Laird Norton Wetherby Wealth Management LLC Sells 117 Shares of Avery Dennison Co. (NYSE:AVY)

Laird Norton Wetherby Wealth Management LLC lowered its position in Avery Dennison Co. (NYSE:AVY) by 3.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,080 shares of the industrial products company’s stock after selling 117 shares during the quarter. Laird Norton Wetherby Wealth Management LLC’s holdings in Avery Dennison were worth $576,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Regents Gate Capital LLP purchased a new stake in shares of Avery Dennison during the 4th quarter valued at $37,000. Spire Wealth Management lifted its holdings in shares of Avery Dennison by 76.0% during the 4th quarter. Spire Wealth Management now owns 301 shares of the industrial products company’s stock valued at $56,000 after purchasing an additional 130 shares during the last quarter. VisionPoint Advisory Group LLC purchased a new stake in shares of Avery Dennison during the 4th quarter valued at $68,000. AdvisorNet Financial Inc lifted its holdings in shares of Avery Dennison by 18.8% during the 4th quarter. AdvisorNet Financial Inc now owns 367 shares of the industrial products company’s stock valued at $69,000 after purchasing an additional 58 shares during the last quarter. Finally, Assetmark Inc. lifted its holdings in shares of Avery Dennison by 22.5% during the 4th quarter. Assetmark Inc. now owns 397 shares of the industrial products company’s stock valued at $74,000 after purchasing an additional 73 shares during the last quarter. Hedge funds and other institutional investors own 94.17% of the company’s stock.

Avery Dennison Price Performance

NYSE:AVY opened at $181.85 on Friday. Avery Dennison Co. has a 12 month low of $157.00 and a 12 month high of $233.48. The stock has a 50 day moving average of $173.62 and a two-hundred day moving average of $185.98. The company has a current ratio of 1.08, a quick ratio of 0.73 and a debt-to-equity ratio of 1.10. The firm has a market cap of $14.22 billion, a P/E ratio of 20.85, a price-to-earnings-growth ratio of 2.07 and a beta of 0.88.

Avery Dennison (NYSE:AVY) last posted its quarterly earnings results on Wednesday, April 23rd. The industrial products company reported $2.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.32 by ($0.02). The company had revenue of $2.15 billion during the quarter, compared to analysts’ expectations of $2.15 billion. Avery Dennison had a net margin of 8.05% and a return on equity of 33.06%. Avery Dennison’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter last year, the company earned $2.29 earnings per share. On average, analysts expect that Avery Dennison Co. will post 9.96 earnings per share for the current fiscal year.

Avery Dennison Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th will be issued a $0.94 dividend. The ex-dividend date is Wednesday, June 4th. This is a boost from Avery Dennison’s previous quarterly dividend of $0.88. This represents a $3.76 dividend on an annualized basis and a yield of 2.07%. Avery Dennison’s dividend payout ratio is currently 43.32%.

Insider Activity at Avery Dennison

In other Avery Dennison news, Chairman Mitchell R. Butier sold 12,969 shares of the company’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $181.85, for a total transaction of $2,358,412.65. Following the transaction, the chairman now directly owns 303,331 shares in the company, valued at $55,160,742.35. This represents a 4.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.84% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on AVY shares. Truist Financial reduced their target price on Avery Dennison from $215.00 to $210.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. UBS Group reduced their target price on Avery Dennison from $207.00 to $189.00 and set a “neutral” rating for the company in a research note on Monday, April 7th. Argus downgraded Avery Dennison from a “strong-buy” rating to a “hold” rating in a research report on Monday. Raymond James cut their price target on Avery Dennison from $208.00 to $194.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. downgraded Avery Dennison from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $205.00 to $172.00 in a research report on Thursday, April 24th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Avery Dennison has a consensus rating of “Moderate Buy” and a consensus target price of $206.60.

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.