Coastline Trust Co Sells 750 Shares of Avery Dennison Co. (NYSE:AVY)

Coastline Trust Co lessened its stake in Avery Dennison Co. (NYSE:AVY) by 12.9% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 5,080 shares of the industrial products company’s stock after selling 750 shares during the period. Coastline Trust Co’s holdings in Avery Dennison were worth $1,121,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Innealta Capital LLC acquired a new position in shares of Avery Dennison during the second quarter valued at $28,000. Kennebec Savings Bank bought a new stake in Avery Dennison during the 3rd quarter worth about $36,000. Ashton Thomas Private Wealth LLC acquired a new position in Avery Dennison during the 2nd quarter valued at about $42,000. 1620 Investment Advisors Inc. bought a new position in shares of Avery Dennison in the 2nd quarter valued at about $51,000. Finally, Raleigh Capital Management Inc. grew its position in shares of Avery Dennison by 1,400.0% during the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the industrial products company’s stock worth $56,000 after buying an additional 238 shares during the period. Institutional investors and hedge funds own 94.17% of the company’s stock.

Insider Activity

In other Avery Dennison news, Chairman Mitchell R. Butier sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $214.21, for a total transaction of $2,142,100.00. Following the transaction, the chairman now owns 304,114 shares of the company’s stock, valued at $65,144,259.94. The trade was a 3.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 27,108 shares of company stock worth $5,821,497 in the last quarter. Corporate insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. JPMorgan Chase & Co. lowered shares of Avery Dennison from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $230.00 to $210.00 in a report on Thursday, October 24th. Bank of America raised Avery Dennison from an “underperform” rating to a “buy” rating and increased their price target for the company from $207.00 to $250.00 in a research note on Thursday, October 17th. Citigroup decreased their price objective on Avery Dennison from $241.00 to $240.00 and set a “neutral” rating for the company in a research note on Wednesday, October 2nd. UBS Group lowered Avery Dennison from a “buy” rating to a “neutral” rating and cut their target price for the company from $262.00 to $235.00 in a research note on Thursday, July 25th. Finally, Truist Financial boosted their target price on Avery Dennison from $253.00 to $258.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $244.96.

Avery Dennison Stock Performance

Shares of AVY stock opened at $197.73 on Friday. The company has a market capitalization of $15.89 billion, a P/E ratio of 23.74, a price-to-earnings-growth ratio of 1.56 and a beta of 0.89. Avery Dennison Co. has a 52 week low of $186.66 and a 52 week high of $233.48. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.62 and a current ratio of 0.92. The company’s 50 day moving average price is $212.79 and its two-hundred day moving average price is $217.52.

Avery Dennison (NYSE:AVY) last posted its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $2.33 EPS for the quarter, beating the consensus estimate of $2.32 by $0.01. The business had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.20 billion. Avery Dennison had a net margin of 7.76% and a return on equity of 33.01%. The firm’s revenue was up 4.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.10 EPS. On average, analysts expect that Avery Dennison Co. will post 9.42 earnings per share for the current fiscal year.

Avery Dennison Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date is Wednesday, December 4th. Avery Dennison’s dividend payout ratio (DPR) is currently 42.26%.

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.