NewEdge Wealth LLC Purchases New Shares in Avery Dennison Co. (NYSE:AVY)

NewEdge Wealth LLC purchased a new stake in Avery Dennison Co. (NYSE:AVY) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,200 shares of the industrial products company’s stock, valued at approximately $243,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. raised its position in Avery Dennison by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 9,674,317 shares of the industrial products company’s stock valued at $1,683,041,000 after buying an additional 24,670 shares during the last quarter. BlackRock Inc. raised its position in Avery Dennison by 0.6% in the 1st quarter. BlackRock Inc. now owns 6,555,514 shares of the industrial products company’s stock valued at $1,172,978,000 after buying an additional 41,032 shares during the last quarter. Ameriprise Financial Inc. raised its position in Avery Dennison by 22.7% in 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 buying an additional 493,857 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Avery Dennison by 1.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,242,669 shares of the industrial products company’s stock valued at $405,923,000 after buying an additional 39,266 shares during the last quarter. Finally, Lazard Asset Management LLC raised its position in Avery Dennison by 8.1% in the 4th quarter. Lazard Asset Management LLC now owns 2,046,007 shares of the industrial products company’s stock valued at $370,326,000 after buying an additional 153,211 shares during the last quarter. 94.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AVY. UBS Group raised their target price on Avery Dennison from $225.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, January 11th. StockNews.com lowered Avery Dennison from a “buy” rating to a “hold” rating in a research report on Wednesday, March 27th. Truist Financial reaffirmed a “buy” rating and set a $249.00 target price on shares of Avery Dennison in a research report on Friday, January 19th. Citigroup raised their target price on Avery Dennison from $223.00 to $234.00 and gave the company a “neutral” rating in a research report on Thursday, April 4th. Finally, Bank of America lowered Avery Dennison from a “buy” rating to an “underperform” rating and set a $208.00 target price for the company. in a research report on Tuesday, January 2nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $221.00.

Avery Dennison Stock Up 0.2 %

AVY stock opened at $209.35 on Friday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.69 and a current ratio of 1.04. The company has a market capitalization of $16.86 billion, a price-to-earnings ratio of 33.71, a PEG ratio of 3.25 and a beta of 0.90. Avery Dennison Co. has a fifty-two week low of $158.93 and a fifty-two week high of $225.26. The stock has a fifty day moving average of $214.84 and a 200-day moving average of $199.06.

Avery Dennison (NYSE:AVY) last posted its quarterly earnings results on Wednesday, January 31st. The industrial products company reported $2.16 earnings per share for the quarter, hitting the consensus estimate of $2.16. Avery Dennison had a return on equity of 30.97% and a net margin of 6.01%. The company had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.10 billion. During the same quarter in the prior year, the company earned $1.65 EPS. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. As a group, equities research analysts predict that Avery Dennison Co. will post 9.28 earnings per share for the current year.

Avery Dennison Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, March 6th were paid a $0.81 dividend. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $3.24 annualized dividend and a yield of 1.55%. Avery Dennison’s dividend payout ratio is currently 52.17%.

Insiders Place Their Bets

In other Avery Dennison news, Director Julia A. Stewart sold 5,311 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $202.26, for a total value of $1,074,202.86. Following the completion of the transaction, the director now owns 5,018 shares in the company, valued at approximately $1,014,940.68. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Ryan D. Yost sold 1,400 shares of Avery Dennison stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $213.29, for a total transaction of $298,606.00. Following the completion of the sale, the insider now owns 2,843 shares in the company, valued at approximately $606,383.47. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Julia A. Stewart sold 5,311 shares of Avery Dennison stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $202.26, for a total value of $1,074,202.86. Following the sale, the director now owns 5,018 shares of the company’s stock, valued at approximately $1,014,940.68. The disclosure for this sale can be found here. Insiders sold a total of 19,879 shares of company stock worth $4,217,705 in the last quarter. 1.10% of the stock is owned by company insiders.

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.