Impax Asset Management Group plc Sells 9,823 Shares of Avery Dennison Co. (NYSE:AVY)

Impax Asset Management Group plc decreased its holdings in shares of Avery Dennison Co. (NYSE:AVY) by 8.0% in the 3rd quarter, Holdings Channel.com reports. The firm owned 112,231 shares of the industrial products company’s stock after selling 9,823 shares during the quarter. Impax Asset Management Group plc’s holdings in Avery Dennison were worth $24,776,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AVY. First Trust Direct Indexing L.P. increased its position in Avery Dennison by 12.2% during the first quarter. First Trust Direct Indexing L.P. now owns 1,344 shares of the industrial products company’s stock worth $300,000 after acquiring an additional 146 shares during the period. Private Advisor Group LLC lifted its stake in shares of Avery Dennison by 1.0% in the first quarter. Private Advisor Group LLC now owns 11,940 shares of the industrial products company’s stock valued at $2,666,000 after buying an additional 121 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in Avery Dennison by 6.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 30,164 shares of the industrial products company’s stock valued at $6,734,000 after acquiring an additional 1,762 shares during the period. BNP Paribas Financial Markets raised its holdings in Avery Dennison by 34.0% in the 1st quarter. BNP Paribas Financial Markets now owns 107,808 shares of the industrial products company’s stock valued at $24,068,000 after acquiring an additional 27,380 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. grew its holdings in shares of Avery Dennison by 5.9% during the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,959 shares of the industrial products company’s stock worth $437,000 after purchasing an additional 110 shares in the last quarter. Institutional investors and hedge funds own 94.17% of the company’s stock.

Avery Dennison Trading Down 0.3 %

Shares of NYSE AVY opened at $205.57 on Tuesday. The company has a current ratio of 0.92, a quick ratio of 0.62 and a debt-to-equity ratio of 0.85. Avery Dennison Co. has a 1-year low of $176.75 and a 1-year high of $233.48. The company has a 50-day moving average of $215.67 and a two-hundred day moving average of $218.28. The company has a market cap of $16.52 billion, a PE ratio of 24.68, a P/E/G ratio of 1.59 and a beta of 0.89.

Avery Dennison (NYSE:AVY) last posted its earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.32 by $0.01. Avery Dennison had a return on equity of 33.01% and a net margin of 7.76%. The company had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.20 billion. During the same period in the previous year, the company earned $2.10 EPS. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. As a group, equities analysts expect that Avery Dennison Co. will post 9.41 earnings per share for the current fiscal year.

Avery Dennison Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be issued a dividend of $0.88 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.71%. Avery Dennison’s payout ratio is presently 42.26%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Barclays reduced their target price on Avery Dennison from $250.00 to $245.00 and set an “overweight” rating for the company in a research report on Monday, October 28th. UBS Group cut shares of Avery Dennison from a “buy” rating to a “neutral” rating and lowered their target price for the company from $262.00 to $235.00 in a research note on Thursday, July 25th. BMO Capital Markets dropped their price target on shares of Avery Dennison from $252.00 to $247.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. StockNews.com lowered Avery Dennison from a “buy” rating to a “hold” rating in a research note on Thursday, October 24th. Finally, Bank of America raised Avery Dennison from an “underperform” rating to a “buy” rating and increased their target price for the stock from $207.00 to $250.00 in a report on Thursday, October 17th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $244.96.

Insider Transactions at Avery Dennison

In related news, Chairman Mitchell R. Butier sold 3,000 shares of Avery Dennison stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $206.80, for a total value of $620,400.00. Following the sale, the chairman now owns 304,114 shares of the company’s stock, valued at approximately $62,890,775.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Chairman Mitchell R. Butier sold 3,000 shares of the business’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $206.80, for a total transaction of $620,400.00. Following the transaction, the chairman now directly owns 304,114 shares in the company, valued at approximately $62,890,775.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Mitchell R. Butier sold 7,108 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $218.12, for a total transaction of $1,550,396.96. Following the completion of the sale, the chairman now owns 304,114 shares of the company’s stock, valued at approximately $66,333,345.68. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 46,108 shares of company stock worth $9,798,737 in the last three months. Insiders own 1.10% of the company’s stock.

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.