First Trust Direct Indexing L.P. Purchases 57 Shares of Avery Dennison Co. (NYSE:AVY)

First Trust Direct Indexing L.P. raised its position in Avery Dennison Co. (NYSE:AVY) by 5.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,198 shares of the industrial products company’s stock after purchasing an additional 57 shares during the period. First Trust Direct Indexing L.P.’s holdings in Avery Dennison were worth $242,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of AVY. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Avery Dennison during the 3rd quarter worth $32,000. Milestone Investment Advisors LLC bought a new stake in shares of Avery Dennison during the 3rd quarter worth $36,000. Anchor Investment Management LLC bought a new stake in shares of Avery Dennison during the 4th quarter worth $42,000. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in shares of Avery Dennison by 164.4% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 267 shares of the industrial products company’s stock worth $54,000 after acquiring an additional 166 shares during the last quarter. Finally, Adirondack Trust Co. bought a new stake in shares of Avery Dennison during the 3rd quarter worth $55,000. 94.17% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Chairman Mitchell R. Butier sold 8,168 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $217.36, for a total transaction of $1,775,396.48. Following the sale, the chairman now owns 321,487 shares of the company’s stock, valued at $69,878,414.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Chairman Mitchell R. Butier sold 8,168 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $217.36, for a total transaction of $1,775,396.48. Following the completion of the transaction, the chairman now directly owns 321,487 shares of the company’s stock, valued at $69,878,414.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ryan D. Yost sold 1,400 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $213.29, for a total transaction of $298,606.00. Following the transaction, 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. Insiders have sold 14,568 shares of company stock valued at $3,143,502 over the last quarter. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

AVY has been the topic of a number of analyst reports. Truist Financial lifted their target price on shares of 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 issued a $240.00 target price (up previously from $225.00) on shares of Avery Dennison in a research report on Thursday, April 25th. UBS Group lifted their target price on shares of Avery Dennison from $225.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday, January 11th. Citigroup boosted their price objective on shares of Avery Dennison from $223.00 to $234.00 and gave the company a “neutral” rating in a research report on Thursday, April 4th. Finally, StockNews.com upgraded shares of Avery Dennison from a “hold” rating to a “buy” rating in a research report on Monday, April 22nd. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $224.00.

Avery Dennison Price Performance

Shares of NYSE AVY opened at $223.77 on Wednesday. Avery Dennison Co. has a 1 year low of $158.93 and a 1 year high of $225.26. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.87 and a quick ratio of 0.58. The company’s 50-day moving average is $216.74 and its 200 day moving average is $202.53. The stock has a market capitalization of $18.02 billion, a P/E ratio of 32.67, a P/E/G ratio of 3.41 and a beta of 0.91.

Avery Dennison Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Wednesday, June 5th will be given a dividend of $0.88 per share. The ex-dividend date is Tuesday, June 4th. This represents a $3.52 annualized dividend and a dividend yield of 1.57%. This is a boost from Avery Dennison’s previous quarterly dividend of $0.81. Avery Dennison’s payout ratio is currently 47.30%.

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.