Kintegral Advisory LLC Purchases 115 Shares of Avery Dennison Co. (NYSE:AVY)

Kintegral Advisory LLC increased its stake in shares of Avery Dennison Co. (NYSE:AVY) by 6.6% during the 2nd quarter, Holdings Channel.com reports. The firm owned 1,862 shares of the industrial products company’s stock after acquiring an additional 115 shares during the quarter. Kintegral Advisory LLC’s holdings in Avery Dennison were worth $407,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Boston Partners grew its position in shares of Avery Dennison by 3.6% in the 1st quarter. Boston Partners now owns 1,019,802 shares of the industrial products company’s stock valued at $227,660,000 after acquiring an additional 35,538 shares during the period. Norges Bank bought a new stake in Avery Dennison during the 4th quarter worth approximately $185,292,000. Veritas Investment Partners UK Ltd. boosted its stake in shares of Avery Dennison by 15.5% in the 4th quarter. Veritas Investment Partners UK Ltd. now owns 760,791 shares of the industrial products company’s stock valued at $153,804,000 after purchasing an additional 102,000 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Avery Dennison by 4.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 736,696 shares of the industrial products company’s stock valued at $148,933,000 after purchasing an additional 31,114 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Avery Dennison by 2.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 667,811 shares of the industrial products company’s stock valued at $135,005,000 after acquiring an additional 15,331 shares during the period. 94.17% of the stock is owned by institutional investors.

Insider Transactions at Avery Dennison

In other news, SVP Ignacio J. Walker sold 2,206 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $226.70, for a total value of $500,100.20. Following the transaction, the senior vice president now directly owns 7,082 shares of the company’s stock, valued at approximately $1,605,489.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Chairman Mitchell R. Butier sold 7,108 shares of the company’s stock in a transaction dated 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 sale, the chairman now directly owns 304,114 shares of the company’s stock, valued at approximately $66,333,345.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Ignacio J. Walker sold 2,206 shares of the stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $226.70, for a total transaction of $500,100.20. Following the completion of the transaction, the senior vice president now directly owns 7,082 shares in the company, valued at $1,605,489.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 61,463 shares of company stock worth $13,078,918. Company insiders own 1.10% of the company’s stock.

Avery Dennison Stock Performance

Shares of Avery Dennison stock traded up $1.38 on Wednesday, reaching $218.80. 471,999 shares of the company were exchanged, compared to its average volume of 448,219. Avery Dennison Co. has a 1-year low of $165.21 and a 1-year high of $233.48. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.60 and a current ratio of 0.90. The firm has a market cap of $17.62 billion, a price-to-earnings ratio of 31.94, a P/E/G ratio of 1.77 and a beta of 0.88. The company’s 50-day moving average is $216.07 and its two-hundred day moving average is $218.08.

Avery Dennison (NYSE:AVY) last released its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $2.42 earnings per share for the quarter, topping the consensus estimate of $2.26 by $0.16. Avery Dennison had a return on equity of 33.44% and a net margin of 7.34%. The business had revenue of $2.24 billion during the quarter, compared to analyst estimates of $2.18 billion. During the same period last year, the company posted $1.92 EPS. The company’s revenue was up 6.9% compared to the same quarter last year. As a group, research analysts expect that Avery Dennison Co. will post 9.39 earnings per share for the current fiscal year.

Avery Dennison Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th will be paid a $0.88 dividend. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.61%. Avery Dennison’s payout ratio is presently 51.39%.

Analyst Ratings Changes

Several research analysts have weighed in on AVY shares. Stifel Nicolaus initiated coverage on shares of Avery Dennison in a report on Tuesday, July 9th. They set a “buy” rating and a $274.60 price objective on the stock. BMO Capital Markets dropped their price objective on Avery Dennison from $256.00 to $254.00 and set an “outperform” rating on the stock in a report on Wednesday, July 24th. Truist Financial lifted their price target on Avery Dennison from $253.00 to $258.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Robert W. Baird raised their price objective on Avery Dennison from $230.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, June 7th. Finally, UBS Group downgraded shares of Avery Dennison from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $262.00 to $235.00 in a research note on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $239.96.

Avery Dennison 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.