Janney Montgomery Scott LLC decreased its stake in Avery Dennison Corp (NYSE:AVY) by 9.7% during the 1st quarter, Holdings Channel reports. The fund owned 19,851 shares of the industrial products company’s stock after selling 2,129 shares during the period. Janney Montgomery Scott LLC’s holdings in Avery Dennison were worth $2,243,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently made changes to their positions in the company. Wealthcare Advisory Partners LLC boosted its stake in Avery Dennison by 90.7% during the fourth quarter. Wealthcare Advisory Partners LLC now owns 286 shares of the industrial products company’s stock worth $26,000 after buying an additional 136 shares in the last quarter. CSat Investment Advisory L.P. boosted its stake in Avery Dennison by 60.8% during the fourth quarter. CSat Investment Advisory L.P. now owns 341 shares of the industrial products company’s stock worth $31,000 after buying an additional 129 shares in the last quarter. Penserra Capital Management LLC acquired a new stake in Avery Dennison during the fourth quarter worth $40,000. Bremer Trust National Association acquired a new stake in Avery Dennison during the fourth quarter worth $42,000. Finally, Washington Trust Bank boosted its stake in Avery Dennison by 104.9% during the first quarter. Washington Trust Bank now owns 547 shares of the industrial products company’s stock worth $62,000 after buying an additional 280 shares in the last quarter. Institutional investors and hedge funds own 87.98% of the company’s stock.
Shares of NYSE AVY opened at $106.25 on Friday. The firm has a market cap of $8.91 billion, a price-to-earnings ratio of 17.53, a P/E/G ratio of 1.95 and a beta of 1.35. Avery Dennison Corp has a 52-week low of $82.89 and a 52-week high of $117.00. The company has a debt-to-equity ratio of 1.77, a current ratio of 1.14 and a quick ratio of 0.80.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 19th. Shareholders of record on Wednesday, June 5th will be issued a dividend of $0.58 per share. The ex-dividend date of this dividend is Tuesday, June 4th. This is a boost from Avery Dennison’s previous quarterly dividend of $0.52. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.18%. Avery Dennison’s dividend payout ratio (DPR) is presently 34.32%.
In other Avery Dennison news, VP Lori J. Bondar sold 8,444 shares of Avery Dennison stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $109.03, for a total transaction of $920,649.32. Following the completion of the transaction, the vice president now directly owns 25,872 shares of the company’s stock, valued at $2,820,824.16. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Dean A. Scarborough sold 15,420 shares of Avery Dennison stock in a transaction on Thursday, February 28th. The shares were sold at an average price of $109.07, for a total value of $1,681,859.40. Following the transaction, the director now directly owns 29,151 shares of the company’s stock, valued at $3,179,499.57. The disclosure for this sale can be found here. Over the last three months, insiders have sold 238,328 shares of company stock valued at $25,927,220. Company insiders own 1.30% of the company’s stock.
A number of research firms have weighed in on AVY. Zacks Investment Research downgraded shares of Avery Dennison from a “buy” rating to a “hold” rating in a research note on Monday, April 8th. KeyCorp reiterated a “hold” rating on shares of Avery Dennison in a research note on Wednesday, April 24th. JPMorgan Chase & Co. downgraded shares of Avery Dennison from a “neutral” rating to an “underweight” rating and set a $105.00 price target on the stock. in a research note on Thursday, April 18th. Loop Capital downgraded shares of Avery Dennison from a “buy” rating to a “hold” rating in a research note on Wednesday, March 20th. They noted that the move was a valuation call. Finally, UBS Group set a $125.00 price target on shares of Avery Dennison and gave the stock a “buy” rating in a research note on Friday, January 18th. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $118.44.
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Avery Dennison Company Profile
Avery Dennison Corporation produces and sells pressure-sensitive materials worldwide. The company's Label and Graphic Materials segment offers pressure-sensitive label and packaging materials; and graphics and reflective products under the Fasson, JAC, Avery Dennison, and Mactac brands, as well as durable cast and reflective films.
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