Great Lakes Advisors LLC Sells 3,164 Shares of Avery Dennison Co. (NYSE:AVY)

Great Lakes Advisors LLC trimmed its holdings in shares of Avery Dennison Co. (NYSE:AVY - Free Report) by 3.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 99,092 shares of the industrial products company's stock after selling 3,164 shares during the period. Great Lakes Advisors LLC owned about 0.12% of Avery Dennison worth $18,543,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Larson Financial Group LLC boosted its holdings in 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 buying an additional 71 shares in the last quarter. Peterson Financial Group Inc. acquired a new position in Avery Dennison in the 3rd quarter worth approximately $39,000. Regents Gate Capital LLP acquired a new position in Avery Dennison in the 4th quarter worth approximately $37,000. Brooklyn Investment Group acquired a new position in Avery Dennison in the 3rd quarter worth approximately $66,000. Finally, Spire Wealth Management boosted its stake in Avery Dennison by 76.0% in 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 period. 94.17% of the stock is currently owned by institutional investors.

Insider Activity at Avery Dennison

In other Avery Dennison news, Chairman Mitchell R. Butier sold 12,969 shares of the stock in a transaction 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 sale, the chairman now directly owns 303,331 shares in the company, valued at approximately $55,160,742.35. This trade represents a 4.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.10% of the stock is currently owned by company insiders.

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Avery Dennison Price Performance

Shares of Avery Dennison stock traded up $3.02 during trading on Friday, hitting $178.91. 420,100 shares of the company's stock traded hands, compared to its average volume of 505,823. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.08 and a quick ratio of 0.73. The firm's fifty day moving average price is $185.49 and its 200 day moving average price is $199.52. Avery Dennison Co. has a twelve month low of $174.91 and a twelve month high of $233.48. The company has a market cap of $14.13 billion, a PE ratio of 20.52, a PEG ratio of 2.07 and a beta of 0.85.

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

Avery Dennison Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date of this dividend is Wednesday, March 5th. Avery Dennison's dividend payout ratio is presently 40.37%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on AVY shares. Bank of America decreased 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. Truist Financial reissued a "buy" rating and set a $215.00 target price (down previously from $245.00) on shares of Avery Dennison in a research note on Friday, January 31st. Raymond James restated an "outperform" rating and set a $208.00 price target (down previously from $218.00) on shares of Avery Dennison in a report on Friday, January 31st. Citigroup cut their price target on shares of Avery Dennison from $228.00 to $202.00 and set a "neutral" rating on the stock in a report on Monday, January 6th. Finally, Robert W. Baird set a $220.00 price target on shares of Avery Dennison in a report on Friday, January 31st. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target 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.