Xponance Inc. Cuts Stock Position in Avery Dennison Co. (NYSE:AVY)

Xponance Inc. lessened its stake in Avery Dennison Co. (NYSE:AVY) by 7.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,342 shares of the industrial products company’s stock after selling 1,037 shares during the period. Xponance Inc.’s holdings in Avery Dennison were worth $2,697,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. AEGON ASSET MANAGEMENT UK Plc purchased a new position in Avery Dennison in the fourth quarter valued at about $2,715,000. Mutual of America Capital Management LLC grew its stake in shares of Avery Dennison by 133.4% during the fourth quarter. Mutual of America Capital Management LLC now owns 26,318 shares of the industrial products company’s stock worth $5,320,000 after acquiring an additional 15,040 shares during the last quarter. Cerity Partners LLC grew its stake in shares of Avery Dennison by 4,159.9% during the fourth quarter. Cerity Partners LLC now owns 1,191,228 shares of the industrial products company’s stock worth $240,819,000 after acquiring an additional 1,163,264 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Avery Dennison by 192.2% during the fourth quarter. Assenagon Asset Management S.A. now owns 10,713 shares of the industrial products company’s stock worth $2,166,000 after acquiring an additional 7,047 shares during the last quarter. Finally, Janney Montgomery Scott LLC grew its stake in shares of Avery Dennison by 736.1% during the third quarter. Janney Montgomery Scott LLC now owns 142,766 shares of the industrial products company’s stock worth $26,080,000 after acquiring an additional 125,691 shares during the last quarter. Hedge funds and other institutional investors own 94.17% of the company’s stock.

Avery Dennison Trading Up 0.1 %

Shares of NYSE:AVY opened at $211.77 on Tuesday. Avery Dennison Co. has a 12-month low of $158.93 and a 12-month high of $225.26. The company has a market capitalization of $17.05 billion, a PE ratio of 34.10, a PEG ratio of 3.27 and a beta of 0.90. The business has a 50 day moving average of $215.07 and a two-hundred day moving average of $199.73. The company has a current ratio of 1.04, a quick ratio of 0.69 and a debt-to-equity ratio of 1.23.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings results on Wednesday, January 31st. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.16. Avery Dennison had a return on equity of 30.97% and a net margin of 6.01%. The company had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.10 billion. During the same period in the previous year, the company posted $1.65 earnings per share. Avery Dennison’s revenue for the quarter was up 4.2% on a year-over-year basis. As a group, analysts forecast that Avery Dennison Co. will post 9.26 EPS for the current year.

Avery Dennison Dividend Announcement

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

Insider Buying and Selling at Avery Dennison

In other news, Director Julia A. Stewart sold 5,311 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $202.26, for a total value of $1,074,202.86. Following the completion of the sale, the director now directly owns 5,018 shares in the company, valued at $1,014,940.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Ryan D. Yost sold 1,400 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $213.29, for a total value of $298,606.00. Following the completion of the sale, 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 Securities & Exchange Commission, which can be accessed through this link. Also, Director Julia A. Stewart sold 5,311 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $202.26, for a total value of $1,074,202.86. Following the completion of the sale, the director now owns 5,018 shares of the company’s stock, valued at $1,014,940.68. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,879 shares of company stock valued at $4,217,705. 1.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Bank of America lowered 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. Raymond James boosted their price target on Avery Dennison from $199.00 to $225.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. StockNews.com upgraded Avery Dennison from a “hold” rating to a “buy” rating in a research note on Monday. Truist Financial restated a “buy” rating and set a $249.00 price target on shares of Avery Dennison in a research note on Friday, January 19th. Finally, Citigroup lifted their target price on Avery Dennison from $223.00 to $234.00 and gave the stock a “neutral” rating in a report on Thursday, April 4th. One analyst has rated the stock with a sell rating, one has issued a hold rating and eight 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 $221.00.

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.