HTLF Bank Sells 122 Shares of Avery Dennison Co. (NYSE:AVY)

HTLF Bank lessened its stake in Avery Dennison Co. (NYSE:AVY) by 8.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,369 shares of the industrial products company’s stock after selling 122 shares during the quarter. HTLF Bank’s holdings in Avery Dennison were worth $302,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the company. Taylor Frigon Capital Management LLC increased its stake in Avery Dennison by 0.8% in the 1st quarter. Taylor Frigon Capital Management LLC now owns 6,386 shares of the industrial products company’s stock worth $1,426,000 after acquiring an additional 48 shares during the last quarter. Intech Investment Management LLC increased its position in shares of Avery Dennison by 3.3% in the second quarter. Intech Investment Management LLC now owns 1,559 shares of the industrial products company’s stock worth $341,000 after purchasing an additional 50 shares during the last quarter. Procyon Advisors LLC raised its stake in Avery Dennison by 4.0% in the third quarter. Procyon Advisors LLC now owns 1,442 shares of the industrial products company’s stock valued at $319,000 after purchasing an additional 56 shares in the last quarter. Bailard Inc. lifted its position in Avery Dennison by 0.5% during the second quarter. Bailard Inc. now owns 12,202 shares of the industrial products company’s stock valued at $2,668,000 after purchasing an additional 61 shares during the last quarter. Finally, Czech National Bank grew its stake in Avery Dennison by 0.5% in the 1st quarter. Czech National Bank now owns 14,169 shares of the industrial products company’s stock worth $3,163,000 after buying an additional 64 shares in the last quarter. Hedge funds and other institutional investors own 94.17% of the company’s stock.

Avery Dennison Stock Performance

NYSE:AVY opened at $219.86 on Wednesday. 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 Co. has a fifty-two week low of $165.21 and a fifty-two week high of $233.48. The business has a 50 day moving average price of $216.15 and a 200-day moving average price of $218.86. The firm has a market cap of $17.71 billion, a PE ratio of 32.10, a price-to-earnings-growth ratio of 1.78 and a beta of 0.88.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $2.42 earnings per share for the quarter, beating the consensus estimate of $2.26 by $0.16. Avery Dennison had a net margin of 7.34% and a return on equity of 33.44%. The business had revenue of $2.24 billion during the quarter, compared to analysts’ expectations of $2.18 billion. During the same quarter in the prior year, the company posted $1.92 EPS. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. Equities research analysts predict that Avery Dennison Co. will post 9.41 earnings per share for the current year.

Avery Dennison Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th were issued a dividend of $0.88 per share. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $3.52 dividend on an annualized basis and a yield of 1.60%. Avery Dennison’s dividend payout ratio is presently 51.39%.

Insider Buying and Selling at Avery Dennison

In other news, Chairman Mitchell R. Butier sold 7,108 shares of Avery Dennison stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $218.12, for a total value of $1,550,396.96. Following the sale, the chairman now directly owns 304,114 shares in the company, valued at approximately $66,333,345.68. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Chairman Mitchell R. Butier sold 7,108 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $218.12, for a total value 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 trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Mitchell R. Butier sold 10,000 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $214.21, for a total transaction of $2,142,100.00. Following the transaction, the chairman now directly owns 304,114 shares in the company, valued at approximately $65,144,259.94. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 59,108 shares of company stock valued at $12,545,087 in the last 90 days. Insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

AVY has been the subject of a number of research analyst reports. Citigroup dropped their price objective on shares of Avery Dennison from $241.00 to $240.00 and set a “neutral” rating for the company in a report on Wednesday, October 2nd. Stifel Nicolaus assumed coverage on Avery Dennison in a research note on Tuesday, July 9th. They set a “buy” rating and a $274.60 price target for the company. BMO Capital Markets reiterated an “outperform” rating and set a $252.00 price objective (down from $254.00) on shares of Avery Dennison in a research report on Thursday, September 19th. Truist Financial boosted their target price on Avery Dennison from $253.00 to $258.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Finally, UBS Group cut shares of Avery Dennison from a “buy” rating to a “neutral” rating and reduced their price target for the company from $262.00 to $235.00 in a research report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $242.96.

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.