Avery Dennison Co. (NYSE:AVY) Shares Purchased by Raleigh Capital Management Inc.

Raleigh Capital Management Inc. raised its holdings in Avery Dennison Co. (NYSE:AVY) by 1,400.0% during the third quarter, HoldingsChannel reports. The firm owned 255 shares of the industrial products company’s stock after buying an additional 238 shares during the period. Raleigh Capital Management Inc.’s holdings in Avery Dennison were worth $56,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Cetera Investment Advisers raised its stake in Avery Dennison by 195.2% during the 1st quarter. Cetera Investment Advisers now owns 17,863 shares of the industrial products company’s stock valued at $3,988,000 after acquiring an additional 11,811 shares during the last quarter. Natixis lifted its holdings in shares of Avery Dennison by 365.9% during the first quarter. Natixis now owns 4,552 shares of the industrial products company’s stock worth $1,016,000 after purchasing an additional 3,575 shares during the period. Mediolanum International Funds Ltd purchased a new position in Avery Dennison in the 1st quarter valued at $2,935,000. SG Americas Securities LLC increased its stake in Avery Dennison by 86.5% in the 2nd quarter. SG Americas Securities LLC now owns 32,538 shares of the industrial products company’s stock valued at $7,114,000 after buying an additional 15,092 shares during the period. Finally, McElhenny Sheffield Capital Management LLC purchased a new position in Avery Dennison during the 2nd quarter worth $543,000. 94.17% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Avery Dennison news, Chairman Mitchell R. Butier sold 10,000 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $213.75, for a total value of $2,137,500.00. Following the completion of the transaction, the chairman now directly owns 304,114 shares in the company, valued at approximately $65,004,367.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Avery Dennison news, Chairman Mitchell R. Butier sold 7,108 shares of Avery Dennison 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 completion of the sale, the chairman now owns 304,114 shares in the company, valued at $66,333,345.68. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Mitchell R. Butier sold 10,000 shares of the stock in a transaction dated Thursday, August 1st. The stock was 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 approximately $65,004,367.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 59,108 shares of company stock worth $12,545,087. 1.10% of the stock is owned by insiders.

Avery Dennison Stock Down 2.2 %

AVY opened at $207.65 on Thursday. The firm has a market cap of $16.73 billion, a P/E ratio of 30.31, a PEG ratio of 1.78 and a beta of 0.88. The business’s fifty day simple moving average is $217.00 and its 200 day simple moving average is $218.62. Avery Dennison Co. has a 52 week low of $165.21 and a 52 week high of $233.48. The company has a quick ratio of 0.60, a current ratio of 0.90 and a debt-to-equity ratio of 0.89.

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

Analyst Ratings Changes

AVY has been the subject of several analyst reports. Citigroup cut their price target 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. BMO Capital Markets restated an “outperform” rating and issued a $252.00 price target (down from $254.00) on shares of Avery Dennison in a research note on Thursday, September 19th. Bank of America raised 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 report on Thursday, October 17th. UBS Group cut shares of Avery Dennison from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $262.00 to $235.00 in a research note on Thursday, July 25th. Finally, Truist Financial boosted their price objective on shares of Avery Dennison from $253.00 to $258.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $246.78.

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.