Norden Group LLC Sells 2,676 Shares of Avery Dennison Co. (NYSE:AVY)

Norden Group LLC cut its holdings in Avery Dennison Co. (NYSE:AVY) by 42.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,676 shares of the industrial products company’s stock after selling 2,676 shares during the quarter. Norden Group LLC’s holdings in Avery Dennison were worth $688,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the business. Larson Financial Group LLC boosted its position in Avery Dennison by 100.0% during the 3rd quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 71 shares in the last quarter. Kennebec Savings Bank bought a new stake in Avery Dennison during the 3rd quarter valued at approximately $36,000. Peterson Financial Group Inc. bought a new stake in Avery Dennison during the 3rd quarter valued at approximately $39,000. Regents Gate Capital LLP bought a new stake in Avery Dennison during the 4th quarter valued at approximately $37,000. Finally, Brooklyn Investment Group bought a new stake in Avery Dennison during the 3rd quarter valued at approximately $66,000. 94.17% of the stock is owned by institutional investors.

Avery Dennison Price Performance

Shares of AVY opened at $185.75 on Tuesday. The firm has a market cap of $14.67 billion, a PE ratio of 21.30, a P/E/G ratio of 2.07 and a beta of 0.89. The company has a current ratio of 1.08, a quick ratio of 0.73 and a debt-to-equity ratio of 1.10. The firm has a fifty day simple moving average of $186.63 and a two-hundred day simple moving average of $201.59. Avery Dennison Co. has a 1-year low of $178.72 and a 1-year high of $233.48.

Avery Dennison (NYSE:AVY) last announced its earnings results on Thursday, January 30th. The industrial products company reported $2.38 earnings per share 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%. On average, equities analysts anticipate that Avery Dennison Co. will post 9.96 EPS for the current year.

Avery Dennison Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be paid a dividend of $0.88 per share. The ex-dividend date is Wednesday, March 5th. This represents a $3.52 dividend on an annualized basis and a yield of 1.90%. Avery Dennison’s dividend payout ratio is presently 40.37%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. BMO Capital Markets set a $226.00 price objective on Avery Dennison in a research report on Monday, February 3rd. JPMorgan Chase & Co. upgraded shares of Avery Dennison from a “neutral” rating to an “overweight” rating and lowered their target price for the company from $210.00 to $205.00 in a report on Friday, January 31st. Bank of America lowered their target price on shares of Avery Dennison from $238.00 to $220.00 and set a “buy” rating for the company in a report on Monday, January 6th. Barclays lowered their target price on shares of Avery Dennison from $245.00 to $225.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Finally, Truist Financial reiterated a “buy” rating and set a $215.00 target price (down from $245.00) on shares of Avery Dennison in a report on Friday, January 31st. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $222.51.

About Avery Dennison

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.