Integrated Advisors Network LLC Sells 1,963 Shares of Avery Dennison Co. (NYSE:AVY)

Posted by Defense World Staff on Apr 23rd, 2023

Integrated Advisors Network LLC lessened its position in Avery Dennison Co. (NYSE:AVY – Get Rating) by 57.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,439 shares of the industrial products company’s stock after selling 1,963 shares during the quarter. Integrated Advisors Network LLC’s holdings in Avery Dennison were worth $260,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of AVY. Lazard Asset Management LLC raised its holdings in Avery Dennison by 48.0% in the 1st quarter. Lazard Asset Management LLC now owns 1,748,006 shares of the industrial products company’s stock worth $304,099,000 after acquiring an additional 566,938 shares during the period. Congress Asset Management Co. MA grew its position in Avery Dennison by 3,901.0% in the 4th quarter. Congress Asset Management Co. MA now owns 579,627 shares of the industrial products company’s stock worth $104,913,000 after purchasing an additional 565,140 shares during the last quarter. Boston Partners grew its position in Avery Dennison by 66.8% in the 3rd quarter. Boston Partners now owns 907,608 shares of the industrial products company’s stock worth $147,675,000 after purchasing an additional 363,404 shares during the last quarter. Nuveen Asset Management LLC grew its position in Avery Dennison by 47.8% in the 3rd quarter. Nuveen Asset Management LLC now owns 654,486 shares of the industrial products company’s stock worth $106,485,000 after purchasing an additional 211,535 shares during the last quarter. Finally, Lord Abbett & CO. LLC grew its position in Avery Dennison by 16.9% in the 3rd quarter. Lord Abbett & CO. LLC now owns 1,124,442 shares of the industrial products company’s stock worth $182,947,000 after purchasing an additional 162,364 shares during the last quarter. Institutional investors own 89.05% of the company’s stock.

Avery Dennison Price Performance

NYSE:AVY opened at $178.09 on Friday. The firm has a market cap of $14.44 billion, a PE ratio of 19.34, a price-to-earnings-growth ratio of 2.75 and a beta of 0.95. Avery Dennison Co. has a 12 month low of $151.62 and a 12 month high of $204.37. The company has a quick ratio of 0.63, a current ratio of 0.99 and a debt-to-equity ratio of 1.23. The company’s 50-day moving average price is $177.31 and its two-hundred day moving average price is $180.06.

Avery Dennison (NYSE:AVY – Get Rating) last released its quarterly earnings results on Thursday, February 2nd. The industrial products company reported $1.65 EPS for the quarter, missing analysts’ consensus estimates of $2.10 by ($0.45). The firm had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.17 billion. Avery Dennison had a net margin of 8.38% and a return on equity of 38.05%. Avery Dennison’s quarterly revenue was down 7.2% on a year-over-year basis. During the same quarter last year, the firm earned $2.13 earnings per share. On average, equities analysts anticipate that Avery Dennison Co. will post 9.25 EPS for the current fiscal year.

Avery Dennison Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 15th. Shareholders of record on Wednesday, March 1st were paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date was Tuesday, February 28th. Avery Dennison’s dividend payout ratio is presently 32.57%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Raymond James raised their price target on shares of Avery Dennison from $190.00 to $205.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 25th. Truist Financial decreased their target price on shares of Avery Dennison from $229.00 to $223.00 and set a “buy” rating on the stock in a research report on Friday, February 3rd. BMO Capital Markets decreased their target price on shares of Avery Dennison from $240.00 to $233.00 and set an “outperform” rating on the stock in a research report on Monday, February 6th. Citigroup lifted their target price on shares of Avery Dennison from $204.00 to $216.00 in a research report on Wednesday, January 4th. Finally, StockNews.com began coverage on shares of Avery Dennison in a research report on Thursday, March 16th. They set a “hold” rating on the stock. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $210.13.

Insiders Place Their Bets

In other Avery Dennison news, SVP Nicholas Colisto sold 3,842 shares of the business’s stock in a transaction dated Thursday, March 2nd. The shares were sold at an average price of $180.43, for a total value of $693,212.06. Following the completion of the transaction, the senior vice president now directly owns 7,978 shares of the company’s stock, valued at $1,439,470.54. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Avery Dennison news, SVP Nicholas Colisto sold 3,842 shares of the business’s stock in a transaction dated Thursday, March 2nd. The shares were sold at an average price of $180.43, for a total value of $693,212.06. Following the completion of the transaction, the senior vice president now directly owns 7,978 shares of the company’s stock, valued at $1,439,470.54. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Andres Alberto Lopez sold 5,800 shares of the business’s stock in a transaction dated Friday, March 3rd. The stock was sold at an average price of $182.00, for a total transaction of $1,055,600.00. Following the completion of the transaction, the director now directly owns 1,315 shares of the company’s stock, valued at $239,330. The disclosure for this sale can be found here. Over the last three months, insiders sold 10,458 shares of company stock valued at $1,898,948. Insiders own 1.10% of the company’s stock.

Avery Dennison Company Profile

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Avery Dennison Corp. engages in the provision of labeling and packaging materials and solutions. It operates through the Materials and Solutions Group segments. The Materials Group segment manufactures and sells pressure-sensitive label materials, films for graphic and reflective products, performance tapes and other adhesive products for industrial, medical and other applications, as well as fastener solutions.

Institutional Ownership by Quarter for Avery Dennison (NYSE:AVY)

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