Walden Wealth Partners LLC Purchases New Shares in Avery Dennison Co. (NYSE:AVY)

Walden Wealth Partners LLC purchased a new stake in Avery Dennison Co. (NYSE:AVY) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 1,415 shares of the industrial products company’s stock, valued at approximately $286,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. QRG Capital Management Inc. lifted its stake in Avery Dennison by 30.7% in the 4th quarter. QRG Capital Management Inc. now owns 3,682 shares of the industrial products company’s stock worth $744,000 after acquiring an additional 864 shares in the last quarter. Jump Financial LLC purchased a new stake in shares of Avery Dennison during the 4th quarter worth about $1,213,000. UBS Group AG raised its stake in shares of Avery Dennison by 54.1% during the 4th quarter. UBS Group AG now owns 181,418 shares of the industrial products company’s stock worth $36,675,000 after purchasing an additional 63,716 shares in the last quarter. AEGON ASSET MANAGEMENT UK Plc purchased a new stake in shares of Avery Dennison during the 4th quarter worth about $2,715,000. Finally, Norden Group LLC raised its stake in shares of Avery Dennison by 3.9% during the 4th quarter. Norden Group LLC now owns 4,026 shares of the industrial products company’s stock worth $814,000 after purchasing an additional 151 shares in the last quarter. Institutional investors and hedge funds own 94.17% of the company’s stock.

Avery Dennison Stock Performance

AVY traded up $1.86 during midday trading on Monday, reaching $228.39. The company’s stock had a trading volume of 286,800 shares, compared to its average volume of 435,473. The stock has a market cap of $18.40 billion, a P/E ratio of 33.07, a PEG ratio of 2.08 and a beta of 0.91. The company has a fifty day simple moving average of $221.64 and a 200 day simple moving average of $211.38. The company has a current ratio of 0.87, a quick ratio of 0.58 and a debt-to-equity ratio of 0.94. Avery Dennison Co. has a twelve month low of $163.83 and a twelve month high of $229.98.

Avery Dennison (NYSE:AVY) last released its earnings results on Wednesday, April 24th. The industrial products company reported $2.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.15 by $0.14. Avery Dennison had a return on equity of 32.59% and a net margin of 6.56%. The firm had revenue of $2.15 billion for the quarter, compared to analyst estimates of $2.15 billion. Research analysts expect that Avery Dennison Co. will post 9.32 earnings per share for the current year.

Avery Dennison Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Wednesday, June 5th will be issued a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 1.54%. The ex-dividend date of this dividend is Wednesday, June 5th. This is a positive change from Avery Dennison’s previous quarterly dividend of $0.81. Avery Dennison’s dividend payout ratio (DPR) is presently 51.39%.

Insider Transactions at Avery Dennison

In other news, insider Ryan D. Yost sold 149 shares of Avery Dennison stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $226.38, for a total transaction of $33,730.62. Following the sale, the insider now owns 2,110 shares of the company’s stock, valued at approximately $477,661.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Ryan D. Yost sold 584 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $221.31, for a total transaction of $129,245.04. Following the completion of the transaction, the insider now owns 2,259 shares in the company, valued at approximately $499,939.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Ryan D. Yost sold 149 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $226.38, for a total value of $33,730.62. Following the transaction, the insider now owns 2,110 shares of the company’s stock, valued at approximately $477,661.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 12,583 shares of company stock valued at $2,856,353. 1.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Raymond James reaffirmed an “outperform” rating and set a $240.00 price target (up from $225.00) on shares of Avery Dennison in a research note on Thursday, April 25th. Truist Financial raised their price target on Avery Dennison from $248.00 to $253.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Argus increased their price objective on Avery Dennison from $240.00 to $245.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. Citigroup increased their price objective on Avery Dennison from $223.00 to $234.00 and gave the company a “neutral” rating in a report on Thursday, April 4th. Finally, Robert W. Baird increased their price objective on Avery Dennison from $230.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, June 7th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, Avery Dennison currently has an average rating of “Moderate Buy” and an average price target of $230.50.

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.