Avery Dennison Co. (NYSE:AVY) Stake Decreased by Shufro Rose & Co. LLC

Shufro Rose & Co. LLC lessened its holdings in shares of Avery Dennison Co. (NYSE:AVY) by 0.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 142,474 shares of the industrial products company’s stock after selling 448 shares during the period. Avery Dennison accounts for about 2.6% of Shufro Rose & Co. LLC’s investment portfolio, making the stock its 13th biggest holding. Shufro Rose & Co. LLC owned 0.18% of Avery Dennison worth $28,803,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. AEGON ASSET MANAGEMENT UK Plc acquired a new stake in shares of Avery Dennison in the 4th quarter valued at $2,715,000. Mutual of America Capital Management LLC lifted its stake in shares of Avery Dennison by 133.4% in the 4th quarter. Mutual of America Capital Management LLC now owns 26,318 shares of the industrial products company’s stock valued at $5,320,000 after purchasing an additional 15,040 shares during the last quarter. Cerity Partners LLC lifted its stake in shares of Avery Dennison by 4,159.9% in the 4th quarter. Cerity Partners LLC now owns 1,191,228 shares of the industrial products company’s stock valued at $240,819,000 after purchasing an additional 1,163,264 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Avery Dennison by 192.2% in the 4th quarter. Assenagon Asset Management S.A. now owns 10,713 shares of the industrial products company’s stock valued at $2,166,000 after purchasing an additional 7,047 shares during the last quarter. Finally, Janney Montgomery Scott LLC lifted its stake in shares of Avery Dennison by 736.1% in the 3rd quarter. Janney Montgomery Scott LLC now owns 142,766 shares of the industrial products company’s stock valued at $26,080,000 after purchasing an additional 125,691 shares during the last quarter. Institutional investors own 94.17% of the company’s stock.

Avery Dennison Price Performance

NYSE AVY traded up $1.87 on Friday, reaching $219.03. The company’s stock had a trading volume of 556,567 shares, compared to its average volume of 416,428. The firm has a market cap of $17.64 billion, a PE ratio of 31.98, a price-to-earnings-growth ratio of 3.38 and a beta of 0.90. The business has a 50-day moving average price of $215.71 and a 200 day moving average price of $200.48. Avery Dennison Co. has a 52 week low of $158.93 and a 52 week high of $225.26. The company has a current ratio of 0.87, a quick ratio of 0.69 and a debt-to-equity ratio of 0.94.

Avery Dennison (NYSE:AVY) last posted its earnings results on Wednesday, January 31st. The industrial products company reported $2.16 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.16. The business had revenue of $2.11 billion for the quarter, compared to analysts’ expectations of $2.10 billion. Avery Dennison had a net margin of 6.56% and a return on equity of 32.59%. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.65 earnings per share. Sell-side analysts expect that Avery Dennison Co. will post 9.26 EPS for the current year.

Avery Dennison Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Wednesday, June 5th will be paid a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.61%. This is a boost from Avery Dennison’s previous quarterly dividend of $0.81. The ex-dividend date of this dividend is Wednesday, June 5th. Avery Dennison’s dividend payout ratio is currently 47.30%.

Analyst Ratings Changes

A number of research firms have weighed in on AVY. Truist Financial boosted their target price on shares of Avery Dennison from $248.00 to $253.00 and gave the stock a “buy” rating in a research report on Friday. Citigroup boosted their target price on shares of Avery Dennison from $223.00 to $234.00 and gave the stock a “neutral” rating in a research report on Thursday, April 4th. UBS Group boosted their target price on shares of Avery Dennison from $225.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday, January 11th. Robert W. Baird boosted their target price on shares of Avery Dennison from $215.00 to $230.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Raymond James reissued an “outperform” rating and set a $240.00 target price (up previously from $225.00) on shares of Avery Dennison in a research report on Thursday. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Avery Dennison presently has a consensus rating of “Moderate Buy” and an average price target of $224.00.

Insiders Place Their Bets

In other news, insider Ryan D. Yost sold 1,400 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $213.29, for a total transaction of $298,606.00. Following the sale, the insider now directly owns 2,843 shares of the company’s stock, valued at $606,383.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Ryan D. Yost sold 1,400 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $213.29, for a total value of $298,606.00. Following the transaction, the insider now directly owns 2,843 shares in the company, valued at $606,383.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Mitchell R. Butier sold 8,168 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $217.36, for a total transaction of $1,775,396.48. Following the completion of the transaction, the chairman now owns 321,487 shares in the company, valued at $69,878,414.32. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 19,879 shares of company stock valued at $4,217,705. 1.10% of the stock is currently owned by insiders.

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.