of 31.73, a price-to-earnings-growth ratio of 1.78 and a beta of 0.88.

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

Avery Dennison Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th were paid a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.62%. The ex-dividend date was Wednesday, September 4th. Avery Dennison’s dividend payout ratio is 51.39%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on AVY shares. Barclays started coverage on shares of Avery Dennison in a research note on Monday, October 7th. They issued an “overweight” rating and a $250.00 target price on the stock. Bank of America raised Avery Dennison from an “underperform” rating to a “buy” rating and boosted their price objective for the stock from $207.00 to $250.00 in a research report on Thursday. UBS Group lowered Avery Dennison from a “buy” rating to a “neutral” rating and lowered their target price for the company from $262.00 to $235.00 in a report on Thursday, July 25th. Stifel Nicolaus initiated coverage on Avery Dennison in a report on Tuesday, July 9th. They set a “buy” rating and a $274.60 price target for the company. Finally, BMO Capital Markets restated an “outperform” rating and issued a $252.00 price objective (down previously from $254.00) on shares of Avery Dennison in a research note on Thursday, September 19th. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $246.78.

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.