Siemens Fonds Invest GmbH Trims Stake in Avery Dennison Co. (NYSE:AVY)

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

Several other institutional investors have also recently modified their holdings of AVY. Regents Gate Capital LLP acquired a new stake in Avery Dennison during the fourth quarter worth about $37,000. Spire Wealth Management boosted its position in Avery Dennison by 76.0% in the 4th quarter. Spire Wealth Management now owns 301 shares of the industrial products company's stock worth $56,000 after purchasing an additional 130 shares in the last quarter. VisionPoint Advisory Group LLC acquired a new stake in shares of Avery Dennison during the 4th quarter worth approximately $68,000. AdvisorNet Financial Inc increased 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 purchasing an additional 58 shares in the last quarter. Finally, Assetmark Inc. lifted its stake in shares of Avery Dennison by 22.5% in the 4th 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. 94.17% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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 transaction of $1,502,180.92. Following the completion of the sale, the chairman now directly owns 316,300 shares in the company, valued at approximately $58,891,897. This trade represents a 2.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.84% of the company's stock.

Avery Dennison Price Performance

Shares of NYSE:AVY traded up $0.17 during midday trading on Thursday, hitting $180.29. The company's stock had a trading volume of 371,223 shares, compared to its average volume of 609,145. The company has a market cap of $14.09 billion, a P/E ratio of 20.68, 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 business's 50 day simple moving average is $173.99 and its 200 day simple moving average is $185.31. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.73 and a current ratio of 1.08.

Avery Dennison (NYSE:AVY - Get Free Report) last posted its quarterly earnings results 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). Avery Dennison had a net margin of 8.05% and a return on equity of 33.06%. The company had revenue of $2.15 billion during the quarter, compared to analysts' expectations of $2.15 billion. During the same quarter last year, the company earned $2.29 earnings per share. Avery Dennison's revenue for the quarter was down .1% on a year-over-year basis. On average, 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 of this dividend is Wednesday, June 4th. This is an increase from Avery Dennison's previous quarterly dividend of $0.88. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.09%. Avery Dennison's dividend payout ratio (DPR) is 43.32%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on AVY. Wall Street Zen raised shares of Avery Dennison from a "sell" rating to a "hold" rating in a report on Thursday. Raymond James cut their price target on Avery Dennison from $208.00 to $194.00 and set an "outperform" rating for the company in a research note on Tuesday, April 22nd. BMO Capital Markets lowered their price target on Avery Dennison from $226.00 to $216.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. Truist Financial cut their price objective on Avery Dennison from $215.00 to $210.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Finally, Barclays reduced their target price on Avery Dennison from $225.00 to $210.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently 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.