OLD National Bancorp IN Sells 1,740 Shares of Avery Dennison Co. (NYSE:AVY)

OLD National Bancorp IN decreased its stake in shares of Avery Dennison Co. (NYSE:AVY) by 22.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,892 shares of the industrial products company’s stock after selling 1,740 shares during the quarter. OLD National Bancorp IN’s holdings in Avery Dennison were worth $1,191,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AVY. New York Life Investment Management LLC increased its position in Avery Dennison by 0.5% during the 3rd quarter. New York Life Investment Management LLC now owns 11,454 shares of the industrial products company’s stock valued at $2,092,000 after purchasing an additional 58 shares during the period. Signaturefd LLC increased its position in Avery Dennison by 25.5% during the 3rd quarter. Signaturefd LLC now owns 300 shares of the industrial products company’s stock valued at $55,000 after purchasing an additional 61 shares during the period. Advisor Partners II LLC increased its position in Avery Dennison by 1.9% during the 3rd quarter. Advisor Partners II LLC now owns 3,342 shares of the industrial products company’s stock valued at $610,000 after purchasing an additional 63 shares during the period. Lindbrook Capital LLC increased its position in Avery Dennison by 11.5% during the 4th quarter. Lindbrook Capital LLC now owns 630 shares of the industrial products company’s stock valued at $127,000 after purchasing an additional 65 shares during the period. Finally, Avior Wealth Management LLC increased its position in Avery Dennison by 2.6% during the 3rd quarter. Avior Wealth Management LLC now owns 2,971 shares of the industrial products company’s stock valued at $543,000 after purchasing an additional 74 shares during the period. Institutional investors own 94.17% of the company’s stock.

Avery Dennison Price Performance

Avery Dennison stock opened at $211.33 on Wednesday. The company has a market cap of $17.02 billion, a P/E ratio of 34.03, a price-to-earnings-growth ratio of 3.27 and a beta of 0.90. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.69 and a current ratio of 1.04. Avery Dennison Co. has a one year low of $158.93 and a one year high of $225.26. The business has a fifty day moving average of $215.22 and a two-hundred day moving average of $199.92.

Avery Dennison (NYSE:AVY) last released its quarterly earnings results on Wednesday, January 31st. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.16. The business had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.10 billion. Avery Dennison had a return on equity of 30.97% and a net margin of 6.01%. The business’s revenue was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.65 EPS. As a group, analysts predict that Avery Dennison Co. will post 9.26 earnings per share for the current fiscal year.

Avery Dennison Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th were paid a dividend of $0.81 per share. This represents a $3.24 annualized dividend and a dividend yield of 1.53%. The ex-dividend date of this dividend was Tuesday, March 5th. Avery Dennison’s dividend payout ratio (DPR) is presently 52.17%.

Wall Street Analyst Weigh In

AVY has been the topic of a number of analyst reports. Citigroup lifted their price objective on shares of Avery Dennison from $223.00 to $234.00 and gave the stock a “neutral” rating in a research report on Thursday, April 4th. JPMorgan Chase & Co. lifted their price objective on shares of Avery Dennison from $185.00 to $218.00 and gave the stock an “overweight” rating in a research report on Thursday, February 1st. StockNews.com raised shares of Avery Dennison from a “hold” rating to a “buy” rating in a research report on Monday. Raymond James boosted their target price on shares of Avery Dennison from $199.00 to $225.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Finally, Truist Financial restated a “buy” rating and set a $249.00 target price on shares of Avery Dennison in a research report on Friday, January 19th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Avery Dennison presently has a consensus rating of “Moderate Buy” and an average price target of $221.00.

Insider Transactions at Avery Dennison

In other news, insider Ryan D. Yost sold 1,400 shares of Avery Dennison stock in a transaction on Monday, March 11th. The stock was sold at an average price of $213.29, for a total transaction of $298,606.00. Following the completion of the transaction, the insider now owns 2,843 shares of the company’s stock, valued at approximately $606,383.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, SVP Ignacio J. Walker sold 5,000 shares of Avery Dennison stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $213.90, for a total transaction of $1,069,500.00. Following the completion of the sale, the senior vice president now owns 6,102 shares in the company, valued at approximately $1,305,217.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Ryan D. Yost sold 1,400 shares of Avery Dennison stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $213.29, for a total value of $298,606.00. Following the completion of the sale, the insider now owns 2,843 shares of the company’s stock, valued at approximately $606,383.47. The disclosure for this sale can be found here. Insiders sold 19,879 shares of company stock valued at $4,217,705 in the last 90 days. 1.10% of the stock is currently owned by insiders.

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.