Albar Capital Ltd Sells 9,247 Shares of Avery Dennison Co. (NYSE:AVY)

Albar Capital Ltd reduced its stake in shares of Avery Dennison Co. (NYSE:AVYFree Report) by 10.4% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 79,568 shares of the industrial products company’s stock after selling 9,247 shares during the period. Avery Dennison comprises approximately 3.4% of Albar Capital Ltd’s portfolio, making the stock its 14th biggest position. Albar Capital Ltd’s holdings in Avery Dennison were worth $16,085,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Alliance Wealth Advisors LLC UT grew its holdings in Avery Dennison by 1.5% during the fourth quarter. Alliance Wealth Advisors LLC UT now owns 3,840 shares of the industrial products company’s stock worth $776,000 after buying an additional 56 shares in the last quarter. First Trust Direct Indexing L.P. boosted its holdings in Avery Dennison by 5.0% during 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 purchasing an additional 57 shares during the last quarter. Condor Capital Management increased its stake in Avery Dennison by 0.4% in the 4th quarter. Condor Capital Management now owns 13,716 shares of the industrial products company’s stock valued at $2,773,000 after buying an additional 60 shares during the last quarter. Checchi Capital Advisers LLC grew its holdings 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 valued at $248,000 after acquiring an additional 62 shares in the last quarter. Finally, Lindbrook Capital LLC increased its position in shares of Avery Dennison by 11.5% during the fourth quarter. Lindbrook Capital LLC now owns 630 shares of the industrial products company’s stock valued at $127,000 after acquiring an additional 65 shares during the last quarter. 94.17% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Ryan D. Yost sold 149 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $226.38, for a total value of $33,730.62. Following the completion of the transaction, the insider now owns 2,110 shares of the company’s stock, valued at approximately $477,661.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Ryan D. Yost sold 1,400 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $606,383.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ryan D. Yost sold 149 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $226.38, for a total transaction of $33,730.62. Following the transaction, the insider now directly owns 2,110 shares of the company’s stock, valued at approximately $477,661.80. The disclosure for this sale can be found here. Insiders sold 11,777 shares of company stock worth $2,654,858 over the last three months. Company insiders own 1.10% of the company’s stock.

Avery Dennison Trading Down 0.3 %

Shares of Avery Dennison stock traded down $0.63 during trading on Friday, reaching $226.29. 245,227 shares of the stock were exchanged, compared to its average volume of 432,197. Avery Dennison Co. has a 1 year low of $162.32 and a 1 year high of $229.98. The firm has a market cap of $18.23 billion, a price-to-earnings ratio of 33.04, a price-to-earnings-growth ratio of 2.08 and a beta of 0.91. 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 stock’s fifty day moving average is $220.99 and its 200 day moving average is $210.11.

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

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 Wednesday, June 5th. This represents a $3.52 annualized dividend and a dividend yield of 1.56%. This is a boost from Avery Dennison’s previous quarterly dividend of $0.81. Avery Dennison’s payout ratio is currently 51.39%.

Analysts Set New Price Targets

A number of brokerages have issued reports on AVY. Argus upped their price objective on Avery Dennison from $240.00 to $245.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Robert W. Baird lifted their price objective on shares of Avery Dennison from $230.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday. StockNews.com raised shares of Avery Dennison from a “hold” rating to a “buy” rating in a report on Monday, April 22nd. Truist Financial raised their target price on Avery Dennison from $248.00 to $253.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Finally, JPMorgan Chase & Co. lifted their price objective on Avery Dennison from $218.00 to $220.00 and gave the stock an “overweight” rating in a report on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Avery Dennison presently has an average rating of “Moderate Buy” and an average price target of $230.50.

Read Our Latest Stock Report on AVY

About Avery Dennison

(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.

Further Reading

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

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