Squarepoint Ops LLC lifted its stake in Avery Dennison Corporation (NYSE:AVY – Free Report) by 1,402.2% in the second quarter, HoldingsChannel.com reports. The firm owned 30,870 shares of the industrial products company’s stock after purchasing an additional 28,815 shares during the quarter. Squarepoint Ops LLC’s holdings in Avery Dennison were worth $5,012,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of AVY. Trust Co. of Vermont bought a new stake in shares of Avery Dennison during the second quarter worth $27,000. Elevation Wealth Partners LLC lifted its stake in shares of Avery Dennison by 684.0% during the second quarter. Elevation Wealth Partners LLC now owns 196 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 171 shares during the period. Root Financial Partners LLC boosted its holdings in Avery Dennison by 60.8% in the fourth quarter. Root Financial Partners LLC now owns 193 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 73 shares during the last quarter. Measured Wealth Private Client Group LLC bought a new position in Avery Dennison in the third quarter valued at about $36,000. Finally, Godfrey Financial Associates Inc. acquired a new stake in Avery Dennison in the fourth quarter worth about $37,000. 94.17% of the stock is currently owned by institutional investors.
Avery Dennison Trading Up 0.4%
NYSE:AVY opened at $169.49 on Friday. The company has a current ratio of 1.13, a quick ratio of 0.79 and a debt-to-equity ratio of 1.37. Avery Dennison Corporation has a 1-year low of $152.42 and a 1-year high of $199.54. The firm has a market capitalization of $12.85 billion, a price-to-earnings ratio of 18.56, a PEG ratio of 2.04 and a beta of 0.81. The business’s 50-day moving average price is $170.76 and its two-hundred day moving average price is $168.47.
Avery Dennison Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Wednesday, September 2nd will be issued a dividend of $1.00 per share. The ex-dividend date is Wednesday, September 2nd. This represents a $4.00 dividend on an annualized basis and a yield of 2.4%. Avery Dennison’s payout ratio is currently 43.81%.
Insider Buying and Selling
In other Avery Dennison news, SVP Ignacio Walker sold 1,742 shares of the stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $171.61, for a total value of $298,944.62. Following the sale, the senior vice president directly owned 7,585 shares in the company, valued at approximately $1,301,661.85. This trade represents a 18.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.81% of the company’s stock.
Wall Street Analyst Weigh In
A number of research analysts have issued reports on the stock. UBS Group upped their target price on shares of Avery Dennison from $218.00 to $225.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Wall Street Zen upgraded shares of Avery Dennison from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Truist Financial dropped their price target on shares of Avery Dennison from $221.00 to $209.00 and set a “buy” rating for the company in a research note on Wednesday, July 15th. Citigroup increased their price objective on shares of Avery Dennison from $184.00 to $186.00 and gave the company a “neutral” rating in a report on Friday, July 31st. Finally, Bank of America reaffirmed a “buy” rating on shares of Avery Dennison in a research note on Friday, August 14th. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Avery Dennison presently has an average rating of “Moderate Buy” and an average price target of $201.22.
Check Out Our Latest Stock Analysis on Avery Dennison
About Avery Dennison
Avery Dennison Corporation (NYSE: AVY) is a global materials science and manufacturing company that develops labeling, packaging, graphics, and functional material solutions. Its products are used by businesses in industries including retail, apparel, food and beverage, logistics, healthcare, automotive, and industrial manufacturing.
The company’s offerings include pressure-sensitive label and packaging materials, graphic films, reflective materials, specialty tapes, performance polymers, and other adhesive products.
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