Avery Dennison Co. (NYSE:AVY) Stock Position Lowered by Trillium Asset Management LLC

Trillium Asset Management LLC lessened its position in Avery Dennison Co. (NYSE:AVY) by 9.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 72,084 shares of the industrial products company’s stock after selling 7,123 shares during the period. Trillium Asset Management LLC owned approximately 0.09% of Avery Dennison worth $13,489,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Greenleaf Trust raised its stake in shares of Avery Dennison by 4.4% in the 4th quarter. Greenleaf Trust now owns 1,352 shares of the industrial products company’s stock worth $253,000 after buying an additional 57 shares in the last quarter. AdvisorNet Financial Inc raised its stake in shares of Avery Dennison by 18.8% in the 4th quarter. AdvisorNet Financial Inc now owns 367 shares of the industrial products company’s stock worth $69,000 after buying an additional 58 shares in the last quarter. HBK Sorce Advisory LLC raised its stake in shares of Avery Dennison by 0.5% in the 4th quarter. HBK Sorce Advisory LLC now owns 11,862 shares of the industrial products company’s stock worth $2,220,000 after buying an additional 58 shares in the last quarter. Lindenwold Advisors INC raised its stake in shares of Avery Dennison by 0.6% in the 3rd quarter. Lindenwold Advisors INC now owns 10,266 shares of the industrial products company’s stock worth $2,266,000 after buying an additional 59 shares in the last quarter. Finally, Cynosure Group LLC raised its stake in shares of Avery Dennison by 3.6% in the 3rd quarter. Cynosure Group LLC now owns 1,712 shares of the industrial products company’s stock worth $378,000 after buying an additional 59 shares in the last quarter. Institutional investors own 94.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AVY. Barclays cut their target price on Avery Dennison from $245.00 to $225.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. JPMorgan Chase & Co. raised Avery Dennison from a “neutral” rating to an “overweight” rating and cut their target price for the stock from $210.00 to $205.00 in a research report on Friday, January 31st. Bank of America cut their target price on Avery Dennison from $238.00 to $220.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Raymond James reaffirmed an “outperform” rating and set a $208.00 target price (down from $218.00) on shares of Avery Dennison in a research report on Friday, January 31st. Finally, Truist Financial reaffirmed a “buy” rating and set a $215.00 target price (down from $245.00) on shares of Avery Dennison in a research report on Friday, January 31st. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $222.51.

Insider Transactions at Avery Dennison

In other news, Chairman Mitchell R. Butier sold 12,969 shares of the company’s stock in a transaction dated 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 completion of the sale, the chairman now owns 303,331 shares in the company, valued at approximately $55,160,742.35. This represents a 4.10 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.10% of the stock is currently owned by corporate insiders.

Avery Dennison Stock Performance

Shares of NYSE AVY opened at $179.85 on Wednesday. The business’s 50-day moving average price is $185.19 and its two-hundred day moving average price is $198.81. 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 Co. has a one year low of $174.91 and a one year high of $233.48. The company has a market capitalization of $14.20 billion, a P/E ratio of 20.62, a price-to-earnings-growth ratio of 2.07 and a beta of 0.85.

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

Avery Dennison Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be paid a dividend of $0.88 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $3.52 annualized dividend and a dividend yield of 1.96%. Avery Dennison’s dividend payout ratio (DPR) is presently 40.37%.

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.