Townsquare Capital LLC Has $3.06 Million Stock Position in Avery Dennison Co. (NYSE:AVY)

Townsquare Capital LLC trimmed its position in Avery Dennison Co. (NYSE:AVY - Free Report) by 34.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,353 shares of the industrial products company's stock after selling 8,528 shares during the period. Townsquare Capital LLC's holdings in Avery Dennison were worth $3,060,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Greenleaf Trust grew its position in shares of Avery Dennison by 4.4% in the fourth quarter. Greenleaf Trust now owns 1,352 shares of the industrial products company's stock valued at $253,000 after purchasing an additional 57 shares during the period. AdvisorNet Financial Inc boosted its position in shares of Avery Dennison by 18.8% in the fourth quarter. AdvisorNet Financial Inc now owns 367 shares of the industrial products company's stock worth $69,000 after acquiring an additional 58 shares during the last quarter. HBK Sorce Advisory LLC increased its position in Avery Dennison by 0.5% during the fourth quarter. HBK Sorce Advisory LLC now owns 11,862 shares of the industrial products company's stock worth $2,220,000 after purchasing an additional 58 shares during the last quarter. RMR Wealth Builders boosted its holdings in shares of Avery Dennison by 5.7% in the 4th quarter. RMR Wealth Builders now owns 1,097 shares of the industrial products company's stock valued at $205,000 after purchasing an additional 59 shares during the last quarter. Finally, New York Life Investment Management LLC increased its holdings in shares of Avery Dennison by 0.6% during the 4th quarter. New York Life Investment Management LLC now owns 10,981 shares of the industrial products company's stock worth $2,055,000 after buying an additional 61 shares during the last quarter. 94.17% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Chairman Mitchell R. Butier sold 8,068 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $186.19, for a total transaction of $1,502,180.92. Following the completion of the sale, the chairman now directly owns 316,300 shares in the company, valued at approximately $58,891,897. This trade represents a 2.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.84% of the company's stock.

Avery Dennison Trading Down 1.6 %

Shares of NYSE AVY traded down $2.66 during mid-day trading on Monday, hitting $168.20. 58,524 shares of the company traded hands, compared to its average volume of 582,778. The business has a 50 day moving average of $177.54 and a two-hundred day moving average of $190.94. The stock has a market capitalization of $13.21 billion, a price-to-earnings ratio of 19.34, a PEG ratio of 2.07 and a beta of 0.85. Avery Dennison Co. has a 1 year low of $157.00 and a 1 year high of $233.48. The company has a quick ratio of 0.73, a current ratio of 1.08 and a debt-to-equity ratio of 1.10.

Avery Dennison (NYSE:AVY - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.38 earnings per share (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%. On average, sell-side analysts anticipate that Avery Dennison Co. will post 9.96 earnings per share for the current fiscal year.

Avery Dennison Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Robert W. Baird set a $220.00 price target on shares of Avery Dennison in a research report on Friday, January 31st. JPMorgan Chase & Co. upgraded Avery Dennison from a "neutral" rating to an "overweight" rating and dropped their target price for the company from $210.00 to $205.00 in a report on Friday, January 31st. UBS Group dropped their target price on Avery Dennison from $207.00 to $189.00 and set a "neutral" rating on the stock in a research report on Monday, April 7th. Citigroup dropped their price target on shares of Avery Dennison from $228.00 to $202.00 and set a "neutral" rating for the company in a research note on Monday, January 6th. Finally, Truist Financial reissued a "buy" rating and issued a $215.00 price objective (down from $245.00) on shares of Avery Dennison in a report on Friday, January 31st. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Avery Dennison presently has an average rating of "Moderate Buy" and an average target price of $220.87.

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.