Oak Thistle LLC Boosts Holdings in Avery Dennison Co. (NYSE:AVY)

Oak Thistle LLC boosted its position in shares of Avery Dennison Co. (NYSE:AVY) by 32.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,075 shares of the industrial products company’s stock after buying an additional 506 shares during the quarter. Oak Thistle LLC’s holdings in Avery Dennison were worth $419,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in AVY. Moneta Group Investment Advisors LLC boosted its stake in shares of Avery Dennison by 102,432.0% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 1,947,083 shares of the industrial products company’s stock valued at $352,422,000 after purchasing an additional 1,945,184 shares during the period. Norges Bank purchased a new stake in shares of Avery Dennison during the fourth quarter valued at $153,787,000. Lazard Asset Management LLC boosted its stake in shares of Avery Dennison by 38.5% during the second quarter. Lazard Asset Management LLC now owns 2,316,506 shares of the industrial products company’s stock valued at $397,974,000 after purchasing an additional 643,675 shares during the period. Morgan Stanley boosted its stake in shares of Avery Dennison by 55.7% during the third quarter. Morgan Stanley now owns 1,788,321 shares of the industrial products company’s stock valued at $326,673,000 after purchasing an additional 639,521 shares during the period. Finally, Ameriprise Financial Inc. raised its holdings in shares of Avery Dennison by 22.7% in the third quarter. Ameriprise Financial Inc. now owns 2,670,469 shares of the industrial products company’s stock valued at $487,857,000 after acquiring an additional 493,857 shares in the last quarter. 94.17% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on AVY. Truist Financial restated a “buy” rating and issued a $249.00 price objective on shares of Avery Dennison in a report on Friday, January 19th. Citigroup lifted their price objective on Avery Dennison from $223.00 to $234.00 and gave the company a “neutral” rating in a report on Thursday. StockNews.com downgraded shares of Avery Dennison from a “buy” rating to a “hold” rating in a report on Wednesday, March 27th. Bank of America downgraded shares of Avery Dennison from a “buy” rating to an “underperform” rating and set a $208.00 target price for the company. in a report on Tuesday, January 2nd. Finally, Raymond James boosted their target price on shares of Avery Dennison from $199.00 to $225.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $221.00.

Insider Activity at Avery Dennison

In other news, 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 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 document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Chairman Mitchell R. Butier sold 8,168 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $217.36, for a total transaction of $1,775,396.48. Following the sale, the chairman now owns 321,487 shares of the company’s stock, valued at approximately $69,878,414.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 sale, the director now directly owns 5,018 shares in the company, 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 in the last three months. 1.10% of the stock is owned by company insiders.

Avery Dennison Stock Performance

NYSE AVY opened at $217.14 on Friday. The stock has a market cap of $17.48 billion, a PE ratio of 34.97, a P/E/G ratio of 3.39 and a beta of 0.90. 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 twelve month low of $158.93 and a twelve month high of $225.26. The stock has a fifty day simple moving average of $212.08 and a 200-day simple moving average of $196.88.

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

Avery Dennison Dividend Announcement

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

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.