Avery Dennison Co. (NYSE:AVY) Stock Holdings Trimmed by Diversified Trust Co

Diversified Trust Co reduced its position in Avery Dennison Co. (NYSE:AVY) by 0.7% in the 1st quarter, Holdings Channel reports. The institutional investor owned 12,899 shares of the industrial products company’s stock after selling 86 shares during the period. Diversified Trust Co’s holdings in Avery Dennison were worth $2,880,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. VisionPoint Advisory Group LLC acquired a new position in Avery Dennison in the fourth quarter valued at approximately $42,000. Anchor Investment Management LLC acquired a new position in Avery Dennison in the fourth quarter valued at approximately $42,000. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in Avery Dennison by 164.4% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 267 shares of the industrial products company’s stock valued at $54,000 after acquiring an additional 166 shares during the period. Parkside Financial Bank & Trust boosted its stake in Avery Dennison by 250.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 403 shares of the industrial products company’s stock valued at $81,000 after acquiring an additional 288 shares during the period. Finally, Salem Investment Counselors Inc. boosted its stake in Avery Dennison by 47.2% in the fourth quarter. Salem Investment Counselors Inc. now owns 415 shares of the industrial products company’s stock valued at $84,000 after acquiring an additional 133 shares during the period. 94.17% of the stock is currently owned by institutional investors and hedge funds.

Avery Dennison Price Performance

Shares of NYSE:AVY opened at $213.38 on Tuesday. Avery Dennison Co. has a 12 month low of $165.21 and a 12 month high of $231.53. The stock has a market cap of $17.19 billion, a price-to-earnings ratio of 31.15, a PEG ratio of 2.01 and a beta of 0.88. The stock’s 50 day moving average price is $224.17 and its 200 day moving average price is $213.73. 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 quarterly earnings results on Wednesday, April 24th. The industrial products company reported $2.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.14. The company had revenue of $2.15 billion for the quarter, compared to analysts’ expectations of $2.15 billion. Avery Dennison had a return on equity of 32.59% and a net margin of 6.56%. Equities research analysts anticipate that Avery Dennison Co. will post 9.32 earnings per share for the current fiscal year.

Avery Dennison Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Wednesday, June 5th were issued a $0.88 dividend. The ex-dividend date was Wednesday, June 5th. This represents a $3.52 annualized dividend and a dividend yield of 1.65%. This is a boost from Avery Dennison’s previous quarterly dividend of $0.81. Avery Dennison’s dividend payout ratio is currently 51.39%.

Insider Buying and Selling at Avery Dennison

In other Avery Dennison news, SVP Ignacio J. Walker sold 2,206 shares of the company’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $226.70, for a total value of $500,100.20. Following the transaction, the senior vice president now owns 7,082 shares of the company’s stock, valued at $1,605,489.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Avery Dennison news, SVP Deena Baker-Nel sold 3,000 shares of the business’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $228.17, for a total transaction of $684,510.00. Following the sale, the senior vice president now directly owns 1,577 shares of the company’s stock, valued at approximately $359,824.09. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Ignacio J. Walker sold 2,206 shares of the business’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $226.70, for a total transaction of $500,100.20. Following the sale, the senior vice president now directly owns 7,082 shares in the company, valued at $1,605,489.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 12,583 shares of company stock valued at $2,856,353. Corporate insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Truist Financial boosted their price objective on Avery Dennison from $248.00 to $253.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Raymond James reiterated an “outperform” rating and set a $240.00 price objective (up from $225.00) on shares of Avery Dennison in a research report on Thursday, April 25th. Robert W. Baird boosted their price objective on Avery Dennison from $230.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, June 7th. StockNews.com upgraded Avery Dennison from a “hold” rating to a “buy” rating in a research report on Monday, April 22nd. Finally, Argus boosted their price objective on Avery Dennison from $240.00 to $245.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. One 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. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $230.50.

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.