Machina Capital S.A.S. Buys New Position in Avery Dennison Corporation $AVY

Machina Capital S.A.S. bought a new stake in shares of Avery Dennison Corporation (NYSE:AVY) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 7,038 shares of the industrial products company’s stock, valued at approximately $1,201,000.

A number of other hedge funds and other institutional investors have also modified their holdings of AVY. BlackRock Inc. purchased a new position in Avery Dennison during the 2nd quarter worth approximately $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. lifted its stake in Avery Dennison by 2,376.0% in the third quarter. Robeco Institutional Asset Management B.V. now owns 984,976 shares of the industrial products company’s stock valued at $168,106,000 after acquiring an additional 945,195 shares during the last quarter. Bank of America Corp DE acquired a new stake in shares of Avery Dennison in the 2nd quarter valued at $142,169,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Avery Dennison during the 2nd quarter worth about $118,728,000. Institutional investors and hedge funds own 94.17% of the company’s stock.

Avery Dennison Price Performance

Avery Dennison stock opened at $187.13 on Friday. The firm has a market capitalization of $14.13 billion, a P/E ratio of 20.25, a PEG ratio of 2.22 and a beta of 0.77. Avery Dennison Corporation has a 1 year low of $152.42 and a 1 year high of $199.54. The business has a 50-day moving average of $175.95 and a 200-day moving average of $172.34. The company has a current ratio of 1.16, a quick ratio of 0.80 and a debt-to-equity ratio of 1.33.

Avery Dennison (NYSE:AVY) last announced 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. The business had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.26 billion. Avery Dennison had a net margin of 7.56% and a return on equity of 33.88%. Avery Dennison’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period last year, the company posted $2.37 EPS. On average, equities analysts anticipate that Avery Dennison Corporation will post 10.17 EPS for the current year.

Avery Dennison Announces Dividend

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

Wall Street Analysts Forecast Growth

AVY has been the topic of several research analyst reports. Truist Financial lowered their price target on Avery Dennison from $209.00 to $208.00 and set a “buy” rating on the stock in a research report on Monday, October 12th. Jefferies Financial Group restated a “hold” rating and issued a $181.00 price objective on shares of Avery Dennison in a research note on Monday, September 28th. Bank of America restated a “buy” rating on shares of Avery Dennison in a research report on Friday, August 14th. JPMorgan Chase & Co. upped their price objective on shares of Avery Dennison from $190.00 to $200.00 and gave the stock an “overweight” rating in a research note on Friday, October 30th. Finally, Citigroup increased their target price on Avery Dennison from $186.00 to $191.00 and gave the stock a “neutral” rating in a report on Monday, November 2nd. Six research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $201.10.

Insider Buying and Selling at Avery Dennison

In other Avery Dennison news, SVP Nicholas Colisto sold 3,886 shares of the stock in a transaction dated 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 owned 7,126 shares in the company, valued at approximately $1,216,265.68. This represents a 35.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Andres Alberto Lopez sold 4,000 shares of Avery Dennison stock in a transaction dated Thursday, November 5th. The shares were sold at an average price of $193.80, for a total value of $775,200.00. Following the completion of the sale, the director directly owned 1,147 shares in the company, valued at $222,288.60. This represents a 77.72% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.81% of the company’s stock.

Avery Dennison Company Profile

Avery Dennison is a global materials science and digital identification solutions company. Its products include pressure-sensitive labels and adhesives, packaging materials, and graphic films used in applications such as product labeling, vehicle graphics, and building signage. The company also develops technologies that help businesses identify and track products, including RFID inlays and tags, which can support inventory management and supply-chain visibility. Its solutions serve customers across industries such as apparel, food and beverage, logistics, healthcare, and retail.