Avior Wealth Management LLC Purchases 140 Shares of Avery Dennison Co. (NYSE:AVY)

Avior Wealth Management LLC grew its position in shares of Avery Dennison Co. (NYSE:AVY) by 4.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,111 shares of the industrial products company’s stock after buying an additional 140 shares during the quarter. Avior Wealth Management LLC’s holdings in Avery Dennison were worth $629,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Cookson Peirce & Co. Inc. boosted its position in Avery Dennison by 11.4% in the fourth quarter. Cookson Peirce & Co. Inc. now owns 2,520 shares of the industrial products company’s stock worth $509,000 after purchasing an additional 258 shares during the last quarter. SVB Wealth LLC purchased a new position in shares of Avery Dennison in the 4th quarter worth about $230,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new position in Avery Dennison during the fourth quarter valued at about $221,000. Carnegie Capital Asset Management LLC increased its holdings in Avery Dennison by 18.3% during the fourth quarter. Carnegie Capital Asset Management LLC now owns 1,715 shares of the industrial products company’s stock worth $347,000 after buying an additional 265 shares during the last quarter. Finally, Vontobel Holding Ltd. increased its holdings in Avery Dennison by 5.8% during the fourth quarter. Vontobel Holding Ltd. now owns 4,704 shares of the industrial products company’s stock worth $951,000 after buying an additional 258 shares during the last quarter. Hedge funds and other institutional investors own 94.17% of the company’s stock.

Avery Dennison Price Performance

Shares of Avery Dennison stock opened at $208.92 on Thursday. The business’s 50-day moving average price is $214.71 and its 200-day moving average price is $198.99. The firm has a market capitalization of $16.82 billion, a PE ratio of 33.64, a price-to-earnings-growth ratio of 3.25 and a beta of 0.90. Avery Dennison Co. has a 12 month low of $158.93 and a 12 month high of $225.26. The company has a current ratio of 1.04, a quick ratio of 0.69 and a debt-to-equity ratio of 1.23.

Avery Dennison (NYSE:AVY) last posted its quarterly earnings results on Wednesday, January 31st. The industrial products company reported $2.16 EPS for the quarter, hitting the consensus estimate of $2.16. The firm had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.10 billion. Avery Dennison had a net margin of 6.01% and a return on equity of 30.97%. The business’s revenue was up 4.2% compared to the same quarter last year. During the same period last year, the firm posted $1.65 earnings per share. Sell-side analysts forecast that Avery Dennison Co. will post 9.28 EPS for the current fiscal year.

Avery Dennison Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, March 6th were given a dividend of $0.81 per share. The ex-dividend date was Tuesday, March 5th. This represents a $3.24 annualized dividend and a yield of 1.55%. Avery Dennison’s payout ratio is 52.17%.

Wall Street Analyst Weigh In

AVY has been the subject of several research analyst reports. Bank of America lowered shares of Avery Dennison from a “buy” rating to an “underperform” rating and set a $208.00 price target for the company. in a research note on Tuesday, January 2nd. StockNews.com downgraded Avery Dennison from a “buy” rating to a “hold” rating in a research note on Wednesday, March 27th. UBS Group boosted their price objective on Avery Dennison from $225.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, January 11th. Truist Financial reiterated a “buy” rating and issued a $249.00 target price on shares of Avery Dennison in a research note on Friday, January 19th. Finally, Raymond James raised their price objective on shares of Avery Dennison from $199.00 to $225.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Avery Dennison currently has an average rating of “Moderate Buy” and an average target price of $221.00.

Insider Activity

In other news, Chairman Mitchell R. Butier sold 8,168 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $217.36, for a total value of $1,775,396.48. Following the completion of the sale, the chairman now owns 321,487 shares of the company’s stock, valued at approximately $69,878,414.32. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Chairman Mitchell R. Butier sold 8,168 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $217.36, for a total value of $1,775,396.48. Following the transaction, the chairman now owns 321,487 shares in the company, valued at $69,878,414.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ryan D. Yost sold 1,400 shares of the company’s stock in a transaction 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 owns 2,843 shares of the company’s stock, valued at $606,383.47. The disclosure for this sale can be found here. Over the last three months, 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.