Curi RMB Capital LLC Decreases Stock Position in Avery Dennison Co. (NYSE:AVY)

Curi RMB Capital LLC lessened its stake in Avery Dennison Co. (NYSE:AVY) by 1.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 101,697 shares of the industrial products company’s stock after selling 1,894 shares during the period. Curi RMB Capital LLC owned about 0.13% of Avery Dennison worth $22,451,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Victory Capital Management Inc. raised its holdings in shares of Avery Dennison by 6.8% during the third quarter. Victory Capital Management Inc. now owns 1,416,798 shares of the industrial products company’s stock worth $312,772,000 after purchasing an additional 90,250 shares during the period. Boston Partners raised its holdings in shares of Avery Dennison by 3.6% during the first quarter. Boston Partners now owns 1,019,802 shares of the industrial products company’s stock valued at $227,660,000 after buying an additional 35,538 shares during the last quarter. Meridiem Investment Management Ltd. boosted its position in shares of Avery Dennison by 0.7% during the third quarter. Meridiem Investment Management Ltd. now owns 794,092 shares of the industrial products company’s stock worth $175,261,000 after buying an additional 5,756 shares during the period. Dimensional Fund Advisors LP grew its holdings in Avery Dennison by 4.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 787,716 shares of the industrial products company’s stock worth $172,254,000 after buying an additional 32,467 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in Avery Dennison by 2.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 646,223 shares of the industrial products company’s stock valued at $141,297,000 after acquiring an additional 17,158 shares during the period. Institutional investors and hedge funds own 94.17% of the company’s stock.

Insider Buying and Selling at Avery Dennison

In other news, Chairman Mitchell R. Butier sold 10,000 shares of Avery Dennison stock in a transaction on Monday, August 19th. The stock was sold at an average price of $212.90, for a total transaction of $2,129,000.00. Following the transaction, the chairman now owns 304,114 shares in the company, valued at approximately $64,745,870.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Chairman Mitchell R. Butier sold 10,000 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $212.90, for a total value of $2,129,000.00. Following the transaction, the chairman now directly owns 304,114 shares of the company’s stock, valued at approximately $64,745,870.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Mitchell R. Butier sold 7,108 shares of the company’s 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 completion of the sale, the chairman now owns 304,114 shares of the company’s stock, valued at $66,333,345.68. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 37,108 shares of company stock valued at $7,940,597 in the last three months. 1.10% of the stock is currently owned by company insiders.

Avery Dennison Stock Up 0.2 %

Shares of Avery Dennison stock opened at $202.98 on Thursday. The company has a quick ratio of 0.62, a current ratio of 0.92 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 PE ratio of 24.37, a price-to-earnings-growth ratio of 1.56 and a beta of 0.89. The stock’s fifty day moving average is $213.87 and its 200-day moving average is $217.89.

Avery Dennison (NYSE:AVY) last posted its quarterly earnings data 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 company had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.20 billion. Avery Dennison had a net margin of 7.76% and a return on equity of 33.01%. The business’s quarterly revenue was up 4.1% on a year-over-year basis. During the same period in the prior year, the firm earned $2.10 earnings per share. Equities analysts anticipate that Avery Dennison Co. will post 9.42 earnings per share for the current year.

Avery Dennison Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.73%. The ex-dividend date of this dividend is Wednesday, December 4th. Avery Dennison’s payout ratio is 42.26%.

Wall Street Analysts Forecast Growth

AVY has been the topic of a number of recent analyst reports. UBS Group cut shares of Avery Dennison from a “buy” rating to a “neutral” rating and cut their price objective for the company from $262.00 to $235.00 in a research note on Thursday, July 25th. Truist Financial boosted their price target 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. StockNews.com lowered shares of Avery Dennison from a “buy” rating to a “hold” rating in a research note on Thursday, October 24th. Citigroup cut their target price on Avery Dennison from $241.00 to $240.00 and set a “neutral” rating for the company in a research report on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. cut Avery Dennison from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $230.00 to $210.00 in a research report on Thursday, October 24th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $244.96.

About Avery Dennison

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.