Palisade Capital Management LP purchased a new stake in shares of Avery Dennison Corporation (NYSE:AVY – Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 8,442 shares of the industrial products company’s stock, valued at approximately $1,371,000.
Several other institutional investors also recently modified their holdings of AVY. BlackRock Inc. bought a new stake in Avery Dennison during the second quarter valued at approximately $1,052,464,000. Norges Bank purchased a new stake in shares of Avery Dennison during the 4th quarter valued at $188,438,000. The Manufacturers Life Insurance Company bought a new stake in shares of Avery Dennison during the 2nd quarter worth $118,728,000. Morgan Stanley grew its position in Avery Dennison by 20.1% in the fourth quarter. Morgan Stanley now owns 3,869,889 shares of the industrial products company’s stock worth $703,856,000 after acquiring an additional 647,795 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in Avery Dennison by 12.5% in the third quarter. Wellington Management Group LLP now owns 5,808,960 shares of the industrial products company’s stock valued at $942,039,000 after acquiring an additional 644,664 shares during the last quarter. 94.17% of the stock is currently owned by institutional investors.
Avery Dennison Stock Performance
Avery Dennison stock opened at $182.47 on Thursday. The firm has a fifty day simple moving average of $168.10 and a two-hundred day simple moving average of $170.01. The company has a quick ratio of 0.79, a current ratio of 1.13 and a debt-to-equity ratio of 1.37. Avery Dennison Corporation has a twelve month low of $152.42 and a twelve month high of $199.54. The company has a market capitalization of $13.83 billion, a PE ratio of 19.99, a P/E/G ratio of 2.30 and a beta of 0.81.
Avery Dennison Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Wednesday, September 2nd will be given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.2%. The ex-dividend date is Wednesday, September 2nd. Avery Dennison’s dividend payout ratio (DPR) is presently 43.81%.
Insider Buying and Selling
In other Avery Dennison news, SVP Ignacio J. Walker sold 1,742 shares of Avery Dennison stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $171.61, for a total value of $298,944.62. Following the transaction, the senior vice president directly owned 7,585 shares of the company’s stock, valued at $1,301,661.85. The trade was a 18.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.81% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
AVY has been the subject of several research analyst reports. Wall Street Zen raised Avery Dennison from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Argus set a $175.00 price objective on Avery Dennison in a report on Thursday, June 4th. UBS Group boosted their target price on Avery Dennison from $218.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. JPMorgan Chase & Co. upped their target price on Avery Dennison from $185.00 to $190.00 and gave the stock an “overweight” rating in a research note on Friday, July 31st. Finally, Truist Financial reduced their price target on shares of Avery Dennison from $221.00 to $209.00 and set a “buy” rating on the stock in a research report on Wednesday, July 15th. Seven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $201.22.
Read Our Latest Stock Analysis on Avery Dennison
Avery Dennison Profile
Avery Dennison (NYSE:AVY) is a global materials science and manufacturing company specializing in labeling and packaging solutions. The company develops pressure-sensitive materials, tags and labels, and adhesive technologies that help brands and businesses enhance product identification, branding and supply-chain performance. Avery Dennison’s offerings range from industrial and retail labeling to high-performance tapes, films and graphics materials used across multiple end markets.
The company operates through several key segments, including Label and Graphic Materials, which supplies pressure-sensitive materials for consumer goods; Retail Branding and Information Solutions, offering apparel tags, RFID inlays and digital product identification; Pressure-Sensitive Materials, providing specialty tapes and adhesives; and RF Technologies, focused on advanced RFID and IoT labeling solutions.
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