Terra Alpha Investments LLC Takes Position in Avery Dennison Co. (NYSE:AVY)

Terra Alpha Investments LLC bought a new position in Avery Dennison Co. (NYSE:AVY - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 15,492 shares of the industrial products company's stock, valued at approximately $2,899,000. Avery Dennison accounts for approximately 2.9% of Terra Alpha Investments LLC's holdings, making the stock its 16th largest position.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Signaturefd LLC boosted its position in Avery Dennison by 157.6% during the 4th quarter. Signaturefd LLC now owns 693 shares of the industrial products company's stock worth $130,000 after acquiring an additional 424 shares during the period. Cibc World Markets Corp grew its stake in shares of Avery Dennison by 299.7% in the 4th quarter. Cibc World Markets Corp now owns 43,529 shares of the industrial products company's stock worth $8,146,000 after purchasing an additional 32,639 shares during the last quarter. Gitterman Wealth Management LLC acquired a new stake in Avery Dennison during the fourth quarter valued at approximately $215,000. Centurion Wealth Management LLC boosted its holdings in Avery Dennison by 8.3% during the fourth quarter. Centurion Wealth Management LLC now owns 1,561 shares of the industrial products company's stock worth $292,000 after buying an additional 120 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. increased its holdings in shares of Avery Dennison by 0.9% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 12,558 shares of the industrial products company's stock valued at $2,350,000 after buying an additional 106 shares in the last quarter. 94.17% of the stock is currently owned by institutional investors.

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Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on AVY. Truist Financial reissued a "buy" rating and issued a $215.00 price target (down previously from $245.00) on shares of Avery Dennison in a research note on Friday, January 31st. BMO Capital Markets set a $226.00 price objective on shares of Avery Dennison in a research note on Monday, February 3rd. JPMorgan Chase & Co. upgraded Avery Dennison from a "neutral" rating to an "overweight" rating and reduced their target price for the company from $210.00 to $205.00 in a report on Friday, January 31st. Bank of America lowered their price target on Avery Dennison from $238.00 to $220.00 and set a "buy" rating on the stock in a report on Monday, January 6th. Finally, Citigroup decreased their price objective on Avery Dennison from $228.00 to $202.00 and set a "neutral" rating for the company in a research report on Monday, January 6th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $222.51.

Avery Dennison Stock Performance

Avery Dennison stock traded down $2.37 during trading hours on Friday, reaching $174.68. 1,492,546 shares of the company were exchanged, compared to its average volume of 512,318. Avery Dennison Co. has a 12 month low of $173.14 and a 12 month high of $233.48. The firm has a market cap of $13.79 billion, a price-to-earnings ratio of 20.03, a PEG ratio of 2.07 and a beta of 0.85. 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 stock has a 50-day moving average of $184.80 and a 200 day moving average of $198.52.

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 the consensus estimate of $2.39 by ($0.01). Avery Dennison had a return on equity of 33.06% and a net margin of 8.05%. As a group, research analysts anticipate that Avery Dennison Co. will post 9.96 earnings per share for the current year.

Avery Dennison Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were given a $0.88 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $3.52 annualized dividend and a dividend yield of 2.02%. Avery Dennison's dividend payout ratio is 40.37%.

Insider Transactions at Avery Dennison

In related news, Chairman Mitchell R. Butier sold 8,068 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $186.19, for a total transaction of $1,502,180.92. Following the transaction, the chairman now directly owns 316,300 shares in the company, valued at $58,891,897. The trade was a 2.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.10% of the stock is currently owned by corporate insiders.

About Avery Dennison

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.