LPL Financial LLC Raises Holdings in Avery Dennison Co. (NYSE:AVY)

LPL Financial LLC raised its holdings in shares of Avery Dennison Co. (NYSE:AVY – Get Rating) by 28.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 37,895 shares of the industrial products company’s stock after purchasing an additional 8,380 shares during the period. LPL Financial LLC’s holdings in Avery Dennison were worth $6,859,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in AVY. Massmutual Trust Co. FSB ADV boosted its stake in shares of Avery Dennison by 434.6% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 139 shares of the industrial products company’s stock worth $25,000 after buying an additional 113 shares during the last quarter. Eagle Bay Advisors LLC purchased a new position in shares of Avery Dennison in the 2nd quarter worth $33,000. Pinnacle Financial Partners Inc. purchased a new position in shares of Avery Dennison in the 3rd quarter worth $33,000. Spire Wealth Management boosted its stake in shares of Avery Dennison by 98.4% in the 4th quarter. Spire Wealth Management now owns 246 shares of the industrial products company’s stock worth $44,000 after buying an additional 122 shares during the last quarter. Finally, Old North State Trust LLC purchased a new position in shares of Avery Dennison in the 3rd quarter worth $48,000. 89.05% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Julia A. Stewart sold 930 shares of the business’s stock in a transaction dated Tuesday, May 2nd. The stock was sold at an average price of $172.99, for a total value of $160,880.70. Following the sale, the director now directly owns 15,962 shares in the company, valued at $2,761,266.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Andres Alberto Lopez sold 5,800 shares of the business’s stock in a transaction dated Friday, March 3rd. The stock was sold at an average price of $182.00, for a total value of $1,055,600.00. Following the sale, the director now directly owns 1,315 shares in the company, valued at $239,330. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Julia A. Stewart sold 930 shares of the business’s stock in a transaction dated Tuesday, May 2nd. The stock was sold at an average price of $172.99, for a total value of $160,880.70. Following the completion of the sale, the director now owns 15,962 shares in the company, valued at $2,761,266.38. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,388 shares of company stock worth $2,059,829. Corporate insiders own 1.10% of the company’s stock.

Avery Dennison Price Performance

Shares of Avery Dennison stock opened at $173.15 on Friday. The stock’s 50-day simple moving average is $174.13 and its 200-day simple moving average is $180.30. Avery Dennison Co. has a 52 week low of $151.62 and a 52 week high of $204.37. The company has a market capitalization of $13.98 billion, a price-to-earnings ratio of 20.84, a PEG ratio of 2.73 and a beta of 0.95. The company has a quick ratio of 0.73, a current ratio of 1.13 and a debt-to-equity ratio of 1.42.

Avery Dennison (NYSE:AVY – Get Rating) last announced its quarterly earnings data on Wednesday, April 26th. The industrial products company reported $1.70 EPS for the quarter, beating the consensus estimate of $1.66 by $0.04. Avery Dennison had a return on equity of 34.49% and a net margin of 7.77%. The business had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.18 billion. During the same period in the previous year, the business earned $2.40 earnings per share. The business’s revenue was down 12.1% on a year-over-year basis. As a group, analysts expect that Avery Dennison Co. will post 9 earnings per share for the current fiscal year.

Avery Dennison Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 21st. Investors of record on Wednesday, June 7th will be given a $0.81 dividend. This is an increase from Avery Dennison’s previous quarterly dividend of $0.75. This represents a $3.24 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date is Tuesday, June 6th. Avery Dennison’s payout ratio is currently 38.99%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on AVY shares. Truist Financial dropped their price target on Avery Dennison from $229.00 to $223.00 and set a “buy” rating on the stock in a research note on Friday, February 3rd. Raymond James raised their target price on Avery Dennison from $190.00 to $205.00 and gave the stock an “outperform” rating in a report on Wednesday, January 25th. StockNews.com started coverage on Avery Dennison in a report on Thursday, March 16th. They issued a “hold” rating on the stock. Finally, BMO Capital Markets decreased their target price on Avery Dennison from $240.00 to $233.00 and set an “outperform” rating on the stock in a report on Monday, February 6th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $212.29.

About Avery Dennison

(Get Rating)

Avery Dennison Corp. engages in the provision of labeling and packaging materials and solutions. It operates through the Materials and Solutions Group segments. The Materials Group segment manufactures and sells pressure-sensitive label materials, films for graphic and reflective products, performance tapes and other adhesive products for industrial, medical and other applications, as well as fastener solutions.