Homestead Advisers Corp Sells 14,600 Shares of Avery Dennison Co. (NYSE:AVY)

Homestead Advisers Corp cut its holdings in shares of Avery Dennison Co. (NYSE:AVY - Free Report) by 3.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 424,658 shares of the industrial products company's stock after selling 14,600 shares during the quarter. Avery Dennison comprises 1.9% of Homestead Advisers Corp's investment portfolio, making the stock its 21st largest holding. Homestead Advisers Corp owned approximately 0.53% of Avery Dennison worth $79,466,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of AVY. Vanguard Group Inc. raised its stake in shares of Avery Dennison by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 9,681,709 shares of the industrial products company's stock valued at $1,811,738,000 after purchasing an additional 33,149 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Avery Dennison by 8.2% in the 3rd quarter. Geode Capital Management LLC now owns 2,088,516 shares of the industrial products company's stock valued at $459,621,000 after buying an additional 157,754 shares in the last quarter. Boston Partners lifted its holdings in shares of Avery Dennison by 7.7% during the 4th quarter. Boston Partners now owns 926,506 shares of the industrial products company's stock worth $173,385,000 after acquiring an additional 66,216 shares during the period. Bank of New York Mellon Corp increased its stake in Avery Dennison by 21.4% in the fourth quarter. Bank of New York Mellon Corp now owns 764,591 shares of the industrial products company's stock valued at $143,078,000 after acquiring an additional 134,560 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in Avery Dennison by 1.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 699,091 shares of the industrial products company's stock worth $130,821,000 after purchasing an additional 10,674 shares in the last quarter. Institutional investors and hedge funds own 94.17% of the company's stock.

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Insider Transactions at Avery Dennison

In other news, Chairman Mitchell R. Butier sold 12,969 shares of the stock in a transaction dated Thursday, March 6th. The shares were 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 directly owns 303,331 shares in the company, valued at approximately $55,160,742.35. This 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 this hyperlink. Company insiders own 0.84% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently commented on AVY shares. JPMorgan Chase & Co. raised Avery Dennison from a "neutral" rating to an "overweight" rating and decreased their price target for the company from $210.00 to $205.00 in a research note on Friday, January 31st. UBS Group decreased their price target on shares of Avery Dennison from $235.00 to $207.00 and set a "neutral" rating on the stock in a research note on Friday, January 10th. Citigroup cut their target price on shares of Avery Dennison from $228.00 to $202.00 and set a "neutral" rating on the stock in a research report on Monday, January 6th. 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 report on Friday, January 31st. Finally, Truist Financial restated a "buy" rating and set a $215.00 price objective (down previously from $245.00) 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 given a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $222.51.

Avery Dennison Stock Up 0.8 %

Shares of Avery Dennison stock traded up $1.34 on Monday, hitting $177.11. The company had a trading volume of 196,724 shares, compared to its average volume of 701,960. Avery Dennison Co. has a 1 year low of $173.02 and a 1 year 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. The stock has a 50 day moving average of $183.29 and a 200-day moving average of $196.43. The stock has a market capitalization of $13.99 billion, a price-to-earnings ratio of 20.31, a P/E/G ratio of 2.07 and a beta of 0.85.

Avery Dennison (NYSE:AVY - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.38 earnings per share 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, sell-side 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 disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date of this dividend was Wednesday, March 5th. Avery Dennison's dividend payout ratio is currently 40.37%.

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.