Fenimore Asset Management Inc Has $24.91 Million Position in Avery Dennison Co. (NYSE:AVY)

Fenimore Asset Management Inc cut its position in shares of Avery Dennison Co. (NYSE:AVY) by 0.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 133,119 shares of the industrial products company’s stock after selling 468 shares during the period. Fenimore Asset Management Inc owned 0.17% of Avery Dennison worth $24,911,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Nordea Investment Management AB increased its position in Avery Dennison by 485.2% during the fourth quarter. Nordea Investment Management AB now owns 35,630 shares of the industrial products company’s stock worth $6,715,000 after buying an additional 29,541 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Avery Dennison by 6.8% during the 3rd quarter. Victory Capital Management Inc. now owns 1,416,798 shares of the industrial products company’s stock worth $312,772,000 after acquiring an additional 90,250 shares during the last quarter. Icon Wealth Advisors LLC raised its stake in Avery Dennison by 553.5% in the 3rd quarter. Icon Wealth Advisors LLC now owns 3,137 shares of the industrial products company’s stock valued at $693,000 after acquiring an additional 2,657 shares during the period. Meyer Handelman Co. acquired a new stake in Avery Dennison during the 4th quarter valued at $4,263,000. Finally, JPMorgan Chase & Co. boosted its position in Avery Dennison by 12.4% during the third quarter. JPMorgan Chase & Co. now owns 420,232 shares of the industrial products company’s stock worth $92,771,000 after purchasing an additional 46,390 shares during the period. 94.17% of the stock is owned by institutional investors.

Insider Transactions at Avery Dennison

In other Avery Dennison news, SVP Nicholas Colisto sold 3,679 shares of Avery Dennison stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $206.00, for a total value of $757,874.00. Following the transaction, the senior vice president now owns 7,126 shares in the company, valued at $1,467,956. The trade was a 34.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.10% of the stock is owned by insiders.

Avery Dennison Price Performance

AVY stock opened at $191.33 on Friday. The company’s 50-day moving average price is $194.09 and its two-hundred day moving average price is $207.06. The firm has a market cap of $15.37 billion, a P/E ratio of 22.97, a P/E/G ratio of 1.36 and a beta of 0.89. The company has a quick ratio of 0.62, a current ratio of 0.92 and a debt-to-equity ratio of 0.85. Avery Dennison Co. has a 12 month low of $181.99 and a 12 month high of $233.48.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $2.33 EPS for the quarter, beating the consensus estimate of $2.32 by $0.01. The business had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.20 billion. Avery Dennison had a net margin of 7.76% and a return on equity of 33.01%. The company’s revenue was up 4.1% on a year-over-year basis. During the same period in the previous year, the business earned $2.10 earnings per share. On average, analysts anticipate that Avery Dennison Co. will post 9.41 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently issued reports on AVY shares. JPMorgan Chase & Co. cut shares of Avery Dennison from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $230.00 to $210.00 in a research note on Thursday, October 24th. Citigroup cut their price objective on shares of Avery Dennison from $228.00 to $202.00 and set a “neutral” rating for the company in a research report on Monday, January 6th. Truist Financial decreased their target price on Avery Dennison from $258.00 to $245.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Bank of America lowered their target price on Avery Dennison from $238.00 to $220.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Finally, Barclays reduced their price target on Avery Dennison from $250.00 to $245.00 and set an “overweight” rating for the company in a research note on Monday, October 28th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $235.05.

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.