City Holding Co. Has $1.55 Million Stock Holdings in Avery Dennison Co. (NYSE:AVY)

City Holding Co. lifted its holdings in shares of Avery Dennison Co. (NYSE:AVY) by 5.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,932 shares of the industrial products company’s stock after purchasing an additional 329 shares during the quarter. City Holding Co.’s holdings in Avery Dennison were worth $1,548,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Alliance Wealth Advisors LLC UT grew its holdings in Avery Dennison by 1.5% during the fourth quarter. Alliance Wealth Advisors LLC UT now owns 3,840 shares of the industrial products company’s stock valued at $776,000 after purchasing an additional 56 shares during the last quarter. First Trust Direct Indexing L.P. increased 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 purchasing an additional 57 shares during the period. Condor Capital Management lifted its holdings in shares of Avery Dennison by 0.4% during the fourth quarter. Condor Capital Management now owns 13,716 shares of the industrial products company’s stock worth $2,773,000 after buying an additional 60 shares during the last quarter. Checchi Capital Advisers LLC raised its stake in Avery Dennison by 5.3% during the 4th quarter. Checchi Capital Advisers LLC now owns 1,228 shares of the industrial products company’s stock valued at $248,000 after purchasing an additional 62 shares during the last quarter. Finally, Czech National Bank lifted its stake in shares of Avery Dennison by 0.5% in the first quarter. Czech National Bank now owns 14,169 shares of the industrial products company’s stock valued at $3,163,000 after buying an additional 64 shares during the period. Institutional investors own 94.17% of the company’s stock.

Avery Dennison Price Performance

Shares of Avery Dennison stock traded up $2.86 during midday trading on Monday, reaching $229.80. The company had a trading volume of 47,290 shares, compared to its average volume of 436,987. The company has a current ratio of 0.87, a quick ratio of 0.58 and a debt-to-equity ratio of 0.94. The stock has a fifty day simple moving average of $222.76 and a 200 day simple moving average of $212.53. Avery Dennison Co. has a 1-year low of $163.83 and a 1-year high of $231.53. The company has a market capitalization of $18.51 billion, a price-to-earnings ratio of 33.13, a price-to-earnings-growth ratio of 2.08 and a beta of 0.91.

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

Avery Dennison Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Wednesday, June 5th were given a dividend of $0.88 per share. This is a boost from Avery Dennison’s previous quarterly dividend of $0.81. The ex-dividend date was Wednesday, June 5th. This represents a $3.52 annualized dividend and a dividend yield of 1.53%. Avery Dennison’s payout ratio is currently 51.39%.

Analyst Ratings Changes

A number of research firms have recently commented on AVY. Robert W. Baird raised their price objective on shares of Avery Dennison from $230.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, June 7th. Truist Financial increased their target price 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. Raymond James restated an “outperform” rating and issued a $240.00 price target (up from $225.00) on shares of Avery Dennison in a research report on Thursday, April 25th. StockNews.com raised shares of Avery Dennison from a “hold” rating to a “buy” rating in a report on Monday, April 22nd. Finally, Citigroup boosted their target price on Avery Dennison from $223.00 to $234.00 and gave the stock a “neutral” rating in a report on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Avery Dennison has a consensus rating of “Moderate Buy” and a consensus price target of $230.50.

Insider Buying and Selling

In other news, insider Ryan D. Yost sold 584 shares of the firm’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $221.31, for a total value 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Avery Dennison news, insider Francisco Melo sold 3,750 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $227.00, for a total value of $851,250.00. Following the completion of the sale, the insider now owns 15,230 shares of the company’s stock, valued at $3,457,210. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ryan D. Yost sold 584 shares of the stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $221.31, for a total transaction of $129,245.04. Following the completion of the sale, the insider now owns 2,259 shares in the company, valued at $499,939.29. The disclosure for this sale can be found here. Insiders sold a total of 12,583 shares of company stock valued at $2,856,353 over the last ninety days. Insiders own 1.10% of the company’s stock.

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.