Atlas Capital Advisors Inc. Takes $430,000 Position in Avery Dennison Co. (NYSE:AVY)

Atlas Capital Advisors Inc. purchased a new stake in shares of Avery Dennison Co. (NYSE:AVY - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 2,300 shares of the industrial products company's stock, valued at approximately $430,000.

Several other institutional investors have also bought and sold shares of AVY. ExodusPoint Capital Management LP boosted its position in shares of Avery Dennison by 96.6% during the fourth quarter. ExodusPoint Capital Management LP now owns 16,923 shares of the industrial products company's stock valued at $3,167,000 after buying an additional 8,316 shares during the period. World Investment Advisors lifted its stake in Avery Dennison by 27.9% in the fourth quarter. World Investment Advisors now owns 5,057 shares of the industrial products company's stock worth $946,000 after acquiring an additional 1,104 shares during the period. Huntington National Bank increased its position in Avery Dennison by 9.2% during the 4th quarter. Huntington National Bank now owns 3,639 shares of the industrial products company's stock valued at $681,000 after purchasing an additional 308 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of Avery Dennison by 16.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 812,191 shares of the industrial products company's stock valued at $151,985,000 after purchasing an additional 112,650 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new stake in Avery Dennison in the fourth quarter valued at approximately $79,000. Institutional investors own 94.17% of the company's stock.

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Insider Activity

In other Avery Dennison news, Chairman Mitchell R. Butier sold 12,969 shares of the stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $181.85, for a total value of $2,358,412.65. Following the transaction, the chairman now directly owns 303,331 shares in the company, valued at $55,160,742.35. This represents a 4.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.84% of the company's stock.

Avery Dennison Stock Down 2.9 %

AVY stock traded down $4.88 during mid-day trading on Thursday, reaching $163.98. The company had a trading volume of 553,797 shares, compared to its average volume of 571,541. Avery Dennison Co. has a fifty-two week low of $157.00 and a fifty-two week high of $233.48. The company has a market capitalization of $12.95 billion, a price-to-earnings ratio of 18.87, a price-to-earnings-growth ratio of 2.07 and a beta of 0.85. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.73 and a current ratio of 1.08. The firm has a fifty day simple moving average of $179.24 and a 200 day simple moving average of $193.53.

Avery Dennison (NYSE:AVY - Get Free Report) last issued its quarterly earnings results 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 33.06% and a net margin of 8.05%. Analysts forecast that Avery Dennison Co. will post 9.96 earnings per share for the current fiscal year.

Avery Dennison Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $3.52 annualized dividend and a dividend yield of 2.15%. Avery Dennison's dividend payout ratio is currently 40.37%.

Wall Street Analyst Weigh In

AVY has been the topic of several research analyst reports. Raymond James reiterated an "outperform" rating and set a $208.00 price target (down previously from $218.00) on shares of Avery Dennison in a research note on Friday, January 31st. Barclays lowered their target price on Avery Dennison from $245.00 to $225.00 and set an "overweight" rating on the stock in a research note on Monday, February 3rd. UBS Group reduced their price target on Avery Dennison from $207.00 to $189.00 and set a "neutral" rating for the company in a research report on Monday. BMO Capital Markets set a $226.00 target price on shares of Avery Dennison in a research note on Monday, February 3rd. Finally, Truist Financial reaffirmed a "buy" rating and issued a $215.00 price objective (down previously from $245.00) on shares of Avery Dennison in a report on Friday, January 31st. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $220.87.

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.