5,946 Shares in Avery Dennison Co. (NYSE:AVY) Bought by Manning & Napier Advisors LLC

Manning & Napier Advisors LLC purchased a new position in shares of Avery Dennison Co. (NYSE:AVY) in the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 5,946 shares of the industrial products company’s stock, valued at approximately $1,113,000.

Other institutional investors have also bought and sold shares of the company. Larson Financial Group LLC grew its holdings in Avery Dennison by 100.0% during the third quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company’s stock worth $31,000 after buying an additional 71 shares in the last quarter. Kennebec Savings Bank bought a new stake in Avery Dennison during the third quarter worth $36,000. Peterson Financial Group Inc. bought a new position in Avery Dennison in the 3rd quarter valued at $39,000. Raleigh Capital Management Inc. grew its stake in Avery Dennison by 1,400.0% in the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the industrial products company’s stock valued at $56,000 after purchasing an additional 238 shares during the period. Finally, Brooklyn Investment Group bought a new position in Avery Dennison in the 3rd quarter valued at $66,000. Institutional investors own 94.17% of the company’s stock.

Avery Dennison Stock Performance

Shares of AVY opened at $182.67 on Friday. The stock’s 50-day simple moving average is $193.87 and its 200 day simple moving average is $206.51. The stock has a market capitalization of $14.68 billion, a price-to-earnings ratio of 21.93, a price-to-earnings-growth ratio of 1.36 and a beta of 0.89. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.62 and a current ratio of 0.92. Avery Dennison Co. has a 52-week low of $179.20 and a 52-week high of $233.48.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings data 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 33.01% and a net margin of 7.76%. Research analysts forecast that Avery Dennison Co. will post 9.41 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on AVY. Truist Financial reduced their price objective on Avery Dennison from $258.00 to $245.00 and set a “buy” rating for the company in a research note on Monday, January 6th. JPMorgan Chase & Co. downgraded Avery Dennison from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $230.00 to $210.00 in a research note on Thursday, October 24th. Bank of America reduced their price objective on Avery Dennison from $238.00 to $220.00 and set a “buy” rating for the company in a research note on Monday, January 6th. StockNews.com downgraded Avery Dennison from a “buy” rating to a “hold” rating in a research note on Thursday, October 24th. Finally, BMO Capital Markets reduced their price objective on Avery Dennison from $252.00 to $247.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Avery Dennison currently has a consensus rating of “Moderate Buy” and a consensus target price of $235.05.

Insider Buying and Selling

In other Avery Dennison news, SVP Nicholas Colisto sold 3,679 shares of Avery Dennison stock in a transaction that occurred on 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 directly owns 7,126 shares of the company’s stock, valued at $1,467,956. The trade was a 34.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.10% of the stock is currently owned by insiders.

Avery Dennison Company 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.