Avery Dennison Co. (NYSE:AVY) Stock Position Cut by Dorsey & Whitney Trust CO LLC

Dorsey & Whitney Trust CO LLC lessened its stake in Avery Dennison Co. (NYSE:AVY) by 14.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,869 shares of the industrial products company’s stock after selling 487 shares during the period. Dorsey & Whitney Trust CO LLC’s holdings in Avery Dennison were worth $537,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Andra AP fonden grew its stake in shares of Avery Dennison by 41.0% in the 4th quarter. Andra AP fonden now owns 79,400 shares of the industrial products company’s stock worth $14,858,000 after purchasing an additional 23,100 shares during the last quarter. Edgestream Partners L.P. grew its stake in shares of Avery Dennison by 153.0% in the 4th quarter. Edgestream Partners L.P. now owns 21,310 shares of the industrial products company’s stock worth $3,988,000 after purchasing an additional 12,886 shares during the last quarter. Callan Family Office LLC acquired a new position in Avery Dennison in the fourth quarter worth approximately $383,000. Raymond James Financial Inc. acquired a new stake in shares of Avery Dennison during the 4th quarter valued at $51,521,000. Finally, Dana Investment Advisors Inc. lifted its position in shares of Avery Dennison by 8.2% during the 4th quarter. Dana Investment Advisors Inc. now owns 7,883 shares of the industrial products company’s stock valued at $1,475,000 after acquiring an additional 599 shares during the last quarter. Institutional investors own 94.17% of the company’s stock.

Avery Dennison Trading Up 1.6 %

NYSE AVY opened at $186.80 on Tuesday. Avery Dennison Co. has a 1-year low of $178.72 and a 1-year high of $233.48. 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 company has a market capitalization of $14.76 billion, a PE ratio of 21.42, a price-to-earnings-growth ratio of 2.07 and a beta of 0.85. The firm’s fifty day simple moving average is $186.11 and its 200-day simple moving average is $200.52.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.39 by ($0.01). Avery Dennison had a return on equity of 33.06% and a net margin of 8.05%. As a group, sell-side analysts anticipate that Avery Dennison Co. will post 9.96 earnings per share for the current fiscal year.

Avery Dennison Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date of this dividend is Wednesday, March 5th. Avery Dennison’s dividend payout ratio is presently 40.37%.

Insider Buying and Selling

In related news, Chairman Mitchell R. Butier sold 8,068 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $186.19, for a total value of $1,502,180.92. Following the completion of the sale, the chairman now directly owns 316,300 shares in the company, valued at approximately $58,891,897. This represents a 2.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 1.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on AVY. Truist Financial reiterated a “buy” rating and set a $215.00 price objective (down previously from $245.00) on shares of Avery Dennison in a research report on Friday, January 31st. Barclays cut their price objective on Avery Dennison from $245.00 to $225.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. JPMorgan Chase & Co. upgraded Avery Dennison from a “neutral” rating to an “overweight” rating and cut their price objective for the company from $210.00 to $205.00 in a research report on Friday, January 31st. Citigroup cut their price objective on Avery Dennison from $228.00 to $202.00 and set a “neutral” rating for the company in a research report on Monday, January 6th. Finally, Robert W. Baird set a $220.00 price objective on Avery Dennison in a research report on Friday, January 31st. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $222.51.

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.