12,597 Shares in Avery Dennison Co. (NYSE:AVY) Purchased by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. purchased a new position in Avery Dennison Co. (NYSE:AVY) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 12,597 shares of the industrial products company’s stock, valued at approximately $2,357,000.

A number of other institutional investors also recently bought and sold shares of AVY. Avantax Advisory Services Inc. increased its stake in shares of Avery Dennison by 7.2% in the fourth quarter. Avantax Advisory Services Inc. now owns 8,436 shares of the industrial products company’s stock worth $1,579,000 after acquiring an additional 565 shares during the period. Farther Finance Advisors LLC grew its position in Avery Dennison by 49.8% during the 4th quarter. Farther Finance Advisors LLC now owns 409 shares of the industrial products company’s stock worth $77,000 after purchasing an additional 136 shares during the period. Sequoia Financial Advisors LLC raised its stake in shares of Avery Dennison by 16.8% during the 4th quarter. Sequoia Financial Advisors LLC now owns 5,669 shares of the industrial products company’s stock valued at $1,061,000 after buying an additional 815 shares during the last quarter. Wealthfront Advisers LLC lifted its holdings in shares of Avery Dennison by 14.3% in the 4th quarter. Wealthfront Advisers LLC now owns 9,862 shares of the industrial products company’s stock valued at $1,845,000 after buying an additional 1,233 shares during the period. Finally, Channing Capital Management LLC boosted its stake in shares of Avery Dennison by 26.8% in the fourth quarter. Channing Capital Management LLC now owns 30,976 shares of the industrial products company’s stock worth $5,797,000 after buying an additional 6,543 shares during the last quarter. 94.17% of the stock is owned by hedge funds and other institutional investors.

Avery Dennison Price Performance

Shares of Avery Dennison stock opened at $179.85 on Wednesday. The stock has a market capitalization of $14.20 billion, a P/E ratio of 20.62, a PEG ratio of 2.07 and a beta of 0.85. The business has a 50 day simple moving average of $185.19 and a two-hundred day simple moving average of $198.81. Avery Dennison Co. has a 12 month low of $174.91 and a 12 month high of $233.48. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.08 and a quick ratio of 0.73.

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

Avery Dennison Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be paid a dividend of $0.88 per share. The ex-dividend date is Wednesday, March 5th. This represents a $3.52 annualized dividend and a yield of 1.96%. Avery Dennison’s dividend payout ratio is presently 40.37%.

Analysts Set New Price Targets

Several brokerages recently weighed in on AVY. Truist Financial reiterated a “buy” rating and set a $215.00 price target (down from $245.00) on shares of Avery Dennison in a research report on Friday, January 31st. Bank of America decreased their target price on shares of Avery Dennison from $238.00 to $220.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Robert W. Baird set a $220.00 price target on shares of Avery Dennison in a research report on Friday, January 31st. JPMorgan Chase & Co. upgraded shares of Avery Dennison from a “neutral” rating to an “overweight” rating and decreased their price objective for the stock from $210.00 to $205.00 in a research report on Friday, January 31st. Finally, Barclays dropped their target price on Avery Dennison from $245.00 to $225.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $222.51.

Insider Buying and Selling at Avery Dennison

In other Avery Dennison news, Chairman Mitchell R. Butier sold 12,969 shares of the company’s stock in a transaction 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 sale, the chairman now directly owns 303,331 shares in the company, valued at $55,160,742.35. This represents a 4.10 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.10% of the stock is owned by insiders.

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.