Fenimore Asset Management Inc Sells 468 Shares of Avery Dennison Co. (NYSE:AVY)

Fenimore Asset Management Inc lowered its position in shares of Avery Dennison Co. (NYSE:AVY) by 0.4% during the fourth quarter, HoldingsChannel reports. The fund owned 133,119 shares of the industrial products company’s stock after selling 468 shares during the quarter. Fenimore Asset Management Inc’s holdings in Avery Dennison were worth $24,911,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Geode Capital Management LLC increased its stake in shares of Avery Dennison by 8.2% in the third quarter. Geode Capital Management LLC now owns 2,088,516 shares of the industrial products company’s stock valued at $459,621,000 after buying an additional 157,754 shares during the period. Victory Capital Management Inc. grew its holdings in Avery Dennison by 6.8% during the 3rd quarter. Victory Capital Management Inc. now owns 1,416,798 shares of the industrial products company’s stock worth $312,772,000 after acquiring an additional 90,250 shares during the last quarter. World Investment Advisors LLC increased its position in Avery Dennison by 2,629.0% in the 3rd quarter. World Investment Advisors LLC now owns 91,857 shares of the industrial products company’s stock valued at $20,278,000 after acquiring an additional 88,491 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Avery Dennison by 12.4% during the third quarter. JPMorgan Chase & Co. now owns 420,232 shares of the industrial products company’s stock valued at $92,771,000 after acquiring an additional 46,390 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its holdings in shares of Avery Dennison by 72.8% during the third quarter. Robeco Institutional Asset Management B.V. now owns 96,889 shares of the industrial products company’s stock worth $21,389,000 after purchasing an additional 40,824 shares during the period. Institutional investors and hedge funds own 94.17% of the company’s stock.

Analyst Ratings Changes

AVY has been the subject of a number of recent research reports. UBS Group decreased their price objective on Avery Dennison from $235.00 to $207.00 and set a “neutral” rating for the company in a report on Friday, January 10th. Truist Financial lowered their price objective on Avery Dennison from $258.00 to $245.00 and set a “buy” rating for the company in a research report on Monday, January 6th. BMO Capital Markets reduced their target price on Avery Dennison from $252.00 to $247.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. StockNews.com downgraded shares of Avery Dennison from a “buy” rating to a “hold” rating in a research report on Thursday, October 24th. Finally, Citigroup decreased their price objective on shares of Avery Dennison from $228.00 to $202.00 and set a “neutral” rating for the company in a research report on Monday, January 6th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Avery Dennison has an average rating of “Moderate Buy” and an average price target of $235.05.

Avery Dennison Price Performance

Shares of NYSE AVY opened at $191.33 on Friday. The firm has a market capitalization of $15.37 billion, a P/E ratio of 22.97, a P/E/G ratio of 1.36 and a beta of 0.89. The firm’s 50-day moving average price is $194.09 and its 200-day moving average price is $207.06. The company has a current ratio of 0.92, a quick ratio of 0.62 and a debt-to-equity ratio of 0.85. Avery Dennison Co. has a 1-year low of $181.99 and a 1-year high of $233.48.

Avery Dennison (NYSE:AVY) last posted its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $2.32 by $0.01. The business had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.20 billion. Avery Dennison had a return on equity of 33.01% and a net margin of 7.76%. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same period in the prior year, the business earned $2.10 EPS. Equities research analysts anticipate that Avery Dennison Co. will post 9.41 earnings per share for the current fiscal year.

Insider Transactions at Avery Dennison

In other news, SVP Nicholas Colisto sold 3,679 shares of Avery Dennison stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $206.00, for a total transaction of $757,874.00. Following the completion of the transaction, the senior vice president now directly owns 7,126 shares in the company, valued at $1,467,956. This trade represents a 34.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.10% of the stock is owned by insiders.

Avery Dennison 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.