Curi RMB Capital LLC Sells 1,894 Shares of Avery Dennison Co. (NYSE:AVY)

Curi RMB Capital LLC lowered its stake in shares of Avery Dennison Co. (NYSE:AVY) by 1.8% in the third quarter, Holdings Channel reports. The institutional investor owned 101,697 shares of the industrial products company’s stock after selling 1,894 shares during the period. Curi RMB Capital LLC’s holdings in Avery Dennison were worth $22,451,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Quantbot Technologies LP acquired a new stake in shares of Avery Dennison during the 1st quarter worth approximately $306,000. QRG Capital Management Inc. boosted its stake in Avery Dennison by 24.5% during the first quarter. QRG Capital Management Inc. now owns 4,583 shares of the industrial products company’s stock worth $1,023,000 after buying an additional 901 shares in the last quarter. US Bancorp DE boosted its stake in Avery Dennison by 0.5% during the first quarter. US Bancorp DE now owns 37,184 shares of the industrial products company’s stock worth $8,302,000 after buying an additional 199 shares in the last quarter. Avantax Advisory Services Inc. increased its holdings in Avery Dennison by 2.1% in the 1st quarter. Avantax Advisory Services Inc. now owns 4,423 shares of the industrial products company’s stock valued at $988,000 after buying an additional 90 shares during the period. Finally, Bleakley Financial Group LLC acquired a new position in shares of Avery Dennison in the 1st quarter valued at $205,000. Institutional investors own 94.17% of the company’s stock.

Insider Transactions at Avery Dennison

In related news, Chairman Mitchell R. Butier sold 7,108 shares of the firm’s stock in a transaction dated 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 transaction, the chairman now owns 304,114 shares in the company, valued at $66,333,345.68. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Chairman Mitchell R. Butier sold 7,108 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $218.12, for a total value of $1,550,396.96. Following the transaction, the chairman now directly owns 304,114 shares in the company, valued at $66,333,345.68. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Mitchell R. Butier sold 10,000 shares of Avery Dennison stock in a transaction on Friday, August 16th. The stock was sold at an average price of $211.91, for a total transaction of $2,119,100.00. Following the sale, the chairman now directly owns 304,114 shares of the company’s stock, valued at $64,444,797.74. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 37,108 shares of company stock worth $7,940,597 over the last 90 days. 1.10% of the stock is owned by insiders.

Avery Dennison Stock Performance

Shares of NYSE:AVY opened at $202.98 on Thursday. The business has a fifty day moving average of $213.87 and a 200-day moving average of $217.89. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.62 and a current ratio of 0.92. Avery Dennison Co. has a twelve month low of $182.68 and a twelve month high of $233.48. The firm has a market cap 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.

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

Avery Dennison Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be paid a $0.88 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $3.52 annualized dividend and a dividend yield of 1.73%. Avery Dennison’s dividend payout ratio (DPR) is currently 42.26%.

Analyst Ratings Changes

Several brokerages have recently weighed in on AVY. StockNews.com lowered shares of Avery Dennison from a “buy” rating to a “hold” rating in a research report on Thursday, October 24th. UBS Group downgraded Avery Dennison from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $262.00 to $235.00 in a report on Thursday, July 25th. BMO Capital Markets dropped their target price on Avery Dennison from $252.00 to $247.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Truist Financial boosted their price target on Avery Dennison from $253.00 to $258.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Finally, Bank of America upgraded Avery Dennison from an “underperform” rating to a “buy” rating and increased their price objective for the stock from $207.00 to $250.00 in a research note on Thursday, October 17th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.