Intrust Bank NA Grows Holdings in Avery Dennison Co. (NYSE:AVY)

Intrust Bank NA raised its stake in Avery Dennison Co. (NYSE:AVY) by 15.6% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 2,572 shares of the industrial products company’s stock after purchasing an additional 348 shares during the quarter. Intrust Bank NA’s holdings in Avery Dennison were worth $520,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in AVY. Alliance Wealth Advisors LLC UT boosted its stake in shares of Avery Dennison by 1.5% in the 4th quarter. Alliance Wealth Advisors LLC UT now owns 3,840 shares of the industrial products company’s stock valued at $776,000 after purchasing an additional 56 shares in the last quarter. New York Life Investment Management LLC grew its stake in shares of Avery Dennison by 0.5% during the third quarter. New York Life Investment Management LLC now owns 11,454 shares of the industrial products company’s stock valued at $2,092,000 after buying an additional 58 shares during the last quarter. Signaturefd LLC increased its holdings in shares of Avery Dennison by 25.5% in the third quarter. Signaturefd LLC now owns 300 shares of the industrial products company’s stock worth $55,000 after buying an additional 61 shares during the period. Advisor Partners II LLC lifted its stake in shares of Avery Dennison by 1.9% in the 3rd quarter. Advisor Partners II LLC now owns 3,342 shares of the industrial products company’s stock valued at $610,000 after acquiring an additional 63 shares during the last quarter. Finally, Lindbrook Capital LLC boosted its holdings in Avery Dennison by 11.5% during the 4th quarter. Lindbrook Capital LLC now owns 630 shares of the industrial products company’s stock valued at $127,000 after acquiring an additional 65 shares during the period. 94.17% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Julia A. Stewart sold 5,311 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $202.26, for a total value of $1,074,202.86. Following the completion of the transaction, the director now directly owns 5,018 shares in the company, valued at approximately $1,014,940.68. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Julia A. Stewart sold 5,311 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $202.26, for a total transaction of $1,074,202.86. Following the completion of the transaction, the director now owns 5,018 shares of the company’s stock, valued at approximately $1,014,940.68. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Ryan D. Yost sold 1,400 shares of the business’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $213.29, for a total value of $298,606.00. Following the completion of the sale, the insider now directly owns 2,843 shares in the company, valued at $606,383.47. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,879 shares of company stock worth $4,217,705. Corporate insiders own 1.10% of the company’s stock.

Avery Dennison Price Performance

Shares of NYSE AVY opened at $217.28 on Wednesday. Avery Dennison Co. has a 1 year low of $158.93 and a 1 year high of $225.26. The stock has a market capitalization of $17.50 billion, a P/E ratio of 31.72, a P/E/G ratio of 3.38 and a beta of 0.90. The company’s 50-day moving average is $216.05 and its 200 day moving average is $201.07. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.87 and a quick ratio of 0.58.

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, hitting analysts’ consensus estimates 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 return on equity of 32.59% and a net margin of 6.56%. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.65 EPS. On average, sell-side analysts expect that Avery Dennison Co. will post 9.26 earnings per share 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 issued a $0.88 dividend. This is an increase from Avery Dennison’s previous quarterly dividend of $0.81. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $3.52 dividend on an annualized basis and a yield of 1.62%. Avery Dennison’s dividend payout ratio is 47.30%.

Analysts Set New Price Targets

AVY has been the topic of a number of analyst reports. Robert W. Baird lifted their price target on Avery Dennison from $215.00 to $230.00 and gave the stock an “outperform” rating in a research note on Thursday, April 25th. UBS Group upped their price target on shares of Avery Dennison from $225.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, January 11th. JPMorgan Chase & Co. raised their price target on shares of Avery Dennison from $218.00 to $220.00 and gave the stock an “overweight” rating in a report on Thursday, April 25th. StockNews.com raised shares of Avery Dennison from a “hold” rating to a “buy” rating in a research note on Monday, April 22nd. Finally, Bank of America lowered shares of Avery Dennison from a “buy” rating to an “underperform” rating and set a $208.00 target price for the company. in a report on Tuesday, January 2nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $224.00.

Avery Dennison Company 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.