Cumberland Partners Ltd Trims Stock Position in Avery Dennison Co. (NYSE:AVY)

Cumberland Partners Ltd reduced its stake in Avery Dennison Co. (NYSE:AVY) by 92.5% during the 4th quarter, HoldingsChannel reports. The firm owned 2,265 shares of the industrial products company’s stock after selling 27,789 shares during the period. Cumberland Partners Ltd’s holdings in Avery Dennison were worth $424,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the stock. Venturi Wealth Management LLC increased its stake in Avery Dennison by 32.4% in the 4th quarter. Venturi Wealth Management LLC now owns 4,492 shares of the industrial products company’s stock valued at $841,000 after buying an additional 1,100 shares during the period. CIBC Asset Management Inc boosted its holdings in shares of Avery Dennison by 3.5% in the fourth quarter. CIBC Asset Management Inc now owns 16,148 shares of the industrial products company’s stock valued at $3,022,000 after acquiring an additional 553 shares in the last quarter. Allworth Financial LP increased its stake in shares of Avery Dennison by 127.6% during the fourth quarter. Allworth Financial LP now owns 1,957 shares of the industrial products company’s stock worth $373,000 after acquiring an additional 1,097 shares during the period. Figure 8 Investment Strategies LLC purchased a new position in Avery Dennison during the fourth quarter worth about $1,461,000. Finally, Vontobel Holding Ltd. lifted its position in Avery Dennison by 11.7% in the fourth quarter. Vontobel Holding Ltd. now owns 1,434 shares of the industrial products company’s stock valued at $268,000 after purchasing an additional 150 shares during the period. Institutional investors and hedge funds own 94.17% of the company’s stock.

Avery Dennison Stock Up 0.8 %

AVY stock opened at $184.38 on Friday. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.08 and a quick ratio of 0.73. The company’s 50 day simple moving average is $187.22 and its 200-day simple moving average is $202.71. Avery Dennison Co. has a 12 month low of $178.72 and a 12 month high of $233.48. The firm has a market capitalization of $14.81 billion, a PE ratio of 21.14, a P/E/G ratio of 2.06 and a beta of 0.89.

Avery Dennison (NYSE:AVY) last announced its earnings results on Thursday, January 30th. The industrial products company reported $2.38 EPS for the quarter, missing analysts’ consensus estimates of $2.39 by ($0.01). Avery Dennison had a net margin of 8.05% and a return on equity of 33.06%. Equities analysts expect that Avery Dennison Co. will post 9.97 earnings per share for the current fiscal year.

Avery Dennison Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be paid a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.91%. The ex-dividend date is Wednesday, March 5th. Avery Dennison’s payout ratio is 40.37%.

Analyst Ratings Changes

AVY has been the subject of a number of analyst reports. JPMorgan Chase & Co. raised Avery Dennison from a “neutral” rating to an “overweight” rating and cut their target price for the stock from $210.00 to $205.00 in a research note on Friday, January 31st. Bank of America reduced their target price on Avery Dennison from $238.00 to $220.00 and set a “buy” rating for the company in a report on Monday, January 6th. Truist Financial reaffirmed a “buy” rating and set a $215.00 price target (down from $245.00) on shares of Avery Dennison in a research note on Friday, January 31st. Barclays lowered their target price on shares of Avery Dennison from $245.00 to $225.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Finally, BMO Capital Markets dropped their target price on shares of Avery Dennison from $252.00 to $247.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $227.15.

Insider Buying and Selling at Avery Dennison

In other news, SVP Nicholas Colisto sold 3,679 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $206.00, for a total value of $757,874.00. Following the completion of the transaction, the senior vice president now owns 7,126 shares of the company’s stock, valued at $1,467,956. The trade was a 34.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.10% of the stock is owned by insiders.

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.