Avery Dennison Co. (NYSE:AVY) Shares Acquired by Colton Groome Financial Advisors LLC

Colton Groome Financial Advisors LLC grew its position in Avery Dennison Co. (NYSE:AVY) by 38.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,170 shares of the industrial products company’s stock after purchasing an additional 875 shares during the quarter. Colton Groome Financial Advisors LLC’s holdings in Avery Dennison were worth $641,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of AVY. AEGON ASSET MANAGEMENT UK Plc purchased a new position in shares of Avery Dennison in the 4th quarter valued at $2,715,000. Mutual of America Capital Management LLC grew its position in shares of Avery Dennison by 133.4% in the 4th quarter. Mutual of America Capital Management LLC now owns 26,318 shares of the industrial products company’s stock valued at $5,320,000 after buying an additional 15,040 shares during the last quarter. Cerity Partners LLC grew its position in shares of Avery Dennison by 4,159.9% in the 4th quarter. Cerity Partners LLC now owns 1,191,228 shares of the industrial products company’s stock valued at $240,819,000 after buying an additional 1,163,264 shares during the last quarter. Assenagon Asset Management S.A. grew its position in shares of Avery Dennison by 192.2% in the 4th quarter. Assenagon Asset Management S.A. now owns 10,713 shares of the industrial products company’s stock valued at $2,166,000 after buying an additional 7,047 shares during the last quarter. Finally, Janney Montgomery Scott LLC grew its position in shares of Avery Dennison by 736.1% in the 3rd quarter. Janney Montgomery Scott LLC now owns 142,766 shares of the industrial products company’s stock valued at $26,080,000 after buying an additional 125,691 shares during the last quarter. 94.17% of the stock is currently owned by institutional investors and hedge funds.

Avery Dennison Stock Performance

Shares of NYSE:AVY traded up $0.43 during midday trading on Thursday, hitting $209.35. The stock had a trading volume of 305,456 shares, compared to its average volume of 428,407. The company has a market capitalization of $16.86 billion, a PE ratio of 33.64, a P/E/G ratio of 3.25 and a beta of 0.90. The stock has a 50 day moving average price of $214.71 and a two-hundred day moving average price of $198.99. The company has a current ratio of 1.04, a quick ratio of 0.69 and a debt-to-equity ratio of 1.23. Avery Dennison Co. has a 1 year low of $158.93 and a 1 year high of $225.26.

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

Avery Dennison Announces Dividend

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

Analyst Ratings Changes

AVY has been the topic of a number of recent analyst reports. Truist Financial reaffirmed a “buy” rating and issued a $249.00 target price on shares of Avery Dennison in a research report on Friday, January 19th. Citigroup raised their price objective on shares of Avery Dennison from $223.00 to $234.00 and gave the stock a “neutral” rating in a research report on Thursday, April 4th. JPMorgan Chase & Co. raised their price objective on shares of Avery Dennison from $185.00 to $218.00 and gave the stock an “overweight” rating in a research report on Thursday, February 1st. UBS Group raised their price objective on shares of Avery Dennison from $225.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday, January 11th. Finally, StockNews.com downgraded shares of Avery Dennison from a “buy” rating to a “hold” rating in a research report on Wednesday, March 27th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $221.00.

Insider Activity at Avery Dennison

In related news, insider Ryan D. Yost sold 1,400 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $213.29, for a total value of $298,606.00. Following the completion of the sale, the insider now owns 2,843 shares in the company, valued at $606,383.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Ryan D. Yost sold 1,400 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $213.29, for a total value of $298,606.00. Following the completion of the sale, the insider now owns 2,843 shares in the company, valued at $606,383.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Julia A. Stewart sold 5,311 shares of Avery Dennison stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $202.26, for a total transaction of $1,074,202.86. Following the transaction, 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 19,879 shares of company stock worth $4,217,705 over the last 90 days. Company 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.