Cwm LLC Trims Position in Avery Dennison Co. (NYSE:AVY)

Cwm LLC decreased its position in shares of Avery Dennison Co. (NYSE:AVY) by 22.3% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 3,505 shares of the industrial products company’s stock after selling 1,004 shares during the period. Cwm LLC’s holdings in Avery Dennison were worth $783,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Nomura Holdings Inc. purchased a new position in shares of Avery Dennison during the fourth quarter valued at approximately $330,000. HighPoint Advisor Group LLC acquired a new position in Avery Dennison during the fourth quarter worth approximately $219,000. Walden Wealth Partners LLC acquired a new position in Avery Dennison during the fourth quarter worth approximately $286,000. Royal London Asset Management Ltd. increased its position in Avery Dennison by 1.8% during the fourth quarter. Royal London Asset Management Ltd. now owns 31,647 shares of the industrial products company’s stock worth $6,398,000 after purchasing an additional 545 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its position in Avery Dennison by 31.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 645,721 shares of the industrial products company’s stock worth $130,539,000 after purchasing an additional 156,189 shares during the last quarter. Hedge funds and other institutional investors own 94.17% of the company’s stock.

Insider Activity at Avery Dennison

In other Avery Dennison news, insider Ryan D. Yost sold 584 shares of the stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $221.31, for a total transaction of $129,245.04. Following the transaction, the insider now directly owns 2,259 shares in the company, valued at approximately $499,939.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Avery Dennison news, insider Ryan D. Yost sold 584 shares of the stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $221.31, for a total transaction of $129,245.04. Following the transaction, the insider now directly owns 2,259 shares in the company, valued at approximately $499,939.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Deena Baker-Nel sold 3,000 shares of the stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $228.17, for a total transaction of $684,510.00. Following the transaction, the senior vice president now owns 1,577 shares in the company, valued at $359,824.09. The disclosure for this sale can be found here. In the last three months, insiders sold 12,583 shares of company stock valued at $2,856,353. Corporate insiders own 1.10% of the company’s stock.

Avery Dennison Price Performance

AVY opened at $226.00 on Friday. The company has a fifty day simple moving average of $222.45 and a 200 day simple moving average of $212.05. The firm has a market cap of $18.20 billion, a price-to-earnings ratio of 32.99, a PEG ratio of 2.09 and a beta of 0.91. Avery Dennison Co. has a twelve month low of $163.83 and a twelve month high of $230.43. The company has a current ratio of 0.87, a quick ratio of 0.58 and a debt-to-equity ratio of 0.94.

Avery Dennison (NYSE:AVY) last released its quarterly earnings results on Wednesday, April 24th. The industrial products company reported $2.29 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.14. The business had revenue of $2.15 billion during the quarter, compared to analyst estimates of $2.15 billion. Avery Dennison had a net margin of 6.56% and a return on equity of 32.59%. Equities research analysts expect that Avery Dennison Co. will post 9.32 EPS for the current fiscal year.

Avery Dennison Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Wednesday, June 5th were issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.56%. This is a positive change from Avery Dennison’s previous quarterly dividend of $0.81. The ex-dividend date was Wednesday, June 5th. Avery Dennison’s dividend payout ratio (DPR) is presently 51.39%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Truist Financial upped their price target on shares of Avery Dennison from $248.00 to $253.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. StockNews.com raised shares of Avery Dennison from a “hold” rating to a “buy” rating in a research report on Monday, April 22nd. Raymond James reaffirmed an “outperform” rating and set a $240.00 price target (up previously from $225.00) on shares of Avery Dennison in a research report on Thursday, April 25th. Citigroup increased their price objective on shares of Avery Dennison from $223.00 to $234.00 and gave the stock a “neutral” rating in a research report on Thursday, April 4th. Finally, Robert W. Baird increased their price objective on shares of Avery Dennison from $230.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, June 7th. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Avery Dennison currently has an average rating of “Moderate Buy” and an average price target of $230.50.

About Avery Dennison

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.