NEOS Investment Management LLC Purchases Shares of 991 Avery Dennison Co. (NYSE:AVY)

NEOS Investment Management LLC purchased a new stake in shares of Avery Dennison Co. (NYSE:AVYFree Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 991 shares of the industrial products company’s stock, valued at approximately $200,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Alliance Wealth Advisors LLC UT grew its stake in shares of Avery Dennison by 1.5% in the fourth quarter. Alliance Wealth Advisors LLC UT now owns 3,840 shares of the industrial products company’s stock worth $776,000 after acquiring an additional 56 shares during the last quarter. First Trust Direct Indexing L.P. grew its stake in shares of Avery Dennison by 5.0% in the fourth quarter. First Trust Direct Indexing L.P. now owns 1,198 shares of the industrial products company’s stock worth $242,000 after acquiring an additional 57 shares during the last quarter. Condor Capital Management grew its stake in shares of Avery Dennison by 0.4% in the fourth quarter. Condor Capital Management now owns 13,716 shares of the industrial products company’s stock worth $2,773,000 after acquiring an additional 60 shares during the last quarter. Checchi Capital Advisers LLC grew its stake in shares of Avery Dennison by 5.3% in the fourth quarter. Checchi Capital Advisers LLC now owns 1,228 shares of the industrial products company’s stock worth $248,000 after acquiring an additional 62 shares during the last quarter. Finally, Lindbrook Capital LLC grew its stake in shares of Avery Dennison by 11.5% in the fourth quarter. Lindbrook Capital LLC now owns 630 shares of the industrial products company’s stock worth $127,000 after acquiring an additional 65 shares during the last quarter. Institutional investors and hedge funds 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 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 in the company, valued at $606,383.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Ryan D. Yost sold 1,400 shares of the stock in a transaction that occurred on 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Ryan D. Yost sold 584 shares of the stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $221.31, for a total transaction of $129,245.04. Following the completion of the transaction, the insider now owns 2,259 shares in the company, valued at $499,939.29. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,777 shares of company stock worth $2,654,858. Corporate insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on AVY shares. Truist Financial lifted their price target 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. Argus lifted their price target on shares of Avery Dennison from $240.00 to $245.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. StockNews.com upgraded shares of Avery Dennison from a “hold” rating to a “buy” rating in a research note on Monday, April 22nd. Robert W. Baird lifted their price target on shares of Avery Dennison from $230.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, Raymond James reiterated an “outperform” rating and set a $240.00 price target (up previously from $225.00) on shares of Avery Dennison in a research note on Thursday, April 25th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $230.50.

Check Out Our Latest Report on Avery Dennison

Avery Dennison Price Performance

NYSE:AVY opened at $226.29 on Friday. The firm has a market cap of $18.23 billion, a PE ratio of 33.04, a price-to-earnings-growth ratio of 2.10 and a beta of 0.91. Avery Dennison Co. has a 12 month low of $162.32 and a 12 month high of $229.98. The company has a quick ratio of 0.58, a current ratio of 0.87 and a debt-to-equity ratio of 0.94. The company’s 50-day moving average price is $220.99 and its two-hundred day moving average price is $209.82.

Avery Dennison (NYSE:AVYGet Free Report) last announced its earnings results on Wednesday, April 24th. The industrial products company reported $2.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.14. Avery Dennison had a net margin of 6.56% and a return on equity of 32.59%. The company had revenue of $2.15 billion for the quarter, compared to analyst estimates of $2.15 billion. On average, equities analysts anticipate that Avery Dennison Co. will post 9.32 EPS for the current fiscal year.

Avery Dennison Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Wednesday, June 5th will be given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.56%. This is a positive change from Avery Dennison’s previous quarterly dividend of $0.81. The ex-dividend date is Wednesday, June 5th. Avery Dennison’s dividend payout ratio is presently 51.39%.

Avery Dennison Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Avery Dennison (NYSE:AVY)

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