Adams Natural Resources Fund Inc. Sells 14,500 Shares of Avery Dennison Co. (NYSE:AVY)

Adams Natural Resources Fund Inc. trimmed its position in shares of Avery Dennison Co. (NYSE:AVY) by 69.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,300 shares of the industrial products company’s stock after selling 14,500 shares during the quarter. Adams Natural Resources Fund Inc.’s holdings in Avery Dennison were worth $1,391,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in AVY. Swedbank AB bought a new stake in Avery Dennison in the 1st quarter valued at $102,117,000. Jennison Associates LLC bought a new stake in Avery Dennison in the 1st quarter valued at $44,837,000. National Bank of Canada FI lifted its position in Avery Dennison by 795.2% in the 2nd quarter. National Bank of Canada FI now owns 160,248 shares of the industrial products company’s stock valued at $34,190,000 after acquiring an additional 142,348 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in Avery Dennison by 179.5% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 216,135 shares of the industrial products company’s stock worth $47,258,000 after buying an additional 138,808 shares in the last quarter. Finally, Bahl & Gaynor Inc. lifted its position in Avery Dennison by 51.9% during the 2nd quarter. Bahl & Gaynor Inc. now owns 240,096 shares of the industrial products company’s stock worth $52,497,000 after buying an additional 81,993 shares in the last quarter. 94.17% of the stock is owned by institutional investors.

Insider Activity at Avery Dennison

In other Avery Dennison news, Chairman Mitchell R. Butier sold 10,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $213.75, for a total transaction of $2,137,500.00. Following the transaction, the chairman now owns 304,114 shares in the company, valued at $65,004,367.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Avery Dennison news, Chairman Mitchell R. Butier sold 10,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $213.75, for a total transaction of $2,137,500.00. Following the transaction, the chairman now owns 304,114 shares in the company, valued at $65,004,367.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Mitchell R. Butier sold 7,108 shares of the stock in a transaction that occurred 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 transaction, the chairman now owns 304,114 shares in the company, valued at approximately $66,333,345.68. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 59,108 shares of company stock worth $12,545,087. Insiders own 1.10% of the company’s stock.

Avery Dennison Stock Down 0.4 %

Shares of AVY opened at $206.19 on Wednesday. Avery Dennison Co. has a 52 week low of $170.42 and a 52 week high of $233.48. The firm has a market cap of $16.61 billion, a P/E ratio of 30.10, a price-to-earnings-growth ratio of 1.78 and a beta of 0.88. The firm’s 50-day simple moving average is $216.50 and its 200 day simple moving average is $218.38. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.60 and a current ratio of 0.90.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings results 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. Avery Dennison had a net margin of 7.34% and a return on equity of 33.44%. The business had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.20 billion. During the same quarter in the prior year, the business earned $2.10 EPS. Avery Dennison’s quarterly revenue was up 4.1% on a year-over-year basis. On average, analysts forecast that Avery Dennison Co. will post 9.41 earnings per share for the current year.

Avery Dennison Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be paid a $0.88 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $3.52 dividend on an annualized basis and a yield of 1.71%. Avery Dennison’s dividend payout ratio (DPR) is currently 51.39%.

Analyst Ratings Changes

AVY has been the topic of several analyst reports. UBS Group cut shares of Avery Dennison from a “buy” rating to a “neutral” rating and cut their price target for the stock from $262.00 to $235.00 in a research report 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 cut shares of Avery Dennison from a “buy” rating to a “hold” rating in a research report on Thursday, October 24th. JPMorgan Chase & Co. cut shares of Avery Dennison from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $230.00 to $210.00 in a research report on Thursday, October 24th. Finally, BMO Capital Markets lowered their price objective on shares of Avery Dennison from $252.00 to $247.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Avery Dennison currently has a consensus rating of “Moderate Buy” and an average target price of $244.96.

Avery Dennison Company 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.