HighTower Advisors LLC Acquires 2,351 Shares of Avery Dennison Co. (NYSE:AVY)

HighTower Advisors LLC raised its holdings in shares of Avery Dennison Co. (NYSE:AVY – Get Rating) by 19.0% during the fourth quarter, Holdings Channel reports. The fund owned 14,712 shares of the industrial products company’s stock after buying an additional 2,351 shares during the period. HighTower Advisors LLC’s holdings in Avery Dennison were worth $2,660,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. State of Alaska Department of Revenue boosted its stake in shares of Avery Dennison by 0.3% during the fourth quarter. State of Alaska Department of Revenue now owns 19,053 shares of the industrial products company’s stock valued at $3,448,000 after purchasing an additional 52 shares during the period. Waldron Private Wealth LLC boosted its stake in shares of Avery Dennison by 3.4% during the third quarter. Waldron Private Wealth LLC now owns 1,704 shares of the industrial products company’s stock valued at $277,000 after purchasing an additional 56 shares during the period. Yousif Capital Management LLC boosted its stake in shares of Avery Dennison by 0.5% during the first quarter. Yousif Capital Management LLC now owns 12,732 shares of the industrial products company’s stock valued at $2,215,000 after purchasing an additional 65 shares during the period. Wall Street Access Asset Management LLC boosted its stake in shares of Avery Dennison by 2.5% during the fourth quarter. Wall Street Access Asset Management LLC now owns 2,727 shares of the industrial products company’s stock valued at $494,000 after purchasing an additional 67 shares during the period. Finally, City Holding Co. boosted its stake in shares of Avery Dennison by 1.2% during the fourth quarter. City Holding Co. now owns 5,963 shares of the industrial products company’s stock valued at $1,079,000 after purchasing an additional 70 shares during the period. Hedge funds and other institutional investors own 89.05% of the company’s stock.

Insider Activity

In other news, SVP Nicholas Colisto sold 3,842 shares of the firm’s stock in a transaction on Thursday, March 2nd. The stock was sold at an average price of $180.43, for a total transaction of $693,212.06. Following the completion of the transaction, the senior vice president now directly owns 7,978 shares in the company, valued at $1,439,470.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Julia A. Stewart sold 930 shares of Avery Dennison stock in a transaction dated Tuesday, May 2nd. The stock was sold at an average price of $172.99, for a total value of $160,880.70. Following the completion of the sale, the director now directly owns 15,962 shares in the company, valued at approximately $2,761,266.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Nicholas Colisto sold 3,842 shares of Avery Dennison stock in a transaction dated Thursday, March 2nd. The stock was sold at an average price of $180.43, for a total value of $693,212.06. Following the completion of the sale, the senior vice president now owns 7,978 shares of the company’s stock, valued at $1,439,470.54. The disclosure for this sale can be found here. Insiders sold 10,572 shares of company stock worth $1,909,693 over the last three months. 1.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on AVY shares. Raymond James raised their price target on Avery Dennison from $190.00 to $205.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 25th. BMO Capital Markets dropped their price target on Avery Dennison from $240.00 to $233.00 and set an “outperform” rating for the company in a research note on Monday, February 6th. StockNews.com started coverage on Avery Dennison in a research note on Thursday, May 18th. They issued a “hold” rating for the company. Finally, Truist Financial dropped their price target on Avery Dennison from $229.00 to $223.00 and set a “buy” rating for the company in a research note on Friday, February 3rd. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $212.29.

Avery Dennison Stock Performance

Shares of Avery Dennison stock opened at $170.77 on Tuesday. The company has a current ratio of 1.13, a quick ratio of 0.73 and a debt-to-equity ratio of 1.42. The firm has a market capitalization of $13.79 billion, a P/E ratio of 20.55, a P/E/G ratio of 2.72 and a beta of 0.95. The business has a fifty day simple moving average of $173.56 and a two-hundred day simple moving average of $180.51. Avery Dennison Co. has a 12 month low of $151.62 and a 12 month high of $204.37.

Avery Dennison (NYSE:AVY – Get Rating) last announced its quarterly earnings data on Wednesday, April 26th. The industrial products company reported $1.70 EPS for the quarter, beating the consensus estimate of $1.66 by $0.04. The business had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.18 billion. Avery Dennison had a return on equity of 34.49% and a net margin of 7.77%. The company’s revenue for the quarter was down 12.1% on a year-over-year basis. During the same quarter last year, the firm posted $2.40 earnings per share. On average, equities analysts forecast that Avery Dennison Co. will post 8.98 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 Wednesday, June 21st. Stockholders of record on Wednesday, June 7th will be issued a dividend of $0.81 per share. The ex-dividend date of this dividend is Tuesday, June 6th. This is an increase from Avery Dennison’s previous quarterly dividend of $0.75. This represents a $3.24 annualized dividend and a dividend yield of 1.90%. Avery Dennison’s dividend payout ratio (DPR) is presently 36.10%.

Avery Dennison Profile

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Avery Dennison Corp. engages in the provision of labeling and packaging materials and solutions. It operates through the Materials and Solutions Group segments. The Materials Group segment manufactures and sells pressure-sensitive label materials, films for graphic and reflective products, performance tapes and other adhesive products for industrial, medical and other applications, as well as fastener solutions.