First Horizon Advisors Inc. Sells 58 Shares of Avery Dennison Co. (NYSE:AVY)

First Horizon Advisors Inc. lessened its position in Avery Dennison Co. (NYSE:AVY) by 5.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 1,074 shares of the industrial products company’s stock after selling 58 shares during the period. First Horizon Advisors Inc.’s holdings in Avery Dennison were worth $217,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. First Trust Direct Indexing L.P. lifted its position in shares of Avery Dennison by 5.0% during the 4th 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. Savant Capital LLC boosted its position in shares of Avery Dennison by 15.2% in the fourth quarter. Savant Capital LLC now owns 3,115 shares of the industrial products company’s stock valued at $630,000 after acquiring an additional 411 shares during the period. Norden Group LLC grew its stake in shares of Avery Dennison by 3.9% in the fourth quarter. Norden Group LLC now owns 4,026 shares of the industrial products company’s stock worth $814,000 after acquiring an additional 151 shares during the last quarter. Intrust Bank NA increased its position in Avery Dennison by 15.6% during the fourth quarter. Intrust Bank NA now owns 2,572 shares of the industrial products company’s stock worth $520,000 after acquiring an additional 348 shares during the period. Finally, Choreo LLC acquired a new position in Avery Dennison during the 4th quarter valued at $1,182,000. Institutional investors and hedge funds own 94.17% of the company’s stock.

Insider Activity at Avery Dennison

In other Avery Dennison news, Director Julia A. Stewart sold 5,311 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $202.26, for a total transaction of $1,074,202.86. Following the sale, the director now directly owns 5,018 shares of the company’s stock, valued at $1,014,940.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Avery Dennison news, Director Julia A. Stewart sold 5,311 shares of the business’s stock in a transaction on 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 transaction, the director now owns 5,018 shares of the company’s stock, valued at $1,014,940.68. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Ignacio J. Walker sold 5,000 shares of the stock in a transaction 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 sale, the senior vice president now owns 6,102 shares in the company, valued at approximately $1,305,217.80. The disclosure for this sale can be found here. Insiders sold 19,879 shares of company stock valued at $4,217,705 in the last ninety days. Insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Avery Dennison from $218.00 to $220.00 and gave the stock an “overweight” rating in a report on Thursday, April 25th. Truist Financial boosted their price target on Avery Dennison from $248.00 to $253.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Citigroup raised their price objective on Avery Dennison from $223.00 to $234.00 and gave the stock a “neutral” rating in a research report on Thursday, April 4th. Raymond James reissued an “outperform” rating and set a $240.00 price objective (up previously from $225.00) on shares of Avery Dennison in a report on Thursday, April 25th. Finally, UBS Group upped their target price on Avery Dennison from $225.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, January 11th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $224.00.

Avery Dennison Stock Performance

Shares of NYSE:AVY opened at $221.55 on Monday. The stock has a market capitalization of $17.85 billion, a price-to-earnings ratio of 32.34, a price-to-earnings-growth ratio of 3.41 and a beta of 0.91. The business’s fifty day moving average price is $216.39 and its two-hundred day moving average price is $201.86. Avery Dennison Co. has a fifty-two week low of $158.93 and a fifty-two week high of $225.26. 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 company also recently announced 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 of this dividend is Tuesday, June 4th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.59%. This is a boost from Avery Dennison’s previous quarterly dividend of $0.81. Avery Dennison’s dividend payout ratio (DPR) is 47.30%.

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.