American International Group Inc. Sells 4,389 Shares of Avery Dennison Corporation (AVY)

American International Group Inc. trimmed its holdings in Avery Dennison Corporation (NYSE:AVY) by 12.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,022 shares of the industrial products company’s stock after selling 4,389 shares during the period. American International Group Inc.’s holdings in Avery Dennison were worth $2,952,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in AVY. Vanguard Group Inc. boosted its holdings in Avery Dennison by 2.3% in the 2nd quarter. Vanguard Group Inc. now owns 9,196,133 shares of the industrial products company’s stock valued at $812,662,000 after purchasing an additional 204,239 shares during the period. State Street Corp lifted its holdings in shares of Avery Dennison by 5.0% during the 2nd quarter. State Street Corp now owns 4,776,961 shares of the industrial products company’s stock worth $422,140,000 after acquiring an additional 229,297 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Avery Dennison by 21.3% during the 2nd quarter. Victory Capital Management Inc. now owns 1,937,495 shares of the industrial products company’s stock worth $171,216,000 after acquiring an additional 340,139 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Avery Dennison by 110.5% during the 2nd quarter. Principal Financial Group Inc. now owns 1,759,374 shares of the industrial products company’s stock worth $155,476,000 after acquiring an additional 923,548 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in shares of Avery Dennison by 1.7% during the 2nd quarter. Wells Fargo & Company MN now owns 1,013,602 shares of the industrial products company’s stock worth $89,571,000 after acquiring an additional 17,094 shares during the last quarter. Institutional investors and hedge funds own 85.28% of the company’s stock.

In related news, insider Dean A. Scarborough sold 20,000 shares of the business’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $105.00, for a total transaction of $2,100,000.00. Following the transaction, the insider now owns 94,042 shares in the company, valued at $9,874,410. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Dean A. Scarborough sold 10,000 shares of the business’s stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $104.54, for a total transaction of $1,045,400.00. Following the transaction, the chairman now owns 94,042 shares in the company, valued at approximately $9,831,150.68. The disclosure for this sale can be found here. Insiders have sold 152,604 shares of company stock worth $16,245,751 in the last quarter. 1.40% of the stock is owned by corporate insiders.

Avery Dennison Corporation (NYSE:AVY) opened at $113.73 on Friday. Avery Dennison Corporation has a 52-week low of $69.53 and a 52-week high of $114.79. The stock has a market cap of $9,890.89, a PE ratio of 24.06, a price-to-earnings-growth ratio of 3.25 and a beta of 1.24. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.13 and a quick ratio of 0.82.

Avery Dennison (NYSE:AVY) last released its quarterly earnings data on Wednesday, October 25th. The industrial products company reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.05. Avery Dennison had a net margin of 6.27% and a return on equity of 40.52%. The firm had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.65 billion. During the same quarter in the previous year, the company earned $1.01 earnings per share. The company’s revenue for the quarter was up 11.3% compared to the same quarter last year. equities research analysts expect that Avery Dennison Corporation will post 4.93 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 20th. Investors of record on Wednesday, December 6th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.58%. The ex-dividend date of this dividend is Tuesday, December 5th. Avery Dennison’s dividend payout ratio is currently 40.18%.

A number of research firms have recently issued reports on AVY. Robert W. Baird reaffirmed a “buy” rating and set a $115.00 price objective on shares of Avery Dennison in a report on Friday, October 27th. Zacks Investment Research downgraded shares of Avery Dennison from a “buy” rating to a “hold” rating in a report on Tuesday, October 31st. Barclays lifted their target price on shares of Avery Dennison from $105.00 to $120.00 and gave the stock an “overweight” rating in a research report on Monday, October 30th. J P Morgan Chase & Co cut shares of Avery Dennison from an “overweight” rating to a “neutral” rating in a research report on Thursday, October 26th. Finally, Loop Capital initiated coverage on shares of Avery Dennison in a research report on Thursday, September 28th. They issued a “hold” rating and a $99.00 target price on the stock. Four investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $110.83.

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Avery Dennison Company Profile

Avery Dennison Corporation (Avery Dennison) is engaged in the production of pressure-sensitive materials and a range of tickets, tags, labels and other converted products. The Company’s segments include Label and Graphic Materials (LGM); Retail Branding and Information Solutions (RBIS), and Industrial and Healthcare Materials (IHM).

Institutional Ownership by Quarter for Avery Dennison (NYSE:AVY)

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