Sequoia Financial Advisors LLC Raises Stake in Avery Dennison Co. (NYSE:AVY)

Sequoia Financial Advisors LLC raised its position in shares of Avery Dennison Co. (NYSE:AVY) by 12.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 5,350 shares of the industrial products company’s stock after purchasing an additional 608 shares during the period. Sequoia Financial Advisors LLC’s holdings in Avery Dennison were worth $1,082,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Clear Street Markets LLC lifted its holdings in shares of Avery Dennison by 92.7% in the first quarter. Clear Street Markets LLC now owns 158 shares of the industrial products company’s stock worth $28,000 after buying an additional 76 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of Avery Dennison in the third quarter worth $32,000. Milestone Investment Advisors LLC purchased a new position in shares of Avery Dennison in the third quarter worth $36,000. IFP Advisors Inc lifted its holdings in shares of Avery Dennison by 56.3% in the second quarter. IFP Advisors Inc now owns 200 shares of the industrial products company’s stock worth $34,000 after buying an additional 72 shares in the last quarter. Finally, Eagle Bay Advisors LLC purchased a new position in shares of Avery Dennison in the second quarter worth $33,000. Hedge funds and other institutional investors own 94.17% of the company’s stock.

Insider Transactions at Avery Dennison

In other news, insider Ryan D. Yost sold 1,400 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $213.29, for a total value of $298,606.00. Following the transaction, the insider now directly owns 2,843 shares in the company, valued at $606,383.47. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Chairman Mitchell R. Butier sold 8,168 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $217.36, for a total value of $1,775,396.48. Following the transaction, the chairman now directly owns 321,487 shares in the company, valued at $69,878,414.32. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Ryan D. Yost sold 1,400 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $213.29, for a total transaction of $298,606.00. Following the completion of the sale, the insider now directly owns 2,843 shares of the company’s stock, valued at $606,383.47. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 19,879 shares of company stock worth $4,217,705. Insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on AVY. Truist Financial reissued a “buy” rating and issued a $249.00 target price on shares of Avery Dennison in a report on Friday, January 19th. StockNews.com downgraded shares of Avery Dennison from a “buy” rating to a “hold” rating in a research note on Wednesday, March 27th. JPMorgan Chase & Co. upped their price target on shares of Avery Dennison from $185.00 to $218.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st. Citigroup upped their price target on shares of Avery Dennison from $223.00 to $234.00 and gave the company a “neutral” rating in a research note on Thursday, April 4th. Finally, Bank of America downgraded shares of Avery Dennison from a “buy” rating to an “underperform” rating and set a $208.00 price target on the stock. in a research note on Tuesday, January 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Avery Dennison presently has an average rating of “Moderate Buy” and an average price target of $221.00.

Avery Dennison Trading Down 1.8 %

AVY stock opened at $211.23 on Monday. The company has a quick ratio of 0.69, a current ratio of 1.04 and a debt-to-equity ratio of 1.23. Avery Dennison Co. has a twelve month low of $158.93 and a twelve month high of $225.26. The stock has a market capitalization of $17.01 billion, a price-to-earnings ratio of 34.01, a price-to-earnings-growth ratio of 3.25 and a beta of 0.90. The firm’s fifty day simple moving average is $214.03 and its two-hundred day simple moving average is $198.53.

Avery Dennison (NYSE:AVY) last posted its quarterly earnings data on Wednesday, January 31st. The industrial products company reported $2.16 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.16. Avery Dennison had a net margin of 6.01% and a return on equity of 30.97%. The business had revenue of $2.11 billion for the quarter, compared to analysts’ expectations of $2.10 billion. During the same quarter in the previous year, the business posted $1.65 earnings per share. The business’s revenue was up 4.2% compared to the same quarter last year. As a group, analysts anticipate that Avery Dennison Co. will post 9.28 earnings per share for the current year.

Avery Dennison Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th were issued a $0.81 dividend. This represents a $3.24 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date of this dividend was Tuesday, March 5th. Avery Dennison’s payout ratio is presently 52.17%.

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.