Todd Asset Management LLC Sells 502 Shares of Avery Dennison Co. (NYSE:AVY)

Todd Asset Management LLC lowered its stake in Avery Dennison Co. (NYSE:AVY) by 1.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 51,442 shares of the industrial products company’s stock after selling 502 shares during the period. Todd Asset Management LLC owned 0.06% of Avery Dennison worth $10,400,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in AVY. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Avery Dennison during the 3rd quarter valued at $32,000. Milestone Investment Advisors LLC bought a new stake in shares of Avery Dennison during the 3rd quarter valued at $36,000. Anchor Investment Management LLC bought a new stake in shares of Avery Dennison during the 4th quarter valued at $42,000. Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in shares of Avery Dennison by 164.4% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 267 shares of the industrial products company’s stock valued at $54,000 after buying an additional 166 shares in the last quarter. Finally, Adirondack Trust Co. bought a new stake in shares of Avery Dennison during the 3rd quarter valued at $55,000. Institutional investors own 94.17% of the company’s stock.

Insider Activity at Avery Dennison

In other Avery Dennison news, insider Ryan D. Yost sold 1,400 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $213.29, for a total value of $298,606.00. Following the sale, the insider now owns 2,843 shares in the company, valued at $606,383.47. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Avery Dennison news, insider Ryan D. Yost sold 1,400 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $213.29, for a total value of $298,606.00. Following the sale, the insider now owns 2,843 shares in the company, valued at $606,383.47. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman Mitchell R. Butier sold 8,168 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $217.36, for a total value of $1,775,396.48. Following the completion of the sale, the chairman now owns 321,487 shares in the company, valued at approximately $69,878,414.32. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,879 shares of company stock worth $4,217,705. Company insiders own 1.10% of the company’s stock.

Avery Dennison Trading Up 0.9 %

NYSE:AVY traded up $2.04 during midday trading on Friday, hitting $221.55. 319,981 shares of the company traded hands, compared to its average volume of 470,654. The firm’s fifty day moving average is $216.39 and its 200-day moving average is $201.58. Avery Dennison Co. has a 12-month low of $158.93 and a 12-month high of $225.26. The firm has a market capitalization of $17.85 billion, a P/E ratio of 32.34, a P/E/G ratio of 3.38 and a beta of 0.91. The company has a current ratio of 0.87, a quick ratio of 0.58 and a debt-to-equity ratio of 0.94.

Avery Dennison (NYSE:AVY) last released its quarterly earnings results on Wednesday, January 31st. The industrial products company reported $2.16 earnings per share for the quarter, meeting the consensus estimate of $2.16. Avery Dennison had a return on equity of 32.59% and a net margin of 6.56%. The company had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.10 billion. During the same quarter in the prior year, the firm posted $1.65 EPS. Avery Dennison’s quarterly revenue was up 4.2% compared to the same quarter last year. On average, sell-side analysts predict that Avery Dennison Co. will post 9.27 EPS for the current year.

Avery Dennison Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Wednesday, June 5th will be issued a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend is Tuesday, June 4th. This is a positive change from Avery Dennison’s previous quarterly dividend of $0.81. Avery Dennison’s dividend payout ratio is presently 47.30%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. UBS Group boosted their price objective on Avery Dennison from $225.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, January 11th. Robert W. Baird upped their price target on Avery Dennison from $215.00 to $230.00 and gave the stock an “outperform” rating in a research note on Thursday, April 25th. Citigroup upped their price target on Avery Dennison from $223.00 to $234.00 and gave the stock a “neutral” rating in a research note on Thursday, April 4th. JPMorgan Chase & Co. upped their price target on Avery Dennison from $218.00 to $220.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. Finally, Truist Financial upped their price target on Avery Dennison from $248.00 to $253.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $224.00.

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.