Boston Trust Walden Corp Sells 14,400 Shares of Avery Dennison Corporation $AVY

Boston Trust Walden Corp decreased its stake in shares of Avery Dennison Corporation (NYSE:AVY) by 4.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 300,128 shares of the industrial products company’s stock after selling 14,400 shares during the period. Boston Trust Walden Corp’s holdings in Avery Dennison were worth $51,223,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of AVY. Chicago Partners Investment Group LLC raised its stake in Avery Dennison by 39.5% during the third quarter. Chicago Partners Investment Group LLC now owns 4,672 shares of the industrial products company’s stock valued at $850,000 after buying an additional 1,323 shares in the last quarter. Covestor Ltd grew its position 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 acquiring an additional 146 shares in the last quarter. Ascent Group LLC acquired a new position in shares of Avery Dennison in the 3rd quarter worth approximately $206,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Avery Dennison in the 3rd quarter worth approximately $3,474,000. Finally, ProShare Advisors LLC increased its holdings in shares of Avery Dennison by 8.4% in the 3rd quarter. ProShare Advisors LLC now owns 16,972 shares of the industrial products company’s stock valued at $2,897,000 after acquiring an additional 1,321 shares during the last quarter. 94.17% of the stock is currently owned by institutional investors and hedge funds.

Avery Dennison Stock Performance

Shares of NYSE AVY opened at $192.96 on Thursday. Avery Dennison Corporation has a 12-month low of $152.42 and a 12-month high of $199.54. The company has a market cap of $14.62 billion, a PE ratio of 20.88, a P/E/G ratio of 2.19 and a beta of 0.77. The stock has a 50 day simple moving average of $174.60 and a 200-day simple moving average of $172.29. The company has a current ratio of 1.16, a quick ratio of 0.80 and a debt-to-equity ratio of 1.33.

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

Avery Dennison Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts recently issued reports on AVY shares. Bank of America reissued a “buy” rating on shares of Avery Dennison in a research report on Friday, August 14th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $181.00 target price on shares of Avery Dennison in a research report on Monday, September 28th. Wall Street Zen lowered shares of Avery Dennison from a “buy” rating to a “hold” rating in a research report on Saturday, October 31st. Weiss Ratings raised shares of Avery Dennison from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. Finally, Truist Financial cut their price objective on shares of Avery Dennison from $209.00 to $208.00 and set a “buy” rating on the stock in a research report on Monday, October 12th. Six equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $201.10.

Insiders Place Their Bets

In related news, SVP Nicholas Colisto sold 3,886 shares of the firm’s stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $170.68, for a total transaction of $663,262.48. Following the completion of the transaction, the senior vice president owned 7,126 shares of the company’s stock, valued at $1,216,265.68. This trade represents a 35.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.81% of the stock is owned by corporate insiders.

Avery Dennison Profile

Avery Dennison Corporation (NYSE: AVY) is a global materials science and manufacturing company that develops and produces labeling, packaging, graphic, and functional materials. Its products are used by businesses across industries including consumer goods, retail, logistics, apparel, automotive, healthcare, and industrial manufacturing.

The company’s offerings include pressure-sensitive labels and label materials, adhesives, industrial and specialty tapes, graphic films, and packaging materials.