Ieq Capital LLC Sells 207 Shares of Avery Dennison Co. (NYSE:AVY)

Ieq Capital LLC lowered its position in shares of Avery Dennison Co. (NYSE:AVY) by 13.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,373 shares of the industrial products company’s stock after selling 207 shares during the period. Ieq Capital LLC’s holdings in Avery Dennison were worth $278,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Ameriprise Financial Inc. boosted its position in Avery Dennison by 22.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,670,469 shares of the industrial products company’s stock valued at $487,857,000 after acquiring an additional 493,857 shares in the last quarter. Morgan Stanley grew its stake in Avery Dennison by 55.7% in the third quarter. Morgan Stanley now owns 1,788,321 shares of the industrial products company’s stock valued at $326,673,000 after purchasing an additional 639,521 shares during the last quarter. Cerity Partners LLC raised its holdings in Avery Dennison by 4,159.9% in the fourth quarter. Cerity Partners LLC now owns 1,191,228 shares of the industrial products company’s stock worth $240,819,000 after purchasing an additional 1,163,264 shares in the last quarter. Truist Financial Corp lifted its position in shares of Avery Dennison by 5.5% during the third quarter. Truist Financial Corp now owns 1,096,524 shares of the industrial products company’s stock valued at $200,302,000 after buying an additional 57,106 shares during the last quarter. Finally, Boston Partners boosted its holdings in shares of Avery Dennison by 43.9% in the 3rd quarter. Boston Partners now owns 1,007,542 shares of the industrial products company’s stock valued at $184,026,000 after buying an additional 307,325 shares in the last quarter. 94.17% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Avery Dennison news, CFO Gregory Lovins sold 2,894 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $227.20, for a total value of $657,516.80. Following the completion of the transaction, the chief financial officer now directly owns 67,457 shares of the company’s stock, valued at $15,326,230.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Ryan D. Yost sold 1,400 shares of the firm’s stock in a transaction 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 sale, the insider now owns 2,843 shares in the company, valued at $606,383.47. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Gregory Lovins sold 2,894 shares of the company’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $227.20, for a total transaction of $657,516.80. Following the completion of the transaction, the chief financial officer now owns 67,457 shares of the company’s stock, valued at approximately $15,326,230.40. The disclosure for this sale can be found here. Insiders have sold a total of 17,462 shares of company stock valued at $3,801,019 over the last ninety days. Company insiders own 1.10% of the company’s stock.

Avery Dennison Price Performance

Shares of NYSE:AVY opened at $226.30 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.58 and a debt-to-equity ratio of 0.94. Avery Dennison Co. has a twelve month low of $158.93 and a twelve month high of $228.15. The company’s 50 day moving average is $218.34 and its 200 day moving average is $205.35. The company has a market cap of $18.23 billion, a PE ratio of 33.04, a price-to-earnings-growth ratio of 3.45 and a beta of 0.91.

Avery Dennison (NYSE:AVY) last issued its earnings results on Wednesday, April 24th. The industrial products company reported $2.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.14. The firm had revenue of $2.15 billion during the quarter, compared to analysts’ expectations of $2.15 billion. Avery Dennison had a net margin of 6.56% and a return on equity of 32.59%. On average, sell-side analysts forecast that Avery Dennison Co. will post 9.31 EPS for the current year.

Avery Dennison Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Wednesday, June 5th will be issued a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.56%. The ex-dividend date is Wednesday, June 5th. This is a boost from Avery Dennison’s previous quarterly dividend of $0.81. Avery Dennison’s payout ratio is 51.39%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on AVY shares. Robert W. Baird raised their target price on shares of Avery Dennison from $215.00 to $230.00 and gave the company an “outperform” rating in a research note on Thursday, April 25th. Argus boosted their target price on Avery Dennison from $240.00 to $245.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. Raymond James reiterated an “outperform” rating and issued a $240.00 price target (up from $225.00) on shares of Avery Dennison in a research note on Thursday, April 25th. JPMorgan Chase & Co. boosted their price target on Avery Dennison from $218.00 to $220.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. Finally, 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 note on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $228.50.

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.