Carnegie Capital Asset Management LLC Has $347,000 Position in Avery Dennison Co. (NYSE:AVY)

Carnegie Capital Asset Management LLC lifted its holdings in Avery Dennison Co. (NYSE:AVY) by 18.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,715 shares of the industrial products company’s stock after buying an additional 265 shares during the quarter. Carnegie Capital Asset Management LLC’s holdings in Avery Dennison were worth $347,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vontobel Holding Ltd. grew its position in shares of Avery Dennison by 5.8% in the 4th quarter. Vontobel Holding Ltd. now owns 4,704 shares of the industrial products company’s stock valued at $951,000 after purchasing an additional 258 shares during the period. Crumly & Associates Inc. acquired a new position in shares of Avery Dennison in the 4th quarter valued at approximately $445,000. Louisiana State Employees Retirement System bought a new stake in Avery Dennison in the 4th quarter valued at approximately $991,000. NewEdge Wealth LLC bought a new stake in Avery Dennison in the 4th quarter valued at approximately $243,000. Finally, Sapient Capital LLC bought a new stake in Avery Dennison in the 4th quarter valued at approximately $209,000. 94.17% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have commented on AVY shares. Raymond James boosted their target price on Avery Dennison from $199.00 to $225.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Truist Financial restated a “buy” rating and issued a $249.00 target price on shares of Avery Dennison in a research note on Friday, January 19th. UBS Group boosted their target price on Avery Dennison from $225.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, January 11th. JPMorgan Chase & Co. boosted their target price on Avery Dennison from $185.00 to $218.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st. Finally, Bank of America cut Avery Dennison from a “buy” rating to an “underperform” rating and set a $208.00 price objective on the stock. in a research note on Tuesday, January 2nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $221.00.

Insider Buying and Selling at Avery Dennison

In other Avery Dennison news, Chairman Mitchell R. Butier sold 8,168 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $217.36, for a total value of $1,775,396.48. Following the transaction, the chairman now directly owns 321,487 shares of the company’s stock, valued at approximately $69,878,414.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, SVP Ignacio J. Walker sold 5,000 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $213.90, for a total transaction of $1,069,500.00. Following the sale, the senior vice president now directly owns 6,102 shares of the company’s stock, valued at approximately $1,305,217.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman Mitchell R. Butier sold 8,168 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $217.36, for a total value of $1,775,396.48. Following the sale, the chairman now directly owns 321,487 shares in the company, valued at $69,878,414.32. The disclosure for this sale can be found here. Insiders have sold a total of 19,879 shares of company stock valued at $4,217,705 in the last ninety days. 1.10% of the stock is currently owned by corporate insiders.

Avery Dennison Stock Down 1.0 %

AVY opened at $208.92 on Thursday. Avery Dennison Co. has a 1-year low of $158.93 and a 1-year high of $225.26. The stock’s fifty day simple moving average is $214.71 and its 200 day simple moving average is $198.99. The company has a current ratio of 1.04, a quick ratio of 0.69 and a debt-to-equity ratio of 1.23. The stock has a market cap of $16.82 billion, a PE ratio of 33.64, a price-to-earnings-growth ratio of 3.25 and a beta of 0.90.

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

Avery Dennison Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, March 6th were issued a $0.81 dividend. This represents a $3.24 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date of this dividend was Tuesday, March 5th. Avery Dennison’s dividend payout ratio is 52.17%.

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.