421 Shares in Avery Dennison Co. (NYSE:AVY) Purchased by Headlands Technologies LLC

Headlands Technologies LLC purchased a new stake in Avery Dennison Co. (NYSE:AVY) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 421 shares of the industrial products company’s stock, valued at approximately $79,000.

Other hedge funds also recently modified their holdings of the company. Janus Henderson Group PLC lifted its position in Avery Dennison by 3.4% in the third quarter. Janus Henderson Group PLC now owns 9,133 shares of the industrial products company’s stock worth $2,016,000 after purchasing an additional 300 shares during the period. Royal London Asset Management Ltd. lifted its holdings in shares of Avery Dennison by 2.8% during the 3rd quarter. Royal London Asset Management Ltd. now owns 32,969 shares of the industrial products company’s stock worth $7,278,000 after acquiring an additional 893 shares during the period. Quantinno Capital Management LP increased its stake in Avery Dennison by 18.1% in the third quarter. Quantinno Capital Management LP now owns 21,681 shares of the industrial products company’s stock valued at $4,786,000 after acquiring an additional 3,319 shares during the period. Kovitz Investment Group Partners LLC acquired a new position in Avery Dennison in the third quarter worth about $451,000. Finally, EP Wealth Advisors LLC lifted its stake in Avery Dennison by 286.3% during the third quarter. EP Wealth Advisors LLC now owns 4,381 shares of the industrial products company’s stock worth $967,000 after purchasing an additional 3,247 shares during the period. Institutional investors own 94.17% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on AVY shares. Truist Financial reissued a “buy” rating and issued a $215.00 target price (down from $245.00) on shares of Avery Dennison in a report on Friday, January 31st. UBS Group dropped their price objective on Avery Dennison from $235.00 to $207.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. Robert W. Baird set a $220.00 target price on shares of Avery Dennison in a research note on Friday, January 31st. BMO Capital Markets set a $226.00 price target on shares of Avery Dennison in a report on Monday, February 3rd. Finally, 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 note on Monday, January 6th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Avery Dennison currently has an average rating of “Moderate Buy” and a consensus target price of $222.51.

Insider Buying and Selling

In related news, Chairman Mitchell R. Butier sold 12,969 shares of Avery Dennison stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $181.85, for a total transaction of $2,358,412.65. Following the completion of the sale, the chairman now directly owns 303,331 shares of the company’s stock, valued at $55,160,742.35. The trade was a 4.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.84% of the stock is currently owned by insiders.

Avery Dennison Stock Performance

AVY stock opened at $170.30 on Monday. The company has a 50 day moving average price of $181.82 and a 200 day moving average price of $194.99. Avery Dennison Co. has a fifty-two week low of $168.77 and a fifty-two week 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. The stock has a market capitalization of $13.45 billion, a PE ratio of 19.53, a price-to-earnings-growth ratio of 2.07 and a beta of 0.85.

Avery Dennison (NYSE:AVY) last released its earnings results on Thursday, January 30th. The industrial products company reported $2.38 earnings per share 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%. Analysts forecast that Avery Dennison Co. will post 9.96 EPS for the current year.

Avery Dennison Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 2.07%. The ex-dividend date of this dividend was Wednesday, March 5th. Avery Dennison’s dividend payout ratio is 40.37%.

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.