Sabal Trust CO Purchases Shares of 1,000 Avery Dennison Co. (NYSE:AVY)

Sabal Trust CO acquired a new position in Avery Dennison Co. (NYSE:AVY) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,000 shares of the industrial products company’s stock, valued at approximately $202,000.

Other institutional investors have also recently modified their holdings of the company. AEGON ASSET MANAGEMENT UK Plc purchased a new position in shares of Avery Dennison during the fourth quarter worth approximately $2,715,000. Assenagon Asset Management S.A. lifted its stake in shares of Avery Dennison by 192.2% in the 4th quarter. Assenagon Asset Management S.A. now owns 10,713 shares of the industrial products company’s stock valued at $2,166,000 after acquiring an additional 7,047 shares during the last quarter. Janney Montgomery Scott LLC grew its position in Avery Dennison by 736.1% during the 3rd quarter. Janney Montgomery Scott LLC now owns 142,766 shares of the industrial products company’s stock worth $26,080,000 after acquiring an additional 125,691 shares during the last quarter. Nordea Investment Management AB increased its stake in Avery Dennison by 4.8% in the 4th quarter. Nordea Investment Management AB now owns 5,902 shares of the industrial products company’s stock worth $1,196,000 after purchasing an additional 268 shares during the period. Finally, Boston Trust Walden Corp increased its stake in Avery Dennison by 1.4% in the 4th quarter. Boston Trust Walden Corp now owns 271,198 shares of the industrial products company’s stock worth $54,825,000 after purchasing an additional 3,852 shares during the period. 94.17% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on AVY shares. JPMorgan Chase & Co. lifted their target price on shares of Avery Dennison from $185.00 to $218.00 and gave the stock an “overweight” rating in a research note on Thursday, February 1st. Bank of America cut Avery Dennison from a “buy” rating to an “underperform” rating and set a $208.00 price objective for the company. in a report on Tuesday, January 2nd. StockNews.com lowered Avery Dennison from a “buy” rating to a “hold” rating in a research note on Wednesday, March 27th. Truist Financial reissued a “buy” rating and set a $249.00 price objective on shares of Avery Dennison in a research report on Friday, January 19th. Finally, Raymond James lifted their price objective on Avery Dennison from $199.00 to $225.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $221.00.

Insider Activity

In other news, insider Ryan D. Yost sold 1,400 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $213.29, for a total value of $298,606.00. Following the transaction, the insider now directly owns 2,843 shares in the company, valued at $606,383.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Avery Dennison news, Chairman Mitchell R. Butier sold 8,168 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $217.36, for a total value of $1,775,396.48. Following the transaction, the chairman now owns 321,487 shares of the company’s stock, valued at approximately $69,878,414.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ryan D. Yost sold 1,400 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $213.29, for a total transaction of $298,606.00. Following the transaction, the insider now directly owns 2,843 shares in the company, valued at $606,383.47. The disclosure for this sale can be found here. Insiders sold a total of 19,879 shares of company stock valued at $4,217,705 in the last 90 days. Company insiders own 1.10% of the company’s stock.

Avery Dennison Stock Up 0.4 %

Avery Dennison stock traded up $0.97 during mid-day trading on Friday, reaching $218.11. The stock had a trading volume of 360,949 shares, compared to its average volume of 369,006. Avery Dennison Co. has a one year low of $158.93 and a one year high of $225.26. The company has a 50-day moving average price of $212.42 and a two-hundred day moving average price of $197.24. The company has a market capitalization of $17.56 billion, a price-to-earnings ratio of 35.12, a PEG ratio of 3.36 and a beta of 0.90. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.04 and a quick ratio of 0.69.

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

Avery Dennison Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, March 6th were issued a $0.81 dividend. This represents a $3.24 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date of this dividend was Tuesday, March 5th. Avery Dennison’s payout ratio is 52.17%.

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.