Ferguson Wellman Capital Management Inc. Has $13.16 Million Stock Position in Avery Dennison Co. (NYSE:AVY)

Ferguson Wellman Capital Management Inc. lowered its stake in Avery Dennison Co. (NYSE:AVY) by 7.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 59,630 shares of the industrial products company’s stock after selling 5,064 shares during the quarter. Ferguson Wellman Capital Management Inc. owned about 0.07% of Avery Dennison worth $13,164,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Victory Capital Management Inc. raised its stake in Avery Dennison by 2.1% during the 2nd quarter. Victory Capital Management Inc. now owns 1,326,548 shares of the industrial products company’s stock worth $290,050,000 after buying an additional 27,771 shares during the period. Boston Partners raised its stake in Avery Dennison by 3.6% during the 1st quarter. Boston Partners now owns 1,019,802 shares of the industrial products company’s stock worth $227,660,000 after buying an additional 35,538 shares during the period. Meridiem Investment Management Ltd. raised its stake in Avery Dennison by 0.7% during the 3rd quarter. Meridiem Investment Management Ltd. now owns 794,092 shares of the industrial products company’s stock worth $175,261,000 after buying an additional 5,756 shares during the period. Dimensional Fund Advisors LP raised its stake in Avery Dennison by 4.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 787,716 shares of the industrial products company’s stock worth $172,254,000 after buying an additional 32,467 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in Avery Dennison by 2.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 646,223 shares of the industrial products company’s stock worth $141,297,000 after buying an additional 17,158 shares during the period. Institutional investors and hedge funds own 94.17% of the company’s stock.

Insider Transactions at Avery Dennison

In other news, Chairman Mitchell R. Butier sold 3,000 shares of Avery Dennison stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $202.95, for a total value of $608,850.00. Following the completion of the sale, the chairman now directly owns 304,114 shares in the company, valued at approximately $61,719,936.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Chairman Mitchell R. Butier sold 10,000 shares of Avery Dennison stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $212.90, for a total value of $2,129,000.00. Following the completion of the sale, the chairman now directly owns 304,114 shares in the company, valued at approximately $64,745,870.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Mitchell R. Butier sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $202.95, for a total transaction of $608,850.00. Following the transaction, the chairman now owns 304,114 shares of the company’s stock, valued at approximately $61,719,936.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 59,108 shares of company stock worth $12,545,087 over the last quarter. Company insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on AVY. UBS Group downgraded Avery Dennison from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $262.00 to $235.00 in a research note on Thursday, July 25th. Bank of America raised Avery Dennison from an “underperform” rating to a “buy” rating and lifted their price target for the company from $207.00 to $250.00 in a research note on Thursday. BMO Capital Markets reissued an “outperform” rating and issued a $252.00 price target (down previously from $254.00) on shares of Avery Dennison in a research note on Thursday, September 19th. Barclays started coverage on Avery Dennison in a research note on Monday, October 7th. They issued an “overweight” rating and a $250.00 price target on the stock. Finally, Stifel Nicolaus started coverage on Avery Dennison in a research note on Tuesday, July 9th. They issued a “buy” rating and a $274.60 price target on the stock. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $246.78.

Avery Dennison Stock Performance

Shares of NYSE:AVY traded down $1.03 during trading on Friday, reaching $217.33. 427,863 shares of the stock were exchanged, compared to its average volume of 459,212. Avery Dennison Co. has a 12 month low of $165.21 and a 12 month high of $233.48. The firm has a market cap of $17.51 billion, a PE ratio of 31.73, a PEG ratio of 1.78 and a beta of 0.88. The stock has a 50-day moving average price of $216.80 and a 200-day moving average price of $218.78. The company has a current ratio of 0.90, a quick ratio of 0.60 and a debt-to-equity ratio of 0.89.

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

Avery Dennison Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th were issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date was Wednesday, September 4th. Avery Dennison’s dividend payout ratio is presently 51.39%.

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.