Tredje AP fonden Has $1.61 Million Holdings in Avery Dennison Co. (NYSE:AVY)

Tredje AP fonden cut its holdings in Avery Dennison Co. (NYSE:AVY) by 50.0% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,603 shares of the industrial products company’s stock after selling 8,603 shares during the period. Tredje AP fonden’s holdings in Avery Dennison were worth $1,610,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Larson Financial Group LLC grew its stake in Avery Dennison by 100.0% during the third quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company’s stock worth $31,000 after buying an additional 71 shares in the last quarter. Peterson Financial Group Inc. acquired a new stake in Avery Dennison during the third quarter worth about $39,000. Regents Gate Capital LLP acquired a new stake in Avery Dennison during the fourth quarter worth about $37,000. Brooklyn Investment Group acquired a new stake in Avery Dennison during the third quarter worth about $66,000. Finally, Spire Wealth Management grew its stake in Avery Dennison by 76.0% during the fourth quarter. Spire Wealth Management now owns 301 shares of the industrial products company’s stock worth $56,000 after buying an additional 130 shares in the last quarter. 94.17% of the stock is currently owned by institutional investors and hedge funds.

Avery Dennison Stock Up 1.7 %

Shares of NYSE AVY opened at $178.91 on Friday. The company has a 50 day simple moving average of $185.49 and a 200 day simple moving average of $199.64. The firm has a market cap of $14.13 billion, a PE ratio of 20.52, a price-to-earnings-growth ratio of 2.07 and a beta of 0.85. Avery Dennison Co. has a 1 year low of $174.91 and a 1 year high of $233.48. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.08 and a quick ratio of 0.73.

Avery Dennison (NYSE:AVY) last released its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.39 by ($0.01). Avery Dennison had a return on equity of 33.06% and a net margin of 8.05%. On average, research analysts forecast that Avery Dennison Co. will post 9.96 EPS for the current year.

Avery Dennison Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be issued a dividend of $0.88 per share. The ex-dividend date is Wednesday, March 5th. This represents a $3.52 annualized dividend and a yield of 1.97%. Avery Dennison’s payout ratio is 40.37%.

Insiders Place Their Bets

In other Avery Dennison news, Chairman Mitchell R. Butier sold 12,969 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $181.85, for a total transaction of $2,358,412.65. Following the completion of the transaction, the chairman now owns 303,331 shares in the company, valued at approximately $55,160,742.35. This trade represents a 4.10 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

AVY has been the topic of a number of analyst reports. Citigroup reduced their price objective on shares of Avery Dennison from $228.00 to $202.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. Truist Financial restated a “buy” rating and issued a $215.00 price target (down from $245.00) on shares of Avery Dennison in a research note on Friday, January 31st. Robert W. Baird set a $220.00 price target on shares of Avery Dennison in a research note on Friday, January 31st. Raymond James restated an “outperform” rating and issued a $208.00 price target (down from $218.00) on shares of Avery Dennison in a research note on Friday, January 31st. Finally, BMO Capital Markets set a $226.00 price target on shares of Avery Dennison in a research note on Monday, February 3rd. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $222.51.

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.