Avery Dennison Co. (NYSE:AVY) Stock Holdings Increased by First Trust Direct Indexing L.P.

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

Several other hedge funds also recently modified their holdings of AVY. Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of Avery Dennison during the 3rd quarter valued at $32,000. Milestone Investment Advisors LLC acquired a new position in shares of Avery Dennison during the 3rd quarter valued at $36,000. Anchor Investment Management LLC acquired a new position in shares of Avery Dennison during the 4th quarter valued at $42,000. Livforsakringsbolaget Skandia Omsesidigt increased its position 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 valued at $54,000 after purchasing an additional 166 shares during the period. Finally, Adirondack Trust Co. acquired a new position in shares of Avery Dennison during the 3rd quarter valued at $55,000. 94.17% of the stock is currently owned by institutional investors and hedge funds.

Avery Dennison Price Performance

Shares of NYSE:AVY opened at $223.77 on Wednesday. Avery Dennison Co. has a fifty-two week low of $158.93 and a fifty-two week high of $225.26. The business has a 50-day moving average of $216.74 and a two-hundred day moving average of $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. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.87 and a quick ratio of 0.58.

Avery Dennison Increases Dividend

The firm also recently disclosed 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. This represents a $3.52 annualized dividend and a dividend yield of 1.57%. The ex-dividend date is Tuesday, June 4th. This is a boost from Avery Dennison’s previous quarterly dividend of $0.81. Avery Dennison’s payout ratio is currently 47.30%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on AVY shares. StockNews.com upgraded Avery Dennison from a “hold” rating to a “buy” rating in a report on Monday, April 22nd. JPMorgan Chase & Co. lifted their price target on Avery Dennison from $218.00 to $220.00 and gave the company an “overweight” rating in a report on Thursday, April 25th. Truist Financial lifted their price target on Avery Dennison from $248.00 to $253.00 and gave the company a “buy” rating in a report on Friday, April 26th. Citigroup lifted their price target on Avery Dennison from $223.00 to $234.00 and gave the company a “neutral” rating in a report on Thursday, April 4th. Finally, UBS Group lifted their price target on Avery Dennison from $225.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, January 11th. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Avery Dennison currently has a consensus rating of “Moderate Buy” and an average price target of $224.00.

Insider Buying and Selling

In related news, SVP Ignacio J. Walker sold 5,000 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $213.90, for a total transaction of $1,069,500.00. Following the completion of the transaction, the senior vice president now owns 6,102 shares of the company’s stock, valued at approximately $1,305,217.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction, the insider now directly owns 2,843 shares of the company’s stock, valued at approximately $606,383.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Ignacio J. Walker sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $213.90, for a total value of $1,069,500.00. Following the completion of the transaction, the senior vice president now directly owns 6,102 shares in the company, valued at $1,305,217.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,568 shares of company stock valued at $3,143,502. Insiders own 1.10% of the company’s stock.

About Avery Dennison

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.