Strategic Investment Advisors MI Boosts Holdings in Avery Dennison Co. (NYSE:AVY)


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Strategic Investment Advisors MI increased its holdings in Avery Dennison Co. (NYSE:AVY) by 6.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,040 shares of the industrial products company’s stock after buying an additional 115 shares during the quarter. Strategic Investment Advisors MI’s holdings in Avery Dennison were worth $316,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Ellevest Inc. boosted its holdings in shares of Avery Dennison by 29.1% in the third quarter. Ellevest Inc. now owns 346 shares of the industrial products company’s stock worth $44,000 after buying an additional 78 shares during the last quarter. First Hawaiian Bank lifted its holdings in Avery Dennison by 1.1% during the third quarter. First Hawaiian Bank now owns 8,839 shares of the industrial products company’s stock valued at $1,130,000 after purchasing an additional 93 shares in the last quarter. Norinchukin Bank The lifted its holdings in Avery Dennison by 1.4% during the third quarter. Norinchukin Bank The now owns 6,991 shares of the industrial products company’s stock valued at $894,000 after purchasing an additional 95 shares in the last quarter. Hummer Financial Advisory Services Inc lifted its holdings in Avery Dennison by 3.1% during the third quarter. Hummer Financial Advisory Services Inc now owns 3,310 shares of the industrial products company’s stock valued at $423,000 after purchasing an additional 100 shares in the last quarter. Finally, Taylor Frigon Capital Management LLC lifted its holdings in Avery Dennison by 1.8% during the third quarter. Taylor Frigon Capital Management LLC now owns 5,841 shares of the industrial products company’s stock valued at $747,000 after purchasing an additional 103 shares in the last quarter. 89.04% of the stock is currently owned by institutional investors.

Shares of AVY opened at $162.93 on Thursday. The company’s fifty day moving average is $153.52 and its 200 day moving average is $132.65. Avery Dennison Co. has a fifty-two week low of $76.96 and a fifty-two week high of $164.11. The stock has a market capitalization of $13.59 billion, a PE ratio of 26.03, a P/E/G ratio of 3.21 and a beta of 0.95. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.94 and a current ratio of 1.31.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings results on Wednesday, October 21st. The industrial products company reported $1.91 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.41. Avery Dennison had a net margin of 7.80% and a return on equity of 44.88%. The company had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.67 billion. During the same quarter in the previous year, the business posted $1.66 earnings per share. Avery Dennison’s quarterly revenue was down 1.8% on a year-over-year basis. As a group, research analysts forecast that Avery Dennison Co. will post 6.92 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 16th. Shareholders of record on Wednesday, December 2nd were given a dividend of $0.62 per share. This is a boost from Avery Dennison’s previous quarterly dividend of $0.58. The ex-dividend date was Tuesday, December 1st. This represents a $2.48 dividend on an annualized basis and a yield of 1.52%. Avery Dennison’s payout ratio is 37.58%.

In other Avery Dennison news, VP Anne Hill sold 11,427 shares of the business’s stock in a transaction on Friday, October 23rd. The shares were sold at an average price of $141.53, for a total transaction of $1,617,263.31. Following the transaction, the vice president now owns 17,649 shares in the company, valued at $2,497,862.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Peter K. Barker sold 10,982 shares of the business’s stock in a transaction on Friday, October 23rd. The shares were sold at an average price of $142.60, for a total transaction of $1,566,033.20. Following the transaction, the director now owns 37,478 shares in the company, valued at approximately $5,344,362.80. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

Several brokerages have weighed in on AVY. Zacks Investment Research downgraded shares of Avery Dennison from a “buy” rating to a “hold” rating and set a $161.00 price target on the stock. in a report on Thursday, December 24th. Loop Capital lifted their price target on shares of Avery Dennison from $136.00 to $164.00 and gave the company a “buy” rating in a report on Friday, October 23rd. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised shares of Avery Dennison from a “neutral” rating to a “buy” rating and lifted their price target for the company from $149.00 to $181.00 in a report on Thursday, January 7th. Smith Barney Citigroup reiterated a “buy” rating on shares of Avery Dennison in a research report on Thursday, January 7th. Finally, UBS Group lifted their price objective on shares of Avery Dennison from $150.00 to $178.00 and gave the company a “buy” rating in a research report on Wednesday, December 9th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the stock. Avery Dennison currently has an average rating of “Buy” and a consensus target price of $157.15.

About Avery Dennison

Avery Dennison Corporation produces and sells pressure-sensitive materials worldwide. The company's Label and Graphic Materials segment offers pressure-sensitive label and packaging materials; and graphics and reflective products under the Fasson, JAC, Avery Dennison, and Mactac brands, as well as durable cast and reflective films.

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Institutional Ownership by Quarter for Avery Dennison (NYSE:AVY)

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