Avery Dennison Co. (NYSE:AVY) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue lowered its position in Avery Dennison Co. (NYSE:AVY - Free Report) by 14.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,883 shares of the industrial products company's stock after selling 2,925 shares during the period. State of Alaska Department of Revenue's holdings in Avery Dennison were worth $3,158,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Clarius Group LLC purchased a new stake in Avery Dennison in the 3rd quarter worth approximately $201,000. Livforsakringsbolaget Skandia Omsesidigt boosted its position in Avery Dennison by 255.8% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 950 shares of the industrial products company's stock worth $210,000 after purchasing an additional 683 shares in the last quarter. Exchange Traded Concepts LLC boosted its position in Avery Dennison by 18.6% in the 3rd quarter. Exchange Traded Concepts LLC now owns 3,771 shares of the industrial products company's stock worth $832,000 after purchasing an additional 591 shares in the last quarter. Paladin Wealth LLC acquired a new position in shares of Avery Dennison during the 3rd quarter worth approximately $504,000. Finally, Procyon Advisors LLC raised its stake in shares of Avery Dennison by 4.0% during the 3rd quarter. Procyon Advisors LLC now owns 1,442 shares of the industrial products company's stock worth $319,000 after buying an additional 56 shares during the period. Hedge funds and other institutional investors own 94.17% of the company's stock.

Avery Dennison Trading Up 1.0 %

Shares of NYSE AVY traded up $1.89 during mid-day trading on Thursday, reaching $183.08. 512,883 shares of the company's stock were exchanged, compared to its average volume of 776,117. The firm has a market capitalization of $14.71 billion, a price-to-earnings ratio of 20.99, a PEG ratio of 2.04 and a beta of 0.89. 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 Co. has a 52-week low of $178.72 and a 52-week high of $233.48. The company's 50-day moving average is $189.40 and its 200-day moving average is $203.93.

Avery Dennison (NYSE:AVY - Get Free Report) last announced its 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 expect that Avery Dennison Co. will post 9.96 EPS for the current fiscal year.

Avery Dennison Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date of this dividend is Wednesday, March 5th. Avery Dennison's dividend payout ratio (DPR) is 40.37%.

Insider Activity at Avery Dennison

In other Avery Dennison news, SVP Nicholas Colisto sold 3,679 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $206.00, for a total value of $757,874.00. Following the sale, the senior vice president now owns 7,126 shares of the company's stock, valued at $1,467,956. This trade represents a 34.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

AVY has been the subject of several research analyst reports. JPMorgan Chase & Co. raised Avery Dennison from a "neutral" rating to an "overweight" rating and reduced their target price for the stock from $210.00 to $205.00 in a research note on Friday, January 31st. Barclays reduced their target price on Avery Dennison from $245.00 to $225.00 and set an "overweight" rating for the company in a research note on Monday, February 3rd. Truist Financial reaffirmed a "buy" rating and set a $215.00 target price (down from $245.00) on shares of Avery Dennison in a research note on Friday, January 31st. Bank of America reduced their price objective on Avery Dennison from $238.00 to $220.00 and set a "buy" rating for the company in a research note on Monday, January 6th. Finally, Raymond James reissued an "outperform" rating and issued a $208.00 price objective (down from $218.00) on shares of Avery Dennison in a research note on Friday, January 31st. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $227.15.

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.