Avery Dennison Co. (NYSE:AVY) Shares Acquired by Connecticut Wealth Management LLC

Connecticut Wealth Management LLC boosted its stake in Avery Dennison Co. (NYSE:AVY) by 80.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,440 shares of the industrial products company’s stock after acquiring an additional 1,090 shares during the period. Connecticut Wealth Management LLC’s holdings in Avery Dennison were worth $493,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in AVY. Ameriprise Financial Inc. raised its stake in shares of Avery Dennison by 22.7% in 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 purchasing an additional 493,857 shares in the last quarter. Morgan Stanley increased its holdings in Avery Dennison by 55.7% in the third quarter. Morgan Stanley now owns 1,788,321 shares of the industrial products company’s stock valued at $326,673,000 after buying an additional 639,521 shares during the last quarter. Cerity Partners LLC raised its stake in 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 buying an additional 1,163,264 shares in the last quarter. Truist Financial Corp lifted its holdings in Avery Dennison by 5.5% during the 3rd quarter. Truist Financial Corp now owns 1,096,524 shares of the industrial products company’s stock worth $200,302,000 after buying an additional 57,106 shares during the last quarter. Finally, Boston Partners increased its holdings in shares of Avery Dennison by 43.9% in the 3rd quarter. Boston Partners now owns 1,007,542 shares of the industrial products company’s stock valued at $184,026,000 after acquiring an additional 307,325 shares during the last quarter. 94.17% of the stock is currently owned by institutional investors.

Avery Dennison Trading Down 0.0 %

NYSE AVY traded down $0.06 on Monday, hitting $221.49. 180,672 shares of the stock were exchanged, compared to its average volume of 442,449. The company’s 50-day moving average price is $216.39 and its two-hundred day moving average price is $201.86. The company has a market capitalization of $17.84 billion, a price-to-earnings ratio of 32.34, a P/E/G ratio of 3.41 and a beta of 0.91. Avery Dennison Co. has a 52-week low of $158.93 and a 52-week high of $225.26. 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 Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Wednesday, June 5th will be paid a $0.88 dividend. This is an increase from Avery Dennison’s previous quarterly dividend of $0.81. This represents a $3.52 annualized dividend and a yield of 1.59%. The ex-dividend date is Tuesday, June 4th. Avery Dennison’s dividend payout ratio is currently 47.30%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on AVY shares. Citigroup lifted their price objective on shares of Avery Dennison from $223.00 to $234.00 and gave the stock a “neutral” rating in a report on Thursday, April 4th. Robert W. Baird upped their target price on Avery Dennison from $215.00 to $230.00 and gave the company an “outperform” rating in a report on Thursday, April 25th. UBS Group raised their price target on Avery Dennison from $225.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, January 11th. Truist Financial lifted their price objective on shares of Avery Dennison from $248.00 to $253.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Finally, StockNews.com upgraded shares of Avery Dennison from a “hold” rating to a “buy” rating in a report on Monday, April 22nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $224.00.

Insiders Place Their Bets

In related news, insider Ryan D. Yost sold 1,400 shares of the business’s 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 transaction, the insider now directly owns 2,843 shares of the company’s stock, valued at $606,383.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Avery Dennison news, insider Ryan D. Yost sold 1,400 shares of Avery Dennison 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 completion of the sale, the insider now owns 2,843 shares of the company’s stock, valued at approximately $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 company’s stock in a transaction 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 completion of the transaction, the chairman now directly owns 321,487 shares in the company, valued at $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 company 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.