Siemens Fonds Invest GmbH Has $40,000 Stock Position in Avery Dennison Co. (NYSE:AVY)

Siemens Fonds Invest GmbH reduced its stake in shares of Avery Dennison Co. (NYSE:AVY - Free Report) by 98.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 216 shares of the industrial products company's stock after selling 13,307 shares during the quarter. Siemens Fonds Invest GmbH's holdings in Avery Dennison were worth $40,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of AVY. AdvisorNet Financial Inc raised its holdings in shares of Avery Dennison by 18.8% during the 4th quarter. AdvisorNet Financial Inc now owns 367 shares of the industrial products company's stock valued at $69,000 after buying an additional 58 shares during the period. Fifth Third Wealth Advisors LLC purchased a new stake in Avery Dennison during the 4th quarter worth approximately $218,000. Assenagon Asset Management S.A. increased its holdings in Avery Dennison by 278.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 12,232 shares of the industrial products company's stock worth $2,289,000 after purchasing an additional 9,000 shares during the last quarter. Avanza Fonder AB purchased a new stake in Avery Dennison during the 4th quarter worth approximately $1,199,000. Finally, Merit Financial Group LLC purchased a new stake in Avery Dennison during the 4th quarter worth approximately $203,000. 94.17% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Truist Financial dropped their price objective on Avery Dennison from $215.00 to $210.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Jefferies Financial Group initiated coverage on Avery Dennison in a research report on Tuesday, April 22nd. They set a "hold" rating and a $175.00 price objective for the company. Raymond James reduced their price objective on Avery Dennison from $208.00 to $194.00 and set an "outperform" rating for the company in a research report on Tuesday, April 22nd. BMO Capital Markets reduced their price objective on Avery Dennison from $226.00 to $216.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. Finally, JPMorgan Chase & Co. lowered Avery Dennison from an "overweight" rating to a "neutral" rating and reduced their price target for the stock from $205.00 to $172.00 in a research report on Thursday, April 24th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $206.60.

Avery Dennison Price Performance

Shares of Avery Dennison stock traded down $2.66 during trading on Friday, hitting $177.64. The stock had a trading volume of 586,550 shares, compared to its average volume of 612,831. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.08 and a quick ratio of 0.73. The firm has a market cap of $13.89 billion, a P/E ratio of 20.37, a PEG ratio of 2.07 and a beta of 0.88. The business has a fifty day moving average of $173.96 and a two-hundred day moving average of $184.80. Avery Dennison Co. has a fifty-two week low of $157.00 and a fifty-two week high of $233.48.

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

Avery Dennison Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th will be issued a $0.94 dividend. This is a positive change from Avery Dennison's previous quarterly dividend of $0.88. The ex-dividend date is Wednesday, June 4th. This represents a $3.76 annualized dividend and a dividend yield of 2.12%. Avery Dennison's dividend payout ratio is 43.32%.

Insider Activity

In other news, Chairman Mitchell R. Butier sold 8,068 shares of the business's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $186.19, for a total transaction of $1,502,180.92. Following the sale, the chairman now directly owns 316,300 shares of the company's stock, valued at $58,891,897. The trade was a 2.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.84% of the company's stock.

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.