FORA Capital LLC Acquires Shares of 13,326 Avery Dennison Co. (NYSE:AVY)

FORA Capital LLC purchased a new stake in Avery Dennison Co. (NYSE:AVY - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 13,326 shares of the industrial products company's stock, valued at approximately $2,494,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Regents Gate Capital LLP acquired a new position in shares of Avery Dennison during the fourth quarter valued at about $37,000. Spire Wealth Management raised its holdings in shares of Avery Dennison by 76.0% during the fourth quarter. Spire Wealth Management now owns 301 shares of the industrial products company's stock valued at $56,000 after purchasing an additional 130 shares during the period. AdvisorNet Financial Inc raised its holdings in shares of Avery Dennison by 18.8% during the fourth quarter. AdvisorNet Financial Inc now owns 367 shares of the industrial products company's stock valued at $69,000 after purchasing an additional 58 shares during the period. VisionPoint Advisory Group LLC acquired a new position in shares of Avery Dennison during the fourth quarter valued at about $68,000. Finally, Assetmark Inc. raised its position in shares of Avery Dennison by 22.5% during the fourth quarter. Assetmark Inc. now owns 397 shares of the industrial products company's stock worth $74,000 after purchasing an additional 73 shares during the period. 94.17% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Chairman Mitchell R. Butier sold 12,969 shares of the business's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $181.85, for a total transaction of $2,358,412.65. Following the completion of the transaction, the chairman now owns 303,331 shares of the company's stock, valued at approximately $55,160,742.35. The trade was a 4.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.84% of the stock is owned by corporate insiders.

Avery Dennison Stock Performance

AVY traded down $0.86 on Friday, hitting $172.16. The company's stock had a trading volume of 292,583 shares, compared to its average volume of 603,523. The company's 50 day simple moving average is $173.77 and its 200-day simple moving average is $186.38. The firm has a market cap of $13.46 billion, a P/E ratio of 19.74, a price-to-earnings-growth ratio of 2.07 and a beta of 0.88. Avery Dennison Co. has a 12 month low of $157.00 and a 12 month high of $233.48. The company has a quick ratio of 0.73, a current ratio of 1.08 and a debt-to-equity ratio of 1.10.

Avery Dennison (NYSE:AVY - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The industrial products company reported $2.30 EPS for the quarter, missing the consensus estimate of $2.32 by ($0.02). The business had revenue of $2.15 billion during the quarter, compared to the consensus estimate of $2.15 billion. Avery Dennison had a return on equity of 33.06% and a net margin of 8.05%. The firm's quarterly revenue was down .1% on a year-over-year basis. During the same period last year, the business posted $2.29 earnings per share. Analysts forecast that Avery Dennison Co. will post 9.96 EPS for the current year.

Avery Dennison Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th will be paid a $0.94 dividend. The ex-dividend date is Wednesday, June 4th. This represents a $3.76 annualized dividend and a yield of 2.18%. This is an increase from Avery Dennison's previous quarterly dividend of $0.88. Avery Dennison's dividend payout ratio (DPR) is currently 43.32%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on AVY shares. JPMorgan Chase & Co. lowered Avery Dennison from an "overweight" rating to a "neutral" rating and lowered their target price for the stock from $205.00 to $172.00 in a research report on Thursday, April 24th. Truist Financial decreased their price objective on shares of Avery Dennison from $215.00 to $210.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Jefferies Financial Group started coverage on shares of Avery Dennison in a research note on Tuesday, April 22nd. They issued a "hold" rating and a $175.00 price objective for the company. Barclays decreased their target price on Avery Dennison from $225.00 to $210.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. Finally, Robert W. Baird decreased their target price on Avery Dennison from $220.00 to $210.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Avery Dennison currently has an average rating of "Moderate Buy" and a consensus price target of $206.60.

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.