GAMMA Investing LLC Makes New Investment in Avery Dennison Co. (NYSE:AVY)

GAMMA Investing LLC purchased a new stake in Avery Dennison Co. (NYSE:AVY) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,087 shares of the industrial products company’s stock, valued at approximately $217,000.

A number of other hedge funds have also made changes to their positions in the company. Cerity Partners LLC boosted its stake in shares of Avery Dennison by 4,159.9% during the fourth quarter. Cerity Partners LLC now owns 1,191,228 shares of the industrial products company’s stock valued at $240,819,000 after acquiring an additional 1,163,264 shares during the last quarter. Morgan Stanley lifted its stake in shares of Avery Dennison by 55.7% in the 3rd quarter. Morgan Stanley now owns 1,788,321 shares of the industrial products company’s stock valued at $326,673,000 after purchasing an additional 639,521 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Avery Dennison by 22.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,670,469 shares of the industrial products company’s stock valued at $487,857,000 after buying an additional 493,857 shares during the period. Boston Partners raised its holdings in shares of Avery Dennison by 43.9% during the 3rd quarter. Boston Partners now owns 1,007,542 shares of the industrial products company’s stock valued at $184,026,000 after buying an additional 307,325 shares during the period. Finally, FMR LLC increased its holdings in Avery Dennison by 27.5% during the 3rd quarter. FMR LLC now owns 958,790 shares of the industrial products company’s stock worth $175,142,000 after purchasing an additional 206,784 shares during the last quarter. Hedge funds and other institutional investors own 94.17% of the company’s stock.

Avery Dennison Trading Up 2.2 %

AVY opened at $217.09 on Friday. The company has a quick ratio of 0.69, a current ratio of 0.87 and a debt-to-equity ratio of 0.94. The stock has a market cap of $17.48 billion, a PE ratio of 31.69, a price-to-earnings-growth ratio of 3.28 and a beta of 0.90. The company has a fifty day moving average of $215.51 and a 200-day moving average of $200.13. Avery Dennison Co. has a twelve month low of $158.93 and a twelve month high of $225.26.

Avery Dennison (NYSE:AVY) last released its quarterly 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 company had revenue of $2.11 billion for the quarter, compared to analyst estimates 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 was up 4.2% on a year-over-year basis. During the same period last year, the firm earned $1.65 earnings per share. On average, sell-side analysts predict that Avery Dennison Co. will post 9.26 EPS for the current year.

Avery Dennison Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, March 6th were paid a $0.81 dividend. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $3.24 dividend on an annualized basis and a yield of 1.49%. Avery Dennison’s dividend payout ratio is presently 47.30%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on AVY shares. Bank of America downgraded Avery Dennison from a “buy” rating to an “underperform” rating and set a $208.00 price target for the company. in a report on Tuesday, January 2nd. Truist Financial reissued a “buy” rating and issued a $249.00 price objective on shares of Avery Dennison in a research note on Friday, January 19th. StockNews.com raised Avery Dennison from a “hold” rating to a “buy” rating in a research report on Monday. Robert W. Baird upped their price target on Avery Dennison from $215.00 to $230.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, UBS Group boosted their target price on Avery Dennison from $225.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, January 11th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $223.60.

Insider Transactions at Avery Dennison

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

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.