Cerity Partners LLC Decreases Holdings in Avery Dennison Co. (NYSE:AVY)

Cerity Partners LLC reduced its holdings in shares of Avery Dennison Co. (NYSE:AVY - Free Report) by 21.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 82,860 shares of the industrial products company's stock after selling 22,031 shares during the quarter. Cerity Partners LLC owned 0.10% of Avery Dennison worth $15,506,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Regents Gate Capital LLP bought a new position in Avery Dennison in the fourth quarter valued at about $37,000. Spire Wealth Management raised its holdings in Avery Dennison by 76.0% during the 4th 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. AdvisorNet Financial Inc lifted its position in shares of Avery Dennison by 18.8% in the 4th quarter. AdvisorNet Financial Inc now owns 367 shares of the industrial products company's stock worth $69,000 after purchasing an additional 58 shares during the period. VisionPoint Advisory Group LLC bought a new stake in shares of Avery Dennison in the 4th quarter valued at $68,000. Finally, Assetmark Inc. increased its position in shares of Avery Dennison by 22.5% during the fourth quarter. Assetmark Inc. now owns 397 shares of the industrial products company's stock worth $74,000 after buying an additional 73 shares during the period. 94.17% of the stock is owned by institutional investors and hedge funds.

Avery Dennison Stock Performance

Shares of Avery Dennison stock traded down $1.27 during trading hours on Tuesday, reaching $171.02. The company had a trading volume of 179,604 shares, compared to its average volume of 577,745. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.08 and a quick ratio of 0.73. Avery Dennison Co. has a one year low of $157.00 and a one year high of $233.48. The firm has a market cap of $13.50 billion, a PE ratio of 19.61, a price-to-earnings-growth ratio of 2.07 and a beta of 0.85. The business has a fifty day simple moving average of $178.39 and a 200 day simple moving average of $192.27.

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Avery Dennison (NYSE:AVY - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.38 earnings per share for the quarter, missing the consensus estimate of $2.39 by ($0.01). Avery Dennison had a net margin of 8.05% and a return on equity of 33.06%. On average, analysts anticipate that Avery Dennison Co. will post 9.96 earnings per share for the current fiscal year.

Avery Dennison Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were issued a $0.88 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $3.52 annualized dividend and a dividend yield of 2.06%. Avery Dennison's payout ratio is currently 40.37%.

Insider Activity

In other Avery Dennison news, Chairman Mitchell R. Butier sold 12,969 shares of the business's 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 completion of the transaction, the chairman now owns 303,331 shares of the company's stock, valued at $55,160,742.35. The trade was a 4.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.84% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on AVY. Truist Financial reiterated 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. Citigroup decreased their target price on shares of Avery Dennison from $228.00 to $202.00 and set a "neutral" rating for the company in a research report on Monday, January 6th. Bank of America reduced their target price on shares of Avery Dennison from $238.00 to $220.00 and set a "buy" rating for the company in a research note on Monday, January 6th. UBS Group cut their price objective on Avery Dennison from $207.00 to $189.00 and set a "neutral" rating on the stock in a research report on Monday, April 7th. Finally, Raymond James reaffirmed an "outperform" rating and set a $208.00 target price (down from $218.00) on shares of Avery Dennison in a research report on Friday, January 31st. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target 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.