Edgestream Partners L.P. Purchases 12,886 Shares of Avery Dennison Co. (NYSE:AVY)

Edgestream Partners L.P. boosted its holdings in Avery Dennison Co. (NYSE:AVY - Free Report) by 153.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 21,310 shares of the industrial products company's stock after purchasing an additional 12,886 shares during the quarter. Edgestream Partners L.P.'s holdings in Avery Dennison were worth $3,988,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Larson Financial Group LLC increased its position 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 worth $31,000 after acquiring an additional 71 shares in the last quarter. Kennebec Savings Bank purchased a new stake in shares of Avery Dennison in the third quarter worth approximately $36,000. Peterson Financial Group Inc. purchased a new position in shares of Avery Dennison during the third quarter valued at approximately $39,000. Regents Gate Capital LLP bought a new stake in Avery Dennison during the fourth quarter worth $37,000. Finally, Brooklyn Investment Group purchased a new stake in Avery Dennison in the 3rd quarter valued at $66,000. Institutional investors own 94.17% of the company's stock.

Insider Activity at Avery Dennison

In other news, Chairman Mitchell R. Butier sold 12,969 shares of Avery Dennison stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $181.85, for a total transaction of $2,358,412.65. Following the completion of the sale, the chairman now owns 303,331 shares in the company, valued at approximately $55,160,742.35. This trade represents a 4.10 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.10% of the stock is owned by corporate insiders.

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Analyst Upgrades and Downgrades

A number of research firms have issued reports on AVY. Bank of America cut their price objective on shares of Avery Dennison from $238.00 to $220.00 and set a "buy" rating on the stock in a report on Monday, January 6th. Citigroup decreased their price objective on shares of Avery Dennison from $228.00 to $202.00 and set a "neutral" rating for the company in a research note on Monday, January 6th. Truist Financial reaffirmed 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. Raymond James reaffirmed an "outperform" rating and set a $208.00 price target (down from $218.00) on shares of Avery Dennison in a research report on Friday, January 31st. Finally, Barclays cut their price objective on Avery Dennison from $245.00 to $225.00 and set an "overweight" rating on the stock in a research report on Monday, February 3rd. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $222.51.

Avery Dennison Stock Performance

AVY stock traded down $2.91 during midday trading on Wednesday, reaching $177.24. 542,540 shares of the company's stock traded hands, compared to its average volume of 505,526. The firm has a market capitalization of $14.00 billion, a PE ratio of 20.33, a price-to-earnings-growth ratio of 2.07 and a beta of 0.85. The company has a 50-day moving average price of $185.97 and a two-hundred day moving average price of $200.24. Avery Dennison Co. has a 52 week low of $175.85 and a 52 week high of $233.48. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.73 and a current ratio of 1.08.

Avery Dennison (NYSE:AVY - Get Free Report) last posted its earnings results on Thursday, January 30th. The industrial products company reported $2.38 earnings per share 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%. As a group, equities analysts anticipate that Avery Dennison Co. will post 9.96 EPS for the current year.

Avery Dennison Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be issued a $0.88 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $3.52 annualized dividend and a dividend yield of 1.99%. Avery Dennison's payout ratio is currently 40.37%.

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.