VisionPoint Advisory Group LLC Makes New $68,000 Investment in Avery Dennison Co. (NYSE:AVY)

VisionPoint Advisory Group LLC purchased a new stake in shares of Avery Dennison Co. (NYSE:AVY) in the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 373 shares of the industrial products company’s stock, valued at approximately $68,000.

Several other large investors have also recently modified their holdings of the stock. Allspring Global Investments Holdings LLC raised its holdings in Avery Dennison by 19.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 4,639 shares of the industrial products company’s stock worth $1,024,000 after buying an additional 764 shares during the last quarter. Eastern Bank purchased a new position in shares of Avery Dennison in the third quarter worth $86,000. Private Advisor Group LLC lifted its holdings in shares of Avery Dennison by 2.7% during the third quarter. Private Advisor Group LLC now owns 12,488 shares of the industrial products company’s stock valued at $2,757,000 after purchasing an additional 328 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Avery Dennison during the third quarter valued at $36,550,000. Finally, IFM Investors Pty Ltd increased its holdings in Avery Dennison by 28.3% in the 3rd quarter. IFM Investors Pty Ltd now owns 23,185 shares of the industrial products company’s stock worth $5,118,000 after buying an additional 5,119 shares in the last quarter. Hedge funds and other institutional investors own 94.17% of the company’s stock.

Insider Activity

In related news, SVP Nicholas Colisto sold 3,679 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $206.00, for a total transaction of $757,874.00. Following the completion of the sale, the senior vice president now directly owns 7,126 shares of the company’s stock, valued at approximately $1,467,956. This trade represents a 34.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on AVY shares. Bank of America lowered their target price on shares of Avery Dennison from $238.00 to $220.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Barclays reduced their price target on shares of Avery Dennison from $245.00 to $225.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Truist Financial reissued a “buy” rating and issued a $215.00 price objective (down previously from $245.00) on shares of Avery Dennison in a report on Friday, January 31st. JPMorgan Chase & Co. upgraded shares of Avery Dennison from a “neutral” rating to an “overweight” rating and cut their target price for the company from $210.00 to $205.00 in a research report on Friday, January 31st. Finally, UBS Group decreased their price target on shares of Avery Dennison from $235.00 to $207.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $227.15.

Avery Dennison Price Performance

Shares of Avery Dennison stock opened at $184.34 on Friday. The stock has a 50 day moving average price of $187.22 and a 200-day moving average price of $202.71. Avery Dennison Co. has a one year low of $178.72 and a one year high of $233.48. The stock has a market cap of $14.81 billion, a price-to-earnings ratio of 21.14, a price-to-earnings-growth ratio of 2.05 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 (NYSE:AVY) last posted its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.38 earnings per share 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%. Equities analysts expect that Avery Dennison Co. will post 9.96 EPS for the current year.

Avery Dennison Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be given a dividend of $0.88 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $3.52 annualized dividend and a dividend yield of 1.91%. Avery Dennison’s dividend payout ratio (DPR) is presently 40.37%.

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.