Avery Dennison Co. (NYSE:AVY) Shares Bought by Alliancebernstein L.P.

Alliancebernstein L.P. lifted its position in Avery Dennison Co. (NYSE:AVY - Free Report) by 3.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 91,989 shares of the industrial products company's stock after acquiring an additional 2,641 shares during the quarter. Alliancebernstein L.P. owned 0.11% of Avery Dennison worth $17,214,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Regents Gate Capital LLP purchased a new position in shares of Avery Dennison in the 4th quarter worth approximately $37,000. Spire Wealth Management grew its holdings in Avery Dennison by 76.0% in the fourth quarter. Spire Wealth Management now owns 301 shares of the industrial products company's stock worth $56,000 after purchasing an additional 130 shares during the last quarter. VisionPoint Advisory Group LLC acquired a new position in shares of Avery Dennison during the fourth quarter worth $68,000. AdvisorNet Financial Inc lifted its holdings in shares of Avery Dennison by 18.8% during the 4th quarter. AdvisorNet Financial Inc now owns 367 shares of the industrial products company's stock valued at $69,000 after purchasing an additional 58 shares during the last quarter. Finally, Assetmark Inc. boosted its position in shares of Avery Dennison by 22.5% in the 4th quarter. Assetmark Inc. now owns 397 shares of the industrial products company's stock worth $74,000 after purchasing an additional 73 shares in the last quarter. 94.17% of the stock is currently owned by institutional investors.

Avery Dennison Stock Performance

Shares of AVY stock traded up $0.78 during trading hours on Monday, hitting $170.46. The stock had a trading volume of 46,348 shares, compared to its average volume of 576,452. Avery Dennison Co. has a twelve month low of $157.00 and a twelve month high of $233.48. The firm has a market capitalization of $13.46 billion, a PE ratio of 19.55, a PEG ratio of 2.07 and a beta of 0.85. The stock's 50 day moving average is $178.64 and its 200 day moving average is $192.62. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.08 and a quick ratio of 0.73.

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Avery Dennison (NYSE:AVY - Get Free Report) last released its quarterly earnings results 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 return on equity of 33.06% and a net margin of 8.05%. As a group, research analysts forecast that Avery Dennison Co. will post 9.96 earnings per share for the current fiscal year.

Avery Dennison Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were issued a $0.88 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.06%. Avery Dennison's dividend payout ratio (DPR) is 40.37%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Truist Financial reaffirmed a "buy" rating and set a $215.00 target price (down from $245.00) on shares of Avery Dennison in a report on Friday, January 31st. Bank of America dropped their target price 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. Robert W. Baird set a $220.00 price objective on Avery Dennison in a report on Friday, January 31st. Citigroup decreased their target price 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. Finally, Raymond James restated an "outperform" rating and issued a $208.00 target price (down from $218.00) on shares of Avery Dennison in a report on Friday, January 31st. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $220.87.

Insider Buying and Selling

In other Avery Dennison news, Chairman Mitchell R. Butier sold 12,969 shares of the firm's stock in a transaction dated 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 sale, the chairman now directly owns 303,331 shares of the company's stock, valued at approximately $55,160,742.35. This trade represents a 4.10 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.84% of the stock is currently owned by company 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.