StoneX Group Inc. Purchases New Shares in Avery Dennison Corporation $AVY

StoneX Group Inc. acquired a new position in Avery Dennison Corporation (NYSE:AVY) during the third quarter, HoldingsChannel reports. The institutional investor acquired 11,758 shares of the industrial products company’s stock, valued at approximately $2,007,000.

Other hedge funds have also modified their holdings of the company. Parallel Advisors LLC increased its position in Avery Dennison by 75.0% in the third quarter. Parallel Advisors LLC now owns 1,381 shares of the industrial products company’s stock worth $236,000 after purchasing an additional 592 shares during the last quarter. Calamos Advisors LLC lifted its position in Avery Dennison by 2.1% during the third quarter. Calamos Advisors LLC now owns 46,675 shares of the industrial products company’s stock valued at $7,966,000 after purchasing an additional 944 shares during the last quarter. Kestra Advisory Services LLC grew its stake in shares of Avery Dennison by 10.3% in the 3rd quarter. Kestra Advisory Services LLC now owns 5,969 shares of the industrial products company’s stock worth $1,019,000 after buying an additional 555 shares in the last quarter. Chicago Partners Investment Group LLC grew its stake in shares of Avery Dennison by 39.5% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 4,672 shares of the industrial products company’s stock worth $850,000 after buying an additional 1,323 shares in the last quarter. Finally, Covestor Ltd increased its holdings in shares of Avery Dennison by 47.4% in the 3rd quarter. Covestor Ltd now owns 454 shares of the industrial products company’s stock worth $78,000 after buying an additional 146 shares during the last quarter. 94.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on AVY shares. UBS Group upped their target price on shares of Avery Dennison from $225.00 to $230.00 and gave the company a “buy” rating in a research report on Friday, October 30th. Weiss Ratings upgraded Avery Dennison from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday. Wall Street Zen cut Avery Dennison from a “buy” rating to a “hold” rating in a research note on Sunday. Bank of America restated a “buy” rating on shares of Avery Dennison in a research report on Friday, August 14th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $181.00 price objective on shares of Avery Dennison in a research note on Monday, September 28th. Six research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Avery Dennison presently has an average rating of “Moderate Buy” and an average target price of $201.10.

Avery Dennison Trading Up 0.0%

AVY stock opened at $186.81 on Monday. The company has a quick ratio of 0.80, a current ratio of 1.16 and a debt-to-equity ratio of 1.33. Avery Dennison Corporation has a twelve month low of $152.42 and a twelve month high of $199.54. The stock has a market capitalization of $14.11 billion, a price-to-earnings ratio of 20.22, a price-to-earnings-growth ratio of 2.20 and a beta of 0.77. The firm’s fifty day simple moving average is $174.92 and its two-hundred day simple moving average is $172.32.

Avery Dennison (NYSE:AVY) last released its earnings results on Thursday, October 29th. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.32 by $0.10. The firm had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.26 billion. Avery Dennison had a net margin of 7.56% and a return on equity of 33.88%. The business’s revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the business earned $2.37 EPS. As a group, analysts anticipate that Avery Dennison Corporation will post 10.17 earnings per share for the current year.

Avery Dennison Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 16th. Shareholders of record on Wednesday, December 2nd will be paid a $1.00 dividend. The ex-dividend date of this dividend is Wednesday, December 2nd. This represents a $4.00 annualized dividend and a yield of 2.1%. Avery Dennison’s dividend payout ratio (DPR) is presently 43.29%.

Insider Activity at Avery Dennison

In other news, SVP Nicholas Colisto sold 3,886 shares of the company’s stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $170.68, for a total transaction of $663,262.48. Following the transaction, the senior vice president owned 7,126 shares of the company’s stock, valued at approximately $1,216,265.68. This represents a 35.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Andres Alberto Lopez sold 4,000 shares of the stock in a transaction that occurred on Thursday, November 5th. The stock was sold at an average price of $193.80, for a total value of $775,200.00. Following the completion of the sale, the director owned 1,147 shares in the company, valued at approximately $222,288.60. The trade was a 77.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.81% of the stock is owned by insiders.

Avery Dennison Company Profile

Avery Dennison is a global materials science and digital identification solutions company. Its products include pressure-sensitive labels and adhesives, packaging materials, and graphic films used in applications such as product labeling, vehicle graphics, and building signage.

The company also develops technologies that help businesses identify and track products, including RFID inlays and tags, which can support inventory management and supply-chain visibility. Its solutions serve customers across industries such as apparel, food and beverage, logistics, healthcare, and retail.

Founded in 1935 by R.