Resources Management Corp CT ADV Has $1.63 Million Position in Avery Dennison Co. (NYSE:AVY)

Resources Management Corp CT ADV reduced its stake in shares of Avery Dennison Co. (NYSE:AVY) by 1.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,365 shares of the industrial products company’s stock after selling 122 shares during the quarter. Resources Management Corp CT ADV’s holdings in Avery Dennison were worth $1,626,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Swedbank AB raised its stake in Avery Dennison by 1.0% during the second quarter. Swedbank AB now owns 462,083 shares of the industrial products company’s stock worth $101,034,000 after acquiring an additional 4,673 shares in the last quarter. Victory Capital Management Inc. raised its stake in 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 acquiring an additional 90,250 shares in the last quarter. Seven Eight Capital LP acquired a new position in Avery Dennison during the second quarter worth $1,271,000. Icon Wealth Advisors LLC raised its stake in Avery Dennison by 553.5% during the third quarter. Icon Wealth Advisors LLC now owns 3,137 shares of the industrial products company’s stock worth $693,000 after acquiring an additional 2,657 shares in the last quarter. Finally, Bank of Montreal Can raised its stake in Avery Dennison by 1.9% during the second quarter. Bank of Montreal Can now owns 250,213 shares of the industrial products company’s stock worth $57,581,000 after acquiring an additional 4,752 shares in the last quarter. 94.17% of the stock is currently owned by institutional investors and hedge funds.

Avery Dennison Price Performance

Shares of AVY stock opened at $204.09 on Tuesday. The stock has a 50-day moving average price of $207.95 and a 200 day moving average price of $215.02. The company has a quick ratio of 0.62, a current ratio of 0.92 and a debt-to-equity ratio of 0.85. The firm has a market cap of $16.40 billion, a price-to-earnings ratio of 24.50, a PEG ratio of 1.56 and a beta of 0.87. Avery Dennison Co. has a 12 month low of $190.04 and a 12 month high of $233.48.

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

Avery Dennison Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date is Wednesday, December 4th. Avery Dennison’s dividend payout ratio (DPR) is currently 42.26%.

Insiders Place Their Bets

In other Avery Dennison news, SVP Nicholas Colisto sold 3,679 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $206.00, for a total transaction of $757,874.00. Following the transaction, the senior vice president now owns 7,126 shares in the company, valued at approximately $1,467,956. This trade represents a 34.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

AVY has been the subject of several recent analyst reports. JPMorgan Chase & Co. lowered Avery Dennison from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $230.00 to $210.00 in a research note on Thursday, October 24th. BMO Capital Markets lowered their target price on Avery Dennison from $252.00 to $247.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Citigroup lowered their target price on Avery Dennison from $241.00 to $240.00 and set a “neutral” rating for the company in a research note on Wednesday, October 2nd. Bank of America upgraded Avery Dennison from an “underperform” rating to a “buy” rating and raised their target price for the company from $207.00 to $250.00 in a research note on Thursday, October 17th. Finally, Barclays lowered their target price on Avery Dennison from $250.00 to $245.00 and set an “overweight” rating for the company in a research note on Monday, October 28th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $244.96.

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.