Custom Index Systems LLC Purchases New Holdings in Avery Dennison Co. (NYSE:AVY)

Custom Index Systems LLC bought a new position in Avery Dennison Co. (NYSE:AVY) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm bought 2,028 shares of the industrial products company’s stock, valued at approximately $410,000.

Other institutional investors have also bought and sold shares of the company. New York Life Investment Management LLC raised its position in shares of Avery Dennison by 0.5% during the 3rd quarter. New York Life Investment Management LLC now owns 11,454 shares of the industrial products company’s stock valued at $2,092,000 after buying an additional 58 shares during the period. Signaturefd LLC raised its position in shares of Avery Dennison by 25.5% during the 3rd quarter. Signaturefd LLC now owns 300 shares of the industrial products company’s stock valued at $55,000 after buying an additional 61 shares during the period. Advisor Partners II LLC raised its position in shares of Avery Dennison by 1.9% during the 3rd quarter. Advisor Partners II LLC now owns 3,342 shares of the industrial products company’s stock valued at $610,000 after buying an additional 63 shares during the period. Yousif Capital Management LLC raised its position in shares of Avery Dennison by 0.5% during the 1st quarter. Yousif Capital Management LLC now owns 12,732 shares of the industrial products company’s stock valued at $2,215,000 after buying an additional 65 shares during the period. Finally, IFP Advisors Inc raised its position in shares of Avery Dennison by 56.3% during the 2nd quarter. IFP Advisors Inc now owns 200 shares of the industrial products company’s stock valued at $34,000 after buying an additional 72 shares during the period. 94.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on AVY. Citigroup lifted their target price on shares of Avery Dennison from $223.00 to $234.00 and gave the company a “neutral” rating in a report on Thursday, April 4th. Raymond James lifted their target price on shares of Avery Dennison from $199.00 to $225.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. JPMorgan Chase & Co. lifted their target price on shares of Avery Dennison from $185.00 to $218.00 and gave the company an “overweight” rating in a report on Thursday, February 1st. UBS Group lifted their target price on shares of Avery Dennison from $225.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, January 11th. Finally, Truist Financial restated a “buy” rating and issued a $249.00 price target on shares of Avery Dennison in a research note on Friday, January 19th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $221.00.

Avery Dennison Price Performance

Shares of NYSE:AVY opened at $215.52 on Thursday. The company has a 50-day simple moving average of $213.47 and a 200-day simple moving average of $198.00. Avery Dennison Co. has a one year low of $158.93 and a one year high of $225.26. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.69 and a current ratio of 1.04. The stock has a market capitalization of $17.35 billion, a price-to-earnings ratio of 34.71, a PEG ratio of 3.36 and a beta of 0.90.

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

Avery Dennison Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, March 6th were given a dividend of $0.81 per share. This represents a $3.24 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date of this dividend was Tuesday, March 5th. Avery Dennison’s dividend payout ratio is presently 52.17%.

Insider Buying and Selling

In related news, Chairman Mitchell R. Butier sold 8,168 shares of Avery Dennison stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $217.36, for a total transaction of $1,775,396.48. Following the completion of the sale, the chairman now owns 321,487 shares in the company, valued at approximately $69,878,414.32. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Avery Dennison news, SVP Ignacio J. Walker sold 5,000 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $213.90, for a total value of $1,069,500.00. Following the sale, the senior vice president now directly owns 6,102 shares of the company’s stock, valued at approximately $1,305,217.80. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Mitchell R. Butier sold 8,168 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chairman now directly owns 321,487 shares in the company, valued at $69,878,414.32. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,879 shares of company stock worth $4,217,705. 1.10% of the stock is owned by corporate insiders.

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.