Copley Financial Group Inc. Acquires Shares of 2,321 Avery Dennison Co. (NYSE:AVY)

Copley Financial Group Inc. purchased a new position in shares of Avery Dennison Co. (NYSE:AVY - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,321 shares of the industrial products company's stock, valued at approximately $434,000.

Several other institutional investors also recently modified their holdings of the stock. Regents Gate Capital LLP acquired a new stake in Avery Dennison in the fourth quarter valued at $37,000. Spire Wealth Management increased its holdings in Avery Dennison by 76.0% in 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. VisionPoint Advisory Group LLC acquired a new stake in Avery Dennison in the fourth quarter valued at $68,000. Assetmark Inc. increased its holdings in Avery Dennison by 22.5% in the fourth quarter. Assetmark Inc. now owns 397 shares of the industrial products company's stock valued at $74,000 after purchasing an additional 73 shares during the period. Finally, Farther Finance Advisors LLC increased its holdings in Avery Dennison by 49.8% in the fourth quarter. Farther Finance Advisors LLC now owns 409 shares of the industrial products company's stock valued at $77,000 after purchasing an additional 136 shares during the period. 94.17% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Avery Dennison

In related news, Chairman Mitchell R. Butier sold 8,068 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $186.19, for a total value of $1,502,180.92. Following the transaction, the chairman now owns 316,300 shares of the company's stock, valued at approximately $58,891,897. This trade represents a 2.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.84% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on AVY shares. Robert W. Baird decreased their price objective on Avery Dennison from $220.00 to $210.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. Truist Financial decreased their price objective on Avery Dennison from $215.00 to $210.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Argus cut shares of Avery Dennison from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 12th. JPMorgan Chase & Co. cut shares of Avery Dennison from an "overweight" rating to a "neutral" rating and cut their price target for the company from $205.00 to $172.00 in a research report on Thursday, April 24th. Finally, Raymond James cut their price target on shares of Avery Dennison from $208.00 to $194.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 22nd. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $206.60.

Avery Dennison Stock Down 1.1%

Shares of AVY stock traded down $1.97 on Friday, reaching $177.68. 1,306,679 shares of the company were exchanged, compared to its average volume of 616,775. The company has a market cap of $13.89 billion, a price-to-earnings ratio of 20.38, a PEG ratio of 2.07 and a beta of 0.88. The company has a 50-day moving average of $174.19 and a 200-day moving average of $184.06. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.08 and a quick ratio of 0.73. Avery Dennison Co. has a one year low of $157.00 and a one year high of $233.48.

Avery Dennison (NYSE:AVY - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The industrial products company reported $2.30 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.32 by ($0.02). The company had revenue of $2.15 billion for 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%. Avery Dennison's revenue for the quarter was down .1% compared to the same quarter last year. During the same period last year, the company earned $2.29 EPS. Analysts anticipate that Avery Dennison Co. will post 9.96 earnings per share for the current year.

Avery Dennison Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th will be given a $0.94 dividend. This is a boost from Avery Dennison's previous quarterly dividend of $0.88. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $3.76 annualized dividend and a yield of 2.12%. Avery Dennison's dividend payout ratio (DPR) is presently 43.32%.

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.