Amalgamated Bank Has $2.99 Million Stock Position in Avery Dennison Co. (NYSE:AVY)

Amalgamated Bank cut its position in Avery Dennison Co. (NYSE:AVY) by 1.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,993 shares of the industrial products company’s stock after selling 241 shares during the period. Amalgamated Bank’s holdings in Avery Dennison were worth $2,993,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AVY. Bank of New York Mellon Corp grew its position in Avery Dennison by 21.4% in the 4th quarter. Bank of New York Mellon Corp now owns 764,591 shares of the industrial products company’s stock valued at $143,078,000 after purchasing an additional 134,560 shares during the period. Rothschild Investment LLC increased its holdings in Avery Dennison by 18.3% during the 4th quarter. Rothschild Investment LLC now owns 440 shares of the industrial products company’s stock worth $82,000 after purchasing an additional 68 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of Avery Dennison in the fourth quarter worth approximately $1,652,000. VisionPoint Advisory Group LLC purchased a new position in shares of Avery Dennison during the fourth quarter valued at approximately $68,000. Finally, Venturi Wealth Management LLC grew its holdings in Avery Dennison by 32.4% during the fourth quarter. Venturi Wealth Management LLC now owns 4,492 shares of the industrial products company’s stock worth $841,000 after buying an additional 1,100 shares in the last quarter. 94.17% of the stock is owned by institutional investors.

Avery Dennison Trading Up 1.4 %

Shares of AVY stock opened at $188.07 on Friday. The stock has a market capitalization of $15.11 billion, a price-to-earnings ratio of 21.57, a PEG ratio of 2.07 and a beta of 0.89. The company’s fifty day simple moving average is $186.69 and its two-hundred day simple moving average is $201.83. Avery Dennison Co. has a 1 year low of $178.72 and a 1 year high of $233.48. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.08 and a quick ratio of 0.73.

Avery Dennison (NYSE:AVY) last posted its earnings results 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 return on equity of 33.06% and a net margin of 8.05%. As a group, analysts anticipate that Avery Dennison Co. will post 9.96 earnings per share for the current year.

Avery Dennison Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 1.87%. The ex-dividend date is Wednesday, March 5th. Avery Dennison’s dividend payout ratio (DPR) is currently 40.37%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Raymond James reaffirmed an “outperform” rating and set a $208.00 price objective (down from $218.00) on shares of Avery Dennison in a report on Friday, January 31st. UBS Group dropped their target price 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. Bank of America decreased their price target on Avery Dennison from $238.00 to $220.00 and set a “buy” rating for the company in a research report on Monday, January 6th. BMO Capital Markets set a $226.00 price objective on Avery Dennison in a research note on Monday, February 3rd. Finally, Truist Financial reissued a “buy” rating and issued a $215.00 price target (down from $245.00) on shares of Avery Dennison in a report on Friday, January 31st. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Avery Dennison has an average rating of “Moderate Buy” and an average price target of $222.51.

About Avery Dennison

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.