American International Group Inc. Decreases Position in Avery Dennison Co. (NYSE:AVY)

American International Group Inc. decreased its stake in Avery Dennison Co. (NYSE:AVY) by 0.9% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 22,598 shares of the industrial products company’s stock after selling 210 shares during the quarter. American International Group Inc.’s holdings in Avery Dennison were worth $4,568,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Alliance Wealth Advisors LLC UT lifted its stake in shares of Avery Dennison by 1.5% in the fourth quarter. Alliance Wealth Advisors LLC UT now owns 3,840 shares of the industrial products company’s stock worth $776,000 after acquiring an additional 56 shares in the last quarter. First Trust Direct Indexing L.P. lifted its stake in shares of Avery Dennison by 5.0% in the fourth quarter. First Trust Direct Indexing L.P. now owns 1,198 shares of the industrial products company’s stock worth $242,000 after acquiring an additional 57 shares in the last quarter. Condor Capital Management lifted its stake in shares of Avery Dennison by 0.4% in the fourth quarter. Condor Capital Management now owns 13,716 shares of the industrial products company’s stock worth $2,773,000 after acquiring an additional 60 shares in the last quarter. Checchi Capital Advisers LLC raised its stake in Avery Dennison by 5.3% during the fourth quarter. Checchi Capital Advisers LLC now owns 1,228 shares of the industrial products company’s stock valued at $248,000 after buying an additional 62 shares in the last quarter. Finally, Lindbrook Capital LLC raised its stake in Avery Dennison by 11.5% during the fourth quarter. Lindbrook Capital LLC now owns 630 shares of the industrial products company’s stock valued at $127,000 after buying an additional 65 shares in the last quarter. Hedge funds and other institutional investors own 94.17% of the company’s stock.

Insider Buying and Selling at Avery Dennison

In other Avery Dennison news, CFO Gregory Lovins sold 2,894 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of $227.20, for a total transaction of $657,516.80. Following the completion of the transaction, the chief financial officer now directly owns 67,457 shares of the company’s stock, valued at approximately $15,326,230.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, SVP Ignacio J. Walker sold 2,206 shares of the stock in a transaction on Friday, June 7th. The stock was sold at an average price of $226.70, for a total transaction of $500,100.20. Following the completion of the sale, the senior vice president now owns 7,082 shares in the company, valued at approximately $1,605,489.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Gregory Lovins sold 2,894 shares of the stock in a transaction on Friday, May 10th. The shares were sold at an average price of $227.20, for a total value of $657,516.80. Following the sale, the chief financial officer now owns 67,457 shares of the company’s stock, valued at approximately $15,326,230.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,583 shares of company stock valued at $2,856,353. 1.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on AVY. Citigroup upped their price objective on Avery Dennison from $223.00 to $234.00 and gave the company a “neutral” rating in a research note on Thursday, April 4th. JPMorgan Chase & Co. upped their price objective on Avery Dennison from $218.00 to $220.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. Raymond James restated an “outperform” rating and set a $240.00 price objective (up previously from $225.00) on shares of Avery Dennison in a research note on Thursday, April 25th. Truist Financial upped their price objective on Avery Dennison from $248.00 to $253.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Finally, Robert W. Baird increased their price target on 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 assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $230.50.

Avery Dennison Stock Performance

Shares of AVY stock opened at $226.94 on Friday. Avery Dennison Co. has a 12-month low of $163.83 and a 12-month high of $230.43. The firm has a market capitalization of $18.28 billion, a price-to-earnings ratio of 33.13, a price-to-earnings-growth ratio of 2.08 and a beta of 0.91. The business has a 50 day simple moving average of $222.76 and a 200 day simple moving average of $212.40. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.87 and a quick ratio of 0.58.

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

Avery Dennison Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Wednesday, June 5th were paid a dividend of $0.88 per share. This is a positive change from Avery Dennison’s previous quarterly dividend of $0.81. This represents a $3.52 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date of this dividend was Wednesday, June 5th. Avery Dennison’s dividend payout ratio (DPR) is presently 51.39%.

Avery Dennison 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.