Farther Finance Advisors LLC Lowers Stock Holdings in Avery Dennison Co. (NYSE:AVY)

Farther Finance Advisors LLC trimmed its stake in Avery Dennison Co. (NYSE:AVY) by 76.8% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 273 shares of the industrial products company’s stock after selling 902 shares during the period. Farther Finance Advisors LLC’s holdings in Avery Dennison were worth $60,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in AVY. Innealta Capital LLC bought a new stake in shares of Avery Dennison in the 2nd quarter valued at about $28,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of Avery Dennison in the 2nd quarter valued at about $42,000. 1620 Investment Advisors Inc. bought a new stake in shares of Avery Dennison in the 2nd quarter valued at about $51,000. Raleigh Capital Management Inc. raised its holdings in shares of Avery Dennison by 1,400.0% in the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the industrial products company’s stock valued at $56,000 after purchasing an additional 238 shares in the last quarter. Finally, Versant Capital Management Inc raised its holdings in shares of Avery Dennison by 936.7% in the 2nd quarter. Versant Capital Management Inc now owns 311 shares of the industrial products company’s stock valued at $68,000 after purchasing an additional 281 shares in the last quarter. 94.17% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Chairman Mitchell R. Butier sold 10,000 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $211.91, for a total value of $2,119,100.00. Following the sale, the chairman now directly owns 304,114 shares of the company’s stock, valued at $64,444,797.74. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Chairman Mitchell R. Butier sold 10,000 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $211.91, for a total transaction of $2,119,100.00. Following the sale, the chairman now directly owns 304,114 shares of the company’s stock, valued at approximately $64,444,797.74. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, 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 transaction of $1,550,396.96. Following the sale, the chairman now directly owns 304,114 shares in the company, valued at $66,333,345.68. 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 37,108 shares of company stock valued at $7,940,597 in the last ninety days. Insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

AVY has been the subject of several recent research reports. JPMorgan Chase & Co. lowered shares of Avery Dennison from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $230.00 to $210.00 in a report on Thursday, October 24th. UBS Group lowered shares of Avery Dennison from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $262.00 to $235.00 in a research note on Thursday, July 25th. Bank of America upgraded shares of 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 note on Thursday, October 17th. Barclays reduced their price objective on shares of Avery Dennison from $250.00 to $245.00 and set an “overweight” rating for the company in a research note on Monday, October 28th. Finally, StockNews.com lowered shares of Avery Dennison from a “buy” rating to a “hold” rating in a research note on Thursday, October 24th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $244.96.

Avery Dennison Trading Up 0.2 %

Shares of Avery Dennison stock opened at $202.98 on Thursday. The company has a current ratio of 0.92, a quick ratio of 0.62 and a debt-to-equity ratio of 0.85. Avery Dennison Co. has a 12-month low of $182.68 and a 12-month high of $233.48. The firm has a market capitalization of $16.31 billion, a price-to-earnings ratio of 24.36, a PEG ratio of 1.56 and a beta of 0.89. The firm’s 50 day simple moving average is $213.87 and its two-hundred day simple moving average is $217.89.

Avery Dennison (NYSE:AVY) last released its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $2.33 EPS for the quarter, beating the consensus estimate of $2.32 by $0.01. The business had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.20 billion. Avery Dennison had a net margin of 7.76% and a return on equity of 33.01%. The business’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same period in the prior year, the firm earned $2.10 EPS. Analysts predict that Avery Dennison Co. will post 9.42 EPS for the current year.

Avery Dennison Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be issued a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.73%. The ex-dividend date is Wednesday, December 4th. Avery Dennison’s dividend payout ratio (DPR) is currently 42.26%.

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.