Allspring Global Investments Holdings LLC Sells 254 Shares of Avery Dennison Co. (NYSE:AVY)

Allspring Global Investments Holdings LLC reduced its holdings in shares of Avery Dennison Co. (NYSE:AVY) by 5.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 4,086 shares of the industrial products company’s stock after selling 254 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Avery Dennison were worth $826,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Centurion Wealth Management LLC lifted its stake in shares of Avery Dennison by 14.0% during the 4th quarter. Centurion Wealth Management LLC now owns 1,511 shares of the industrial products company’s stock worth $305,000 after acquiring an additional 186 shares during the last quarter. Sabal Trust CO purchased a new position in Avery Dennison during the 4th quarter worth $202,000. Vaughan Nelson Investment Management L.P. increased its holdings in Avery Dennison by 71.6% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 162,655 shares of the industrial products company’s stock worth $32,882,000 after purchasing an additional 67,887 shares during the period. 180 Wealth Advisors LLC purchased a new position in Avery Dennison during the 4th quarter worth $1,624,000. Finally, DekaBank Deutsche Girozentrale increased its holdings in Avery Dennison by 0.8% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 510,310 shares of the industrial products company’s stock worth $103,165,000 after purchasing an additional 4,278 shares during the period. 94.17% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on AVY shares. JPMorgan Chase & Co. raised their price objective on Avery Dennison from $185.00 to $218.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st. StockNews.com upgraded Avery Dennison from a “hold” rating to a “buy” rating in a report on Monday. UBS Group lifted their price target on Avery Dennison from $225.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, January 11th. Raymond James lifted their price target on Avery Dennison from $199.00 to $225.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Finally, Citigroup lifted their price target on Avery Dennison from $223.00 to $234.00 and gave the company a “neutral” rating in a report on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $221.00.

Avery Dennison Stock Up 0.5 %

Shares of AVY stock opened at $212.42 on Thursday. Avery Dennison Co. has a 1-year low of $158.93 and a 1-year high of $225.26. The stock’s fifty day moving average price is $215.34 and its 200 day moving average price is $200.01. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.04 and a quick ratio of 0.69. The company has a market cap of $17.10 billion, a price-to-earnings ratio of 34.21, a price-to-earnings-growth ratio of 3.27 and a beta of 0.90.

Avery Dennison (NYSE:AVY) last announced its earnings results on Wednesday, January 31st. The industrial products company reported $2.16 earnings per share for the quarter, hitting the consensus estimate of $2.16. Avery Dennison had a return on equity of 30.97% and a net margin of 6.01%. The firm had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.10 billion. During the same period in the previous year, the business earned $1.65 EPS. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. On average, research analysts expect that Avery Dennison Co. will post 9.26 earnings per share for the current fiscal year.

Avery Dennison Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, March 6th were paid a dividend of $0.81 per share. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $3.24 annualized dividend and a yield of 1.53%. Avery Dennison’s dividend payout ratio (DPR) is 52.17%.

Insiders Place Their Bets

In other Avery Dennison news, SVP Ignacio J. Walker sold 5,000 shares of Avery Dennison stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $213.90, for a total transaction of $1,069,500.00. Following the completion of the sale, the senior vice president now owns 6,102 shares of the company’s stock, valued at approximately $1,305,217.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Avery Dennison news, SVP Ignacio J. Walker sold 5,000 shares of Avery Dennison stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $213.90, for a total transaction of $1,069,500.00. Following the completion of the sale, the senior vice president now owns 6,102 shares of the company’s stock, valued at approximately $1,305,217.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Mitchell R. Butier sold 8,168 shares of Avery Dennison 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 sale, the chairman now directly owns 321,487 shares of the company’s stock, valued at approximately $69,878,414.32. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,879 shares of company stock valued at $4,217,705. 1.10% of the stock is 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.