E. Ohman J or Asset Management AB Trims Stake in Avery Dennison Co. (NYSE:AVY)

E. Ohman J or Asset Management AB reduced its position in shares of Avery Dennison Co. (NYSE:AVY) by 13.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,200 shares of the industrial products company’s stock after selling 500 shares during the period. E. Ohman J or Asset Management AB’s holdings in Avery Dennison were worth $706,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Taylor Frigon Capital Management LLC grew its position in shares of Avery Dennison by 0.8% during the 1st quarter. Taylor Frigon Capital Management LLC now owns 6,386 shares of the industrial products company’s stock valued at $1,426,000 after purchasing an additional 48 shares in the last quarter. Intech Investment Management LLC grew its position in shares of Avery Dennison by 3.3% during the 2nd quarter. Intech Investment Management LLC now owns 1,559 shares of the industrial products company’s stock valued at $341,000 after purchasing an additional 50 shares in the last quarter. Procyon Advisors LLC grew its position in shares of Avery Dennison by 4.0% during the 3rd quarter. Procyon Advisors LLC now owns 1,442 shares of the industrial products company’s stock valued at $319,000 after purchasing an additional 56 shares in the last quarter. Bailard Inc. grew its position in Avery Dennison by 0.5% in the second quarter. Bailard Inc. now owns 12,202 shares of the industrial products company’s stock worth $2,668,000 after acquiring an additional 61 shares in the last quarter. Finally, Great Diamond Partners LLC grew its position in Avery Dennison by 1.7% in the first quarter. Great Diamond Partners LLC now owns 4,269 shares of the industrial products company’s stock worth $953,000 after acquiring an additional 72 shares in the last quarter. 94.17% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Avery Dennison

In other news, Chairman Mitchell R. Butier sold 3,000 shares of Avery Dennison stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $202.95, for a total transaction of $608,850.00. Following the sale, the chairman now owns 304,114 shares of the company’s stock, valued at approximately $61,719,936.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Avery Dennison news, Chairman Mitchell R. Butier sold 7,108 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $218.12, for a total value of $1,550,396.96. Following the completion of the transaction, the chairman now owns 304,114 shares in the company, valued at approximately $66,333,345.68. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Mitchell R. Butier sold 3,000 shares of the business’s stock in a transaction 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 sale, the chairman now owns 304,114 shares in the company, valued at approximately $61,719,936.30. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 59,108 shares of company stock valued at $12,545,087. 1.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts recently issued reports on AVY shares. BMO Capital Markets cut their target price on shares of Avery Dennison from $252.00 to $247.00 and set an “outperform” rating for the company in a research report on Thursday. Citigroup cut their target price on shares of Avery Dennison from $241.00 to $240.00 and set a “neutral” rating for the company in a research report on Wednesday, October 2nd. Truist Financial upped their target price on shares of Avery Dennison from $253.00 to $258.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Bank of America upgraded shares of Avery Dennison from an “underperform” rating to a “buy” rating and upped their target price for the stock from $207.00 to $250.00 in a research report on Thursday, October 17th. Finally, UBS Group downgraded shares of Avery Dennison from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $262.00 to $235.00 in a research note on Thursday, July 25th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $245.42.

Avery Dennison Stock Performance

Shares of NYSE:AVY opened at $207.16 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.60 and a debt-to-equity ratio of 0.89. The company has a 50-day moving average price of $216.73 and a 200-day moving average price of $218.44. The company has a market cap of $16.69 billion, a price-to-earnings ratio of 30.24, a price-to-earnings-growth ratio of 1.78 and a beta of 0.88. Avery Dennison Co. has a 12 month low of $165.21 and a 12 month high of $233.48.

Avery Dennison (NYSE:AVY) last released its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 EPS for the quarter, beating analysts’ consensus estimates of $2.32 by $0.01. The business had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.20 billion. Avery Dennison had a return on equity of 33.44% and a net margin of 7.34%. Avery Dennison’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.10 EPS. As a group, equities analysts anticipate that Avery Dennison Co. will post 9.41 EPS for the current year.

Avery Dennison Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be issued a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.70%. The ex-dividend date is Wednesday, December 4th. Avery Dennison’s dividend payout ratio (DPR) is currently 51.39%.

Avery Dennison Company 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.