Delta Asset Management LLC TN Sells 1,662 Shares of Avery Dennison Co. (NYSE:AVY)

Delta Asset Management LLC TN reduced its stake in Avery Dennison Co. (NYSE:AVY - Free Report) by 1.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 111,278 shares of the industrial products company's stock after selling 1,662 shares during the period. Avery Dennison accounts for 1.9% of Delta Asset Management LLC TN's holdings, making the stock its 17th biggest holding. Delta Asset Management LLC TN owned 0.14% of Avery Dennison worth $20,823,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the company. Larson Financial Group LLC grew its holdings in shares of Avery Dennison by 100.0% during the third 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 bought a new position in Avery Dennison in the 4th quarter valued at about $37,000. Spire Wealth Management boosted its stake in Avery Dennison by 76.0% during the 4th quarter. Spire Wealth Management now owns 301 shares of the industrial products company's stock valued at $56,000 after purchasing an additional 130 shares during the last quarter. Brooklyn Investment Group bought a new stake in Avery Dennison during the 3rd quarter worth approximately $66,000. Finally, VisionPoint Advisory Group LLC purchased a new stake in shares of Avery Dennison in the fourth quarter worth approximately $68,000. 94.17% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Avery Dennison

In other news, Chairman Mitchell R. Butier sold 8,068 shares of the firm's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $186.19, for a total transaction of $1,502,180.92. Following the sale, the chairman now owns 316,300 shares in the company, valued at approximately $58,891,897. This trade represents a 2.49 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.84% of the company's stock.

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Avery Dennison Stock Performance

AVY traded up $1.34 on Monday, hitting $177.11. The company's stock had a trading volume of 196,724 shares, compared to its average volume of 701,960. The company's 50 day simple moving average is $183.29 and its 200-day simple moving average is $196.43. 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 12 month low of $173.02 and a 12 month high of $233.48. The firm has a market cap of $13.99 billion, a P/E ratio of 20.31, a price-to-earnings-growth ratio of 2.07 and a beta of 0.85.

Avery Dennison (NYSE:AVY - Get Free Report) last released its quarterly earnings data 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 net margin of 8.05% and a return on equity of 33.06%. Analysts forecast that Avery Dennison Co. will post 9.96 EPS for the current year.

Avery Dennison Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were paid a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.99%. The ex-dividend date was Wednesday, March 5th. Avery Dennison's dividend payout ratio is presently 40.37%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on AVY. Truist Financial reissued a "buy" rating and issued a $215.00 price target (down from $245.00) on shares of Avery Dennison in a research report on Friday, January 31st. UBS Group cut their price target on shares of Avery Dennison from $235.00 to $207.00 and set a "neutral" rating on the stock in a report on Friday, January 10th. Raymond James reiterated an "outperform" rating and issued a $208.00 price objective (down previously from $218.00) on shares of Avery Dennison in a research note on Friday, January 31st. Robert W. Baird set a $220.00 price target on Avery Dennison in a research report on Friday, January 31st. Finally, Bank of America cut 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. 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, Avery Dennison currently has an average rating of "Moderate Buy" and a consensus target price of $222.51.

Avery Dennison Company 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.