FIL Ltd Has $4.68 Million Holdings in Avery Dennison Co. (NYSE:AVY)

FIL Ltd decreased its stake in Avery Dennison Co. (NYSE:AVY) by 31.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,025 shares of the industrial products company’s stock after selling 11,416 shares during the quarter. FIL Ltd’s holdings in Avery Dennison were worth $4,683,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of AVY. Regents Gate Capital LLP bought a new stake in Avery Dennison during the fourth quarter worth about $37,000. Spire Wealth Management grew its position in Avery Dennison by 76.0% during the 4th quarter. Spire Wealth Management now owns 301 shares of the industrial products company’s stock worth $56,000 after acquiring an additional 130 shares during the last quarter. AdvisorNet Financial Inc raised its position in Avery Dennison by 18.8% in the 4th quarter. AdvisorNet Financial Inc now owns 367 shares of the industrial products company’s stock valued at $69,000 after purchasing an additional 58 shares during the last quarter. VisionPoint Advisory Group LLC bought a new position in Avery Dennison in the 4th quarter valued at $68,000. Finally, Assetmark Inc. boosted its stake in Avery Dennison by 22.5% in the fourth quarter. Assetmark Inc. now owns 397 shares of the industrial products company’s stock worth $74,000 after purchasing an additional 73 shares in the last quarter. 94.17% of the stock is currently owned by institutional investors.

Avery Dennison Trading Up 1.7 %

Avery Dennison stock opened at $169.39 on Friday. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.08 and a quick ratio of 0.73. The firm has a 50-day moving average of $178.64 and a 200-day moving average of $192.82. The company has a market cap of $13.38 billion, a price-to-earnings ratio of 19.43, a P/E/G ratio of 2.07 and a beta of 0.85. Avery Dennison Co. has a one year low of $157.00 and a one year high of $233.48.

Avery Dennison (NYSE:AVY) last issued its earnings results on Thursday, January 30th. The industrial products company reported $2.38 earnings per share for the quarter, missing analysts’ consensus estimates of $2.39 by ($0.01). Avery Dennison had a return on equity of 33.06% and a net margin of 8.05%. On average, equities analysts expect that Avery Dennison Co. will post 9.96 earnings per share for the current fiscal year.

Avery Dennison Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were given a dividend of $0.88 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $3.52 dividend on an annualized basis and a yield of 2.08%. Avery Dennison’s dividend payout ratio (DPR) is 40.37%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Bank of America cut their price target on Avery Dennison from $238.00 to $220.00 and set a “buy” rating for the company in a report on Monday, January 6th. Citigroup dropped their target price on shares of Avery Dennison from $228.00 to $202.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. Barclays decreased their price target on shares of Avery Dennison from $245.00 to $225.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Truist Financial reiterated a “buy” rating and issued a $215.00 price objective (down from $245.00) on shares of Avery Dennison in a research report on Friday, January 31st. Finally, UBS Group dropped their target price on shares of Avery Dennison from $207.00 to $189.00 and set a “neutral” rating for the company in a research report on Monday, April 7th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $220.87.

Insider Buying and Selling

In other news, Chairman Mitchell R. Butier sold 8,068 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $186.19, for a total transaction of $1,502,180.92. Following the transaction, the chairman now owns 316,300 shares in the company, valued at approximately $58,891,897. This trade represents a 2.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.84% of the stock is currently owned by insiders.

About Avery Dennison

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.