Lindenwold Advisors INC Sells 241 Shares of Avery Dennison Co. (NYSE:AVY)

by · The Markets Daily

Lindenwold Advisors INC decreased its position in Avery Dennison Co. (NYSE:AVY – Free Report) by 2.3% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 10,025 shares of the industrial products company’s stock after selling 241 shares during the period. Avery Dennison comprises approximately 1.0% of Lindenwold Advisors INC’s portfolio, making the stock its 28th biggest holding. Lindenwold Advisors INC’s holdings in Avery Dennison were worth $1,876,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in AVY. Raymond James Financial Inc. bought a new stake in Avery Dennison in the fourth quarter valued at $51,521,000. Geode Capital Management LLC boosted its holdings in 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 acquiring an additional 157,754 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Avery Dennison by 21.4% in the fourth quarter. Bank of New York Mellon Corp now owns 764,591 shares of the industrial products company’s stock valued at $143,078,000 after acquiring an additional 134,560 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Avery Dennison by 411.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 123,360 shares of the industrial products company’s stock valued at $23,084,000 after acquiring an additional 99,232 shares in the last quarter. Finally, World Investment Advisors LLC boosted its holdings in Avery Dennison by 2,629.0% in the third 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 in the last quarter. Institutional investors own 94.17% of the company’s stock.

Insiders Place Their Bets

In other Avery Dennison news, Chairman Mitchell R. Butier sold 12,969 shares of the business’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $181.85, for a total value of $2,358,412.65. Following the completion of the transaction, the chairman now owns 303,331 shares of the company’s stock, valued at approximately $55,160,742.35. The trade was a 4.10 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.10% of the stock is owned by insiders.

Avery Dennison Price Performance

AVY opened at $179.85 on Wednesday. The stock has a 50-day moving average price of $185.19 and a 200-day moving average price of $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. The firm has a market cap of $14.20 billion, a PE ratio of 20.62, a P/E/G 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.

Avery Dennison (NYSE:AVY – Get Free Report) last posted 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%. Sell-side analysts predict that Avery Dennison Co. will post 9.96 earnings per share for the current fiscal year.

Avery Dennison Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date is Wednesday, March 5th. Avery Dennison’s dividend payout ratio (DPR) is 40.37%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on AVY shares. BMO Capital Markets set a $226.00 price target on shares of Avery Dennison in a report on Monday, February 3rd. Bank of America lowered their price objective on Avery Dennison from $238.00 to $220.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Truist Financial reissued a “buy” rating and set a $215.00 price objective (down previously from $245.00) on shares of Avery Dennison in a research report on Friday, January 31st. Citigroup lowered their price objective on Avery Dennison from $228.00 to $202.00 and set a “neutral” rating for the company in a research report on Monday, January 6th. Finally, JPMorgan Chase & Co. raised Avery Dennison from a “neutral” rating to an “overweight” rating and lowered their price objective for the company from $210.00 to $205.00 in a research report on Friday, January 31st. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $222.51.

Check Out Our Latest Analysis on AVY

About Avery Dennison

(Free Report)

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.

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