abrdn plc Acquires 13,959 Shares of Avery Dennison Co. (NYSE:AVY)

abrdn plc lifted its holdings in Avery Dennison Co. (NYSE:AVY) by 36.4% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 52,345 shares of the industrial products company’s stock after purchasing an additional 13,959 shares during the period. abrdn plc owned about 0.07% of Avery Dennison worth $10,582,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Annis Gardner Whiting Capital Advisors LLC bought a new stake in Avery Dennison during the 3rd quarter worth approximately $32,000. Milestone Investment Advisors LLC bought a new stake in Avery Dennison during the 3rd quarter worth approximately $36,000. Anchor Investment Management LLC bought a new stake in Avery Dennison during the 4th quarter worth approximately $42,000. Livforsakringsbolaget Skandia Omsesidigt raised its stake in Avery Dennison by 164.4% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 267 shares of the industrial products company’s stock worth $54,000 after acquiring an additional 166 shares during the period. Finally, Adirondack Trust Co. bought a new stake in Avery Dennison during the 3rd quarter worth approximately $55,000. Institutional investors own 94.17% of the company’s stock.

Avery Dennison Stock Up 2.2 %

NYSE AVY opened at $217.09 on Friday. The company has a quick ratio of 0.69, a current ratio of 1.04 and a debt-to-equity ratio of 1.23. The company has a fifty day moving average of $215.51 and a two-hundred day moving average of $200.13. The firm has a market capitalization of $17.48 billion, a price-to-earnings ratio of 34.96, a PEG ratio of 3.26 and a beta of 0.90. Avery Dennison Co. has a 52 week low of $158.93 and a 52 week high of $225.26.

Avery Dennison (NYSE:AVY) last posted its quarterly earnings data on Wednesday, January 31st. The industrial products company reported $2.16 EPS for the quarter, hitting the consensus estimate of $2.16. Avery Dennison had a net margin of 6.01% and a return on equity of 30.97%. The company had revenue of $2.11 billion during the quarter, compared to analyst estimates of $2.10 billion. During the same period in the previous year, the firm earned $1.65 earnings per share. Avery Dennison’s quarterly revenue was up 4.2% compared to the same quarter last year. On average, analysts predict that Avery Dennison Co. will post 9.26 earnings per share for the current year.

Avery Dennison Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th were given a dividend of $0.81 per share. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $3.24 annualized dividend and a dividend yield of 1.49%. Avery Dennison’s dividend payout ratio (DPR) is 52.17%.

Analysts Set New Price Targets

Several research firms have recently issued reports on AVY. Robert W. Baird lifted their price objective on shares of Avery Dennison from $215.00 to $230.00 and gave the company an “outperform” rating in a research report on Thursday. UBS Group lifted their price objective on shares of Avery Dennison from $225.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, January 11th. Citigroup raised their target price on shares of Avery Dennison from $223.00 to $234.00 and gave the company a “neutral” rating in a report on Thursday, April 4th. StockNews.com raised shares of Avery Dennison from a “hold” rating to a “buy” rating in a report on Monday. Finally, Raymond James reissued an “outperform” rating and issued a $240.00 target price (up from $225.00) on shares of Avery Dennison in a report on Thursday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Avery Dennison currently has a consensus rating of “Moderate Buy” and an average price target of $223.60.

Insider Transactions at Avery Dennison

In other news, insider Ryan D. Yost sold 1,400 shares of Avery Dennison stock in a transaction on 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 directly owns 2,843 shares in the company, valued at $606,383.47. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related 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 value of $298,606.00. Following the completion of the sale, the insider now directly owns 2,843 shares in the company, valued at $606,383.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Ignacio J. Walker sold 5,000 shares of Avery Dennison stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $213.90, for a total value of $1,069,500.00. Following the completion of the sale, the senior vice president now owns 6,102 shares of the company’s stock, valued at $1,305,217.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,879 shares of company stock worth $4,217,705. 1.10% of the stock is currently owned by insiders.

Avery Dennison Company 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.