Atria Investments Inc Sells 2,214 Shares of Avery Dennison Co. (NYSE:AVY)

Atria Investments Inc lessened its position in Avery Dennison Co. (NYSE:AVY) by 15.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,844 shares of the industrial products company’s stock after selling 2,214 shares during the quarter. Atria Investments Inc’s holdings in Avery Dennison were worth $2,216,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Larson Financial Group LLC increased its stake in Avery Dennison by 100.0% in the third quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 71 shares during the last quarter. Kennebec Savings Bank bought a new position in Avery Dennison in the third quarter valued at $36,000. Regents Gate Capital LLP bought a new position in Avery Dennison in the fourth quarter valued at $37,000. Peterson Financial Group Inc. bought a new position in Avery Dennison in the third quarter valued at $39,000. Finally, Spire Wealth Management increased its stake in Avery Dennison by 76.0% in the fourth quarter. Spire Wealth Management now owns 301 shares of the industrial products company’s stock valued at $56,000 after acquiring an additional 130 shares during the last quarter. Institutional investors own 94.17% of the company’s stock.

Avery Dennison Stock Performance

Avery Dennison stock opened at $183.94 on Monday. 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 firm has a 50-day moving average of $186.11 and a 200-day moving average of $200.72. The firm has a market cap of $14.53 billion, a P/E ratio of 21.09, a P/E/G ratio of 2.07 and a beta of 0.85. Avery Dennison Co. has a 1-year low of $178.72 and a 1-year high of $233.48.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings data 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%. Sell-side analysts expect that Avery Dennison Co. will post 9.96 EPS for the current year.

Avery Dennison Announces Dividend

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

Insiders Place Their Bets

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

Analysts Set New Price Targets

A number of research analysts have recently issued reports on AVY shares. Citigroup reduced their price objective on Avery Dennison from $228.00 to $202.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. Barclays reduced their price objective on Avery Dennison from $245.00 to $225.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. BMO Capital Markets set a $226.00 price objective on Avery Dennison in a research note on Monday, February 3rd. Bank of America reduced their price objective on Avery Dennison from $238.00 to $220.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Finally, Truist Financial reaffirmed a “buy” rating and set a $215.00 price objective (down from $245.00) on shares of Avery Dennison in a research note on Friday, January 31st. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $222.51.

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.