Heritage Trust Co Takes Position in Avery Dennison Co. (NYSE:AVY)

Heritage Trust Co purchased a new stake in Avery Dennison Co. (NYSE:AVY - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 2,950 shares of the industrial products company's stock, valued at approximately $552,000.

Several other large investors have also recently bought and sold shares of AVY. Regents Gate Capital LLP bought a new position in shares of Avery Dennison during the fourth quarter worth approximately $37,000. Spire Wealth Management grew its position in 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 buying an additional 130 shares in the last quarter. VisionPoint Advisory Group LLC bought a new position in Avery Dennison during the 4th quarter worth $68,000. AdvisorNet Financial Inc raised its holdings in Avery Dennison by 18.8% in the 4th quarter. AdvisorNet Financial Inc now owns 367 shares of the industrial products company's stock valued at $69,000 after acquiring an additional 58 shares in the last quarter. Finally, Assetmark Inc. lifted 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 worth $74,000 after purchasing an additional 73 shares during the period. 94.17% of the stock is owned by institutional investors.

Avery Dennison Stock Performance

Shares of NYSE:AVY traded down $1.02 during mid-day trading on Wednesday, reaching $168.48. The company had a trading volume of 737,081 shares, compared to its average volume of 793,387. Avery Dennison Co. has a one year low of $157.00 and a one year high of $233.48. The company has a current ratio of 1.08, a quick ratio of 0.73 and a debt-to-equity ratio of 1.10. The company's 50-day moving average price is $178.15 and its 200-day moving average price is $192.11. The firm has a market cap of $13.30 billion, a price-to-earnings ratio of 19.32, a PEG ratio of 2.07 and a beta of 0.85.

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

Avery Dennison Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were given a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 2.09%. The ex-dividend date was Wednesday, March 5th. Avery Dennison's dividend payout ratio (DPR) is currently 40.37%.

Insider Buying and Selling

In other Avery Dennison news, Chairman Mitchell R. Butier sold 12,969 shares of the stock in a transaction on 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 sale, the chairman now owns 303,331 shares in the company, valued at $55,160,742.35. This represents a 4.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.84% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on AVY. BMO Capital Markets set a $226.00 target price on Avery Dennison in a report on Monday, February 3rd. Truist Financial reiterated a "buy" rating and issued a $215.00 target price (down previously from $245.00) on shares of Avery Dennison in a research report on Friday, January 31st. Raymond James restated an "outperform" rating and issued a $208.00 price target (down from $218.00) on shares of Avery Dennison in a research note on Friday, January 31st. JPMorgan Chase & Co. upgraded shares of Avery Dennison from a "neutral" rating to an "overweight" rating and lowered their price objective for the stock from $210.00 to $205.00 in a research report on Friday, January 31st. Finally, Robert W. Baird set a $220.00 target price on shares of Avery Dennison in a research report on Friday, January 31st. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Avery Dennison presently has a consensus rating of "Moderate Buy" and an average target price 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.