Magnetar Financial LLC Acquires New Holdings in Avery Dennison Co. (NYSE:AVY)

Magnetar Financial LLC acquired a new position in Avery Dennison Co. (NYSE:AVY - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,560 shares of the industrial products company's stock, valued at approximately $479,000.

A number of other large investors also recently modified their holdings of the stock. Larson Financial Group LLC raised its position in Avery Dennison by 100.0% in the 3rd quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company's stock valued at $31,000 after buying an additional 71 shares during the last quarter. Regents Gate Capital LLP purchased a new stake in shares of Avery Dennison in the fourth quarter valued at about $37,000. Spire Wealth Management increased its stake in Avery Dennison by 76.0% in the 4th quarter. Spire Wealth Management now owns 301 shares of the industrial products company's stock valued at $56,000 after buying an additional 130 shares during the last quarter. Brooklyn Investment Group purchased a new position in Avery Dennison in the third quarter worth $66,000. Finally, VisionPoint Advisory Group LLC purchased a new position in shares of Avery Dennison in the 4th quarter worth about $68,000. Institutional investors own 94.17% of the company's stock.

Avery Dennison Trading Up 0.1 %

Shares of AVY traded up $0.22 during mid-day trading on Thursday, hitting $178.16. 377,055 shares of the company's stock traded hands, compared to its average volume of 511,820. The company has a quick ratio of 0.73, a current ratio of 1.08 and a debt-to-equity ratio of 1.10. Avery Dennison Co. has a 1 year low of $173.02 and a 1 year high of $233.48. The firm has a market capitalization of $14.07 billion, a P/E ratio of 20.43, a PEG ratio of 2.07 and a beta of 0.85. The business's 50-day moving average price is $183.85 and its 200-day moving average price is $197.18.

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Avery Dennison (NYSE:AVY - Get Free Report) last released its earnings results on Thursday, January 30th. The industrial products company reported $2.38 EPS for the quarter, missing analysts' consensus estimates 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, sell-side analysts forecast that Avery Dennison Co. will post 9.96 EPS for the current fiscal year.

Avery Dennison Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date was Wednesday, March 5th. Avery Dennison's dividend payout ratio (DPR) is presently 40.37%.

Insider Buying and Selling at Avery Dennison

In related news, Chairman Mitchell R. Butier sold 12,969 shares of the stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $181.85, for a total transaction of $2,358,412.65. Following the sale, the chairman now directly owns 303,331 shares of the company's stock, valued at approximately $55,160,742.35. This represents a 4.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.84% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts have issued reports on the company. Robert W. Baird set a $220.00 target price on Avery Dennison in a research note on Friday, January 31st. Truist Financial restated 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. Bank of America lowered their price objective on Avery Dennison from $238.00 to $220.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. Citigroup dropped their price objective on shares of Avery Dennison from $228.00 to $202.00 and set a "neutral" rating for the company in a report on Monday, January 6th. Finally, BMO Capital Markets set a $226.00 price objective on Avery Dennison in a report on Monday, February 3rd. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Avery Dennison has a consensus rating of "Moderate Buy" and an average price target of $222.51.

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.