Dupont Capital Management Corp Reduces Holdings in Avery Dennison Co. (NYSE:AVY)

Dupont Capital Management Corp decreased its holdings in shares of Avery Dennison Co. (NYSE:AVY) by 2.5% during the fourth quarter, Holdings Channel.com reports. The fund owned 42,855 shares of the industrial products company’s stock after selling 1,115 shares during the period. Dupont Capital Management Corp’s holdings in Avery Dennison were worth $8,664,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Oak Thistle LLC grew its stake in shares of Avery Dennison by 32.2% during the fourth quarter. Oak Thistle LLC now owns 2,075 shares of the industrial products company’s stock worth $419,000 after acquiring an additional 506 shares during the last quarter. Essex Savings Bank boosted its position in Avery Dennison by 5.5% in the fourth quarter. Essex Savings Bank now owns 1,933 shares of the industrial products company’s stock valued at $391,000 after buying an additional 101 shares during the last quarter. Fifth Third Bancorp boosted its position in Avery Dennison by 22.5% in the fourth quarter. Fifth Third Bancorp now owns 3,309 shares of the industrial products company’s stock valued at $669,000 after buying an additional 608 shares during the last quarter. Gradient Investments LLC boosted its position in Avery Dennison by 2.3% in the fourth quarter. Gradient Investments LLC now owns 52,064 shares of the industrial products company’s stock valued at $10,525,000 after buying an additional 1,146 shares during the last quarter. Finally, Blue Trust Inc. boosted its position in Avery Dennison by 3.8% in the fourth quarter. Blue Trust Inc. now owns 2,065 shares of the industrial products company’s stock valued at $417,000 after buying an additional 76 shares during the last quarter. Hedge funds and other institutional investors own 94.17% of the company’s stock.

Wall Street Analysts Forecast Growth

AVY has been the topic of a number of recent research reports. Bank of America lowered Avery Dennison from a “buy” rating to an “underperform” rating and set a $208.00 target price on the stock. in a research report on Tuesday, January 2nd. Raymond James upped their target price on Avery Dennison from $199.00 to $225.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Truist Financial reissued a “buy” rating and issued a $249.00 price target on shares of Avery Dennison in a report on Friday, January 19th. JPMorgan Chase & Co. boosted their price target on Avery Dennison from $185.00 to $218.00 and gave the company an “overweight” rating in a report on Thursday, February 1st. Finally, UBS Group boosted their price target on Avery Dennison from $225.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, January 11th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $218.78.

Avery Dennison Trading Down 1.4 %

Shares of AVY stock opened at $220.37 on Wednesday. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.04 and a quick ratio of 0.69. The company has a market cap of $17.74 billion, a price-to-earnings ratio of 35.49, a PEG ratio of 3.44 and a beta of 0.90. The stock has a 50 day simple moving average of $211.29 and a 200-day simple moving average of $196.57. Avery Dennison Co. has a 1-year low of $158.93 and a 1-year high of $225.26.

Avery Dennison (NYSE:AVY) last posted its quarterly earnings data on Wednesday, January 31st. The industrial products company reported $2.16 EPS for the quarter, meeting the consensus estimate of $2.16. Avery Dennison had a return on equity of 30.97% and a net margin of 6.01%. The firm had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.10 billion. During the same period in the prior year, the company earned $1.65 EPS. The firm’s revenue was up 4.2% compared to the same quarter last year. On average, equities research analysts expect that Avery Dennison Co. will post 9.28 EPS for the current fiscal year.

Avery Dennison Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, March 6th were issued a $0.81 dividend. This represents a $3.24 annualized dividend and a yield of 1.47%. The ex-dividend date of this dividend was Tuesday, March 5th. Avery Dennison’s payout ratio is currently 52.17%.

Insider Buying and Selling at Avery Dennison

In other Avery Dennison news, Director Julia A. Stewart sold 5,311 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $202.26, for a total value of $1,074,202.86. Following the completion of the sale, the director now directly owns 5,018 shares in the company, valued at approximately $1,014,940.68. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Avery Dennison news, Director Julia A. Stewart sold 5,311 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $202.26, for a total value of $1,074,202.86. Following the completion of the sale, the director now directly owns 5,018 shares in the company, valued at approximately $1,014,940.68. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Ignacio J. Walker sold 5,000 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $213.90, for a total value of $1,069,500.00. Following the completion of the sale, the senior vice president now owns 6,102 shares of the company’s stock, valued at $1,305,217.80. The disclosure for this sale can be found here. Insiders sold a total of 19,879 shares of company stock worth $4,217,705 in the last three months. 1.10% of the stock is owned by corporate insiders.

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.