Edgestream Partners L.P. Boosts Holdings in Avery Dennison Co. (NYSE:AVY)

Edgestream Partners L.P. grew its stake in shares of Avery Dennison Co. (NYSE:AVY) by 153.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 21,310 shares of the industrial products company’s stock after purchasing an additional 12,886 shares during the period. Edgestream Partners L.P.’s holdings in Avery Dennison were worth $3,988,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Larson Financial Group LLC boosted its position in shares of Avery Dennison by 100.0% during the 3rd quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 71 shares in the last quarter. Kennebec Savings Bank purchased a new stake in shares of Avery Dennison during the 3rd quarter worth $36,000. Regents Gate Capital LLP purchased a new stake in shares of Avery Dennison during the 4th quarter worth $37,000. Peterson Financial Group Inc. purchased a new stake in shares of Avery Dennison during the 3rd quarter worth $39,000. Finally, Spire Wealth Management boosted its position in shares of Avery Dennison by 76.0% during the 4th quarter. Spire Wealth Management now owns 301 shares of the industrial products company’s stock worth $56,000 after purchasing an additional 130 shares in the last quarter. 94.17% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on AVY shares. Robert W. Baird set a $220.00 price objective on shares of Avery Dennison in a research report on Friday, January 31st. Truist Financial reiterated a “buy” rating and issued a $215.00 price objective (down from $245.00) on shares of Avery Dennison in a research report on Friday, January 31st. Citigroup decreased their price objective on shares of Avery Dennison from $228.00 to $202.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. Raymond James reiterated an “outperform” rating and issued a $208.00 price objective (down from $218.00) on shares of Avery Dennison in a research report on Friday, January 31st. Finally, UBS Group decreased their price objective on shares of Avery Dennison from $235.00 to $207.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $222.51.

Insider Buying and Selling

In other Avery Dennison news, Chairman Mitchell R. Butier sold 12,969 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $181.85, for a total value of $2,358,412.65. Following the completion of the transaction, the chairman now owns 303,331 shares in the company, valued at $55,160,742.35. This represents a 4.10 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.10% of the company’s stock.

Avery Dennison Trading Up 0.8 %

NYSE AVY opened at $183.94 on Friday. Avery Dennison Co. has a 12 month low of $178.72 and a 12 month high of $233.48. The company has a 50-day moving average of $186.11 and a 200-day moving average of $200.82. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.08 and a quick ratio of 0.73. The company has a market cap of $14.53 billion, a P/E ratio of 21.09, a P/E/G ratio of 2.07 and a beta of 0.85.

Avery Dennison (NYSE:AVY) last posted its earnings results on Thursday, January 30th. The industrial products company reported $2.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.39 by ($0.01). Avery Dennison had a return on equity of 33.06% and a net margin of 8.05%. As a group, equities analysts predict that Avery Dennison Co. will post 9.96 earnings per share for the current year.

Avery Dennison Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date is Wednesday, March 5th. Avery Dennison’s dividend payout ratio (DPR) is presently 40.37%.

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.