GAMMA Investing LLC Acquires 508 Shares of Avery Dennison Co. (NYSE:AVY)

GAMMA Investing LLC increased its holdings in Avery Dennison Co. (NYSE:AVY) by 30.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,202 shares of the industrial products company’s stock after acquiring an additional 508 shares during the period. GAMMA Investing LLC’s holdings in Avery Dennison were worth $412,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Larson Financial Group LLC raised its stake in shares of Avery Dennison by 100.0% in the third quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 71 shares during the last quarter. Kennebec Savings Bank bought a new stake in Avery Dennison during the third quarter worth $36,000. Peterson Financial Group Inc. purchased a new stake in Avery Dennison in the 3rd quarter valued at $39,000. Ashton Thomas Private Wealth LLC bought a new position in Avery Dennison during the 2nd quarter valued at $42,000. Finally, Raleigh Capital Management Inc. boosted its holdings in Avery Dennison by 1,400.0% during the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the industrial products company’s stock worth $56,000 after acquiring an additional 238 shares during the last quarter. Institutional investors own 94.17% of the company’s stock.

Insider Transactions at Avery Dennison

In other news, SVP Nicholas Colisto sold 3,679 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $206.00, for a total value of $757,874.00. Following the transaction, the senior vice president now owns 7,126 shares of the company’s stock, valued at approximately $1,467,956. This represents a 34.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.10% of the company’s stock.

Avery Dennison Stock Performance

NYSE AVY opened at $185.09 on Monday. The firm has a market cap of $14.87 billion, a P/E ratio of 22.22, a price-to-earnings-growth ratio of 1.52 and a beta of 0.89. The company has a quick ratio of 0.62, a current ratio of 0.92 and a debt-to-equity ratio of 0.85. The company’s 50 day moving average is $198.61 and its 200-day moving average is $210.27. Avery Dennison Co. has a 12-month low of $181.99 and a 12-month high of $233.48.

Avery Dennison (NYSE:AVY) last issued its earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.32 by $0.01. The business had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.20 billion. Avery Dennison had a net margin of 7.76% and a return on equity of 33.01%. The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.10 EPS. Sell-side analysts predict that Avery Dennison Co. will post 9.42 earnings per share for the current year.

Avery Dennison Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th were given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 1.90%. The ex-dividend date was Wednesday, December 4th. Avery Dennison’s dividend payout ratio is presently 42.26%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Citigroup dropped their price target on shares of Avery Dennison from $241.00 to $240.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 2nd. Barclays cut their target price on Avery Dennison from $250.00 to $245.00 and set an “overweight” rating on the stock in a research note on Monday, October 28th. StockNews.com lowered Avery Dennison from a “buy” rating to a “hold” rating in a report on Thursday, October 24th. BMO Capital Markets reduced their price objective on Avery Dennison from $252.00 to $247.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Finally, JPMorgan Chase & Co. lowered Avery Dennison from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $230.00 to $210.00 in a research report on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $244.96.

Avery Dennison Company 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.