Fifth Third Bancorp Purchases 254 Shares of Avery Dennison Co. (NYSE:AVY)

Fifth Third Bancorp lifted its stake in Avery Dennison Co. (NYSE:AVY) by 8.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 3,242 shares of the industrial products company’s stock after buying an additional 254 shares during the period. Fifth Third Bancorp’s holdings in Avery Dennison were worth $607,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Gradient Investments LLC lifted its holdings in shares of Avery Dennison by 0.7% in the 4th quarter. Gradient Investments LLC now owns 68,310 shares of the industrial products company’s stock worth $12,783,000 after acquiring an additional 501 shares during the last quarter. Exchange Traded Concepts LLC lifted its stake in Avery Dennison by 9.1% in the fourth quarter. Exchange Traded Concepts LLC now owns 4,114 shares of the industrial products company’s stock worth $770,000 after purchasing an additional 343 shares during the last quarter. Bill Few Associates Inc. boosted its position in shares of Avery Dennison by 0.9% during the fourth quarter. Bill Few Associates Inc. now owns 13,301 shares of the industrial products company’s stock valued at $2,489,000 after buying an additional 116 shares during the period. Mutual Advisors LLC grew its stake in shares of Avery Dennison by 74.9% during the fourth quarter. Mutual Advisors LLC now owns 2,498 shares of the industrial products company’s stock valued at $478,000 after buying an additional 1,070 shares during the last quarter. Finally, Sky Investment Group LLC raised its holdings in shares of Avery Dennison by 0.7% in the fourth quarter. Sky Investment Group LLC now owns 14,805 shares of the industrial products company’s stock worth $2,770,000 after buying an additional 110 shares during the period. Institutional investors own 94.17% of the company’s stock.

Insider Transactions at Avery Dennison

In related news, SVP Nicholas Colisto sold 3,679 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $206.00, for a total transaction of $757,874.00. Following the transaction, the senior vice president now directly owns 7,126 shares of the company’s stock, valued at $1,467,956. This represents a 34.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 1.10% of the company’s stock.

Avery Dennison Price Performance

Shares of AVY 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. Avery Dennison Co. has a 1-year low of $179.20 and a 1-year high of $233.48. 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 company has a market cap of $14.68 billion, a P/E ratio of 21.93, a PEG ratio of 1.36 and a beta of 0.89.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.38 earnings per share (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%. Research analysts predict that Avery Dennison Co. will post 9.41 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on AVY shares. Barclays cut their price objective 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. JPMorgan Chase & Co. downgraded shares of Avery Dennison from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $230.00 to $210.00 in a research note on Thursday, October 24th. Bank of America dropped their target price on shares of Avery Dennison from $238.00 to $220.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Truist Financial decreased their price target on shares of Avery Dennison from $258.00 to $245.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Finally, UBS Group dropped their price objective on Avery Dennison from $235.00 to $207.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $235.05.

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.