Avery Dennison Co. (NYSE:AVY) Shares Sold by Aristotle Atlantic Partners LLC

Aristotle Atlantic Partners LLC lessened its holdings in shares of Avery Dennison Co. (NYSE:AVY - Free Report) by 5.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 100,478 shares of the industrial products company's stock after selling 6,205 shares during the quarter. Aristotle Atlantic Partners LLC owned approximately 0.13% of Avery Dennison worth $18,802,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also bought and sold shares of the company. DoubleLine ETF Adviser LP bought a new position in shares of Avery Dennison during the fourth quarter valued at $1,702,000. Mercer Global Advisors Inc. ADV purchased a new stake in Avery Dennison during the fourth quarter valued at $1,141,000. Freestone Grove Partners LP purchased a new position in shares of Avery Dennison in the fourth quarter worth approximately $1,974,000. Schonfeld Strategic Advisors LLC increased its stake in shares of Avery Dennison by 795.5% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 10,800 shares of the industrial products company's stock worth $2,021,000 after purchasing an additional 9,594 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in shares of Avery Dennison by 219.4% during the 4th quarter. AQR Capital Management LLC now owns 100,037 shares of the industrial products company's stock valued at $18,720,000 after buying an additional 68,713 shares in the last quarter. 94.17% of the stock is owned by institutional investors.

Avery Dennison Stock Performance

Shares of NYSE:AVY traded down $0.61 during trading on Tuesday, hitting $170.32. The stock had a trading volume of 582,984 shares, compared to its average volume of 600,115. 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 Co. has a 12-month low of $157.00 and a 12-month high of $233.48. The stock has a 50-day simple moving average of $174.83 and a two-hundred day simple moving average of $187.45. The stock has a market capitalization of $13.32 billion, a price-to-earnings ratio of 19.53, a price-to-earnings-growth ratio of 2.07 and a beta of 0.88.

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

Avery Dennison Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th will be given a dividend of $0.94 per share. The ex-dividend date is Wednesday, June 4th. This is a boost from Avery Dennison's previous quarterly dividend of $0.88. This represents a $3.76 dividend on an annualized basis and a yield of 2.21%. Avery Dennison's dividend payout ratio is currently 43.32%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Jefferies Financial Group started coverage on Avery Dennison in a report on Tuesday, April 22nd. They set a "hold" rating and a $175.00 price target on the stock. Truist Financial dropped their price target 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. BMO Capital Markets lowered their target price on shares of Avery Dennison from $226.00 to $216.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. Raymond James reduced their price objective on Avery Dennison from $208.00 to $194.00 and set an "outperform" rating on the stock in a report on Tuesday, April 22nd. Finally, UBS Group dropped their price objective on shares of Avery Dennison from $207.00 to $189.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, Avery Dennison presently has an average rating of "Moderate Buy" and a consensus price target of $209.80.

Insider Buying and Selling

In related news, Chairman Mitchell R. Butier sold 12,969 shares of the company's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $181.85, for a total transaction of $2,358,412.65. Following the completion of the sale, the chairman now owns 303,331 shares of the company's stock, valued at approximately $55,160,742.35. This represents a 4.10 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.84% of the stock is currently owned by insiders.

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.