5,946 Shares in Avery Dennison Co. (NYSE:AVY) Bought by Manning & Napier Advisors LLC

Manning & Napier Advisors LLC purchased a new position in Avery Dennison Co. (NYSE:AVY) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 5,946 shares of the industrial products company’s stock, valued at approximately $1,113,000.

A number of other hedge funds also recently modified their holdings of the stock. Robeco Institutional Asset Management B.V. increased its position in shares of Avery Dennison by 2.8% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 99,609 shares of the industrial products company’s stock worth $18,640,000 after purchasing an additional 2,720 shares during the period. R Squared Ltd bought a new position in shares of Avery Dennison in the fourth quarter worth $157,000. Twelve Points Wealth Management LLC increased its position in shares of Avery Dennison by 21.3% in the fourth quarter. Twelve Points Wealth Management LLC now owns 4,749 shares of the industrial products company’s stock worth $889,000 after purchasing an additional 833 shares during the period. KBC Group NV increased its position in shares of Avery Dennison by 18.5% in the fourth quarter. KBC Group NV now owns 18,228 shares of the industrial products company’s stock worth $3,411,000 after purchasing an additional 2,844 shares during the period. Finally, Blue Trust Inc. grew its position in Avery Dennison by 7.1% in the fourth quarter. Blue Trust Inc. now owns 2,752 shares of the industrial products company’s stock valued at $515,000 after acquiring an additional 182 shares during the last quarter. Institutional investors own 94.17% of the company’s stock.

Insider Buying and Selling

In other Avery Dennison news, SVP Nicholas Colisto sold 3,679 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $206.00, for a total value of $757,874.00. Following the transaction, the senior vice president now directly owns 7,126 shares of the company’s stock, valued at approximately $1,467,956. The trade was a 34.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.10% of the stock is owned by insiders.

Avery Dennison Price Performance

Avery Dennison stock opened at $182.67 on Friday. The stock’s 50 day moving average is $193.87 and its 200 day moving average is $206.51. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.92 and a quick ratio of 0.62. The firm has a market cap of $14.68 billion, a P/E ratio of 21.93, a P/E/G ratio of 1.36 and a beta of 0.89. Avery Dennison Co. has a one year low of $179.20 and a one year high of $233.48.

Avery Dennison (NYSE:AVY) last posted its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.38 EPS for the quarter, missing analysts’ consensus estimates of $2.39 by ($0.01). Avery Dennison had a return on equity of 33.01% and a net margin of 7.76%. As a group, research analysts expect that Avery Dennison Co. will post 9.41 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on AVY. Barclays decreased their target price on Avery Dennison from $250.00 to $245.00 and set an “overweight” rating on the stock in a research report on Monday, October 28th. Truist Financial decreased their target price on Avery Dennison from $258.00 to $245.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Citigroup decreased their target price on Avery Dennison from $228.00 to $202.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. StockNews.com cut Avery Dennison from a “buy” rating to a “hold” rating in a research report on Thursday, October 24th. Finally, JPMorgan Chase & Co. cut Avery Dennison from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $230.00 to $210.00 in a research report on Thursday, October 24th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, Avery Dennison currently has a consensus rating of “Moderate Buy” and an average target price of $235.05.

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.