Distillate Capital Partners LLC Sells 61,453 Shares of Avery Dennison Co. (NYSE:AVY)

Distillate Capital Partners LLC decreased its holdings in Avery Dennison Co. (NYSE:AVY - Free Report) by 42.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 83,703 shares of the industrial products company's stock after selling 61,453 shares during the quarter. Distillate Capital Partners LLC owned 0.10% of Avery Dennison worth $15,663,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Regents Gate Capital LLP acquired a new position in shares of Avery Dennison in the 4th quarter worth approximately $37,000. Spire Wealth Management boosted its holdings in shares of Avery Dennison by 76.0% during 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 period. VisionPoint Advisory Group LLC purchased a new position in shares of Avery Dennison during the 4th quarter valued at $68,000. AdvisorNet Financial Inc increased its position in 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 last quarter. Finally, Assetmark Inc. raised its position in Avery Dennison by 22.5% during the fourth quarter. Assetmark Inc. now owns 397 shares of the industrial products company's stock valued at $74,000 after acquiring an additional 73 shares in the last quarter. Institutional investors and hedge funds own 94.17% of the company's stock.

Insider Activity at Avery Dennison

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

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Analyst Ratings Changes

Several research firms have recently issued reports on AVY. 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. Truist Financial restated a "buy" rating and set a $215.00 price target (down from $245.00) on shares of Avery Dennison in a research note on Friday, January 31st. Robert W. Baird set a $220.00 target price on shares of Avery Dennison in a research report on Friday, January 31st. JPMorgan Chase & Co. raised Avery Dennison from a "neutral" rating to an "overweight" rating and cut their price objective for the company from $210.00 to $205.00 in a report on Friday, January 31st. Finally, Citigroup decreased their price target on Avery Dennison from $228.00 to $202.00 and set a "neutral" rating on the stock in a research report on Monday, January 6th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Avery Dennison has an average rating of "Moderate Buy" and a consensus price target of $220.87.

Avery Dennison Trading Down 0.1 %

NYSE AVY traded down $0.14 during trading hours on Tuesday, hitting $172.14. The company's stock had a trading volume of 33,466 shares, compared to its average volume of 577,235. The stock has a fifty day moving average of $178.39 and a 200 day moving average of $192.27. The company has a quick ratio of 0.73, a current ratio of 1.08 and a debt-to-equity ratio of 1.10. The firm has a market capitalization of $13.59 billion, a P/E ratio of 19.67, a PEG ratio of 2.07 and a beta of 0.85. Avery Dennison Co. has a twelve month low of $157.00 and a twelve month high of $233.48.

Avery Dennison (NYSE:AVY - Get Free Report) last released its quarterly earnings data 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%. Equities research analysts forecast that Avery Dennison Co. will post 9.96 earnings per share for the current fiscal year.

Avery Dennison Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were paid a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend was Wednesday, March 5th. Avery Dennison's payout ratio is 40.37%.

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.