Duality Advisers LP Takes Position in Avery Dennison Co. (NYSE:AVY)

Duality Advisers LP bought a new position in shares of Avery Dennison Co. (NYSE:AVY - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 13,018 shares of the industrial products company's stock, valued at approximately $2,632,000.

Several other hedge funds have also recently bought and sold shares of AVY. AEGON ASSET MANAGEMENT UK Plc bought a new position in shares of Avery Dennison during the 4th quarter worth approximately $2,715,000. Mutual of America Capital Management LLC grew its stake in shares of Avery Dennison by 133.4% during the 4th quarter. Mutual of America Capital Management LLC now owns 26,318 shares of the industrial products company's stock worth $5,320,000 after acquiring an additional 15,040 shares in the last quarter. Cerity Partners LLC grew its stake in shares of Avery Dennison by 4,159.9% during the 4th quarter. Cerity Partners LLC now owns 1,191,228 shares of the industrial products company's stock worth $240,819,000 after acquiring an additional 1,163,264 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Avery Dennison by 192.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 10,713 shares of the industrial products company's stock worth $2,166,000 after acquiring an additional 7,047 shares in the last quarter. Finally, Janney Montgomery Scott LLC grew its stake in shares of Avery Dennison by 736.1% during the 3rd quarter. Janney Montgomery Scott LLC now owns 142,766 shares of the industrial products company's stock worth $26,080,000 after acquiring an additional 125,691 shares in the last quarter. 94.17% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on AVY shares. StockNews.com cut shares of Avery Dennison from a "buy" rating to a "hold" rating in a research note on Wednesday, March 27th. JPMorgan Chase & Co. boosted their target price on shares of Avery Dennison from $185.00 to $218.00 and gave the stock an "overweight" rating in a report on Thursday, February 1st. Truist Financial restated a "buy" rating and set a $249.00 target price on shares of Avery Dennison in a report on Friday, January 19th. Raymond James boosted their target price on shares of Avery Dennison from $199.00 to $225.00 and gave the stock an "outperform" rating in a report on Thursday, January 25th. Finally, UBS Group boosted their target price on shares of Avery Dennison from $225.00 to $230.00 and gave the stock a "buy" rating in a report on Thursday, January 11th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $221.00.

Avery Dennison Stock Performance

Shares of NYSE:AVY traded up $0.20 on Monday, hitting $211.77. The company had a trading volume of 422,691 shares, compared to its average volume of 431,235. Avery Dennison Co. has a 1-year low of $158.93 and a 1-year high of $225.26. The stock has a market cap of $17.05 billion, a price-to-earnings ratio of 34.14, a P/E/G ratio of 3.27 and a beta of 0.90. The stock has a 50 day moving average price of $214.97 and a 200 day moving average price of $199.52. The company has a current ratio of 1.04, a quick ratio of 0.69 and a debt-to-equity ratio of 1.23.

Avery Dennison (NYSE:AVY - Get Free Report) last announced its earnings results on Wednesday, January 31st. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $2.16. The company had revenue of $2.11 billion during the quarter, compared to analysts' expectations of $2.10 billion. Avery Dennison had a net margin of 6.01% and a return on equity of 30.97%. Avery Dennison's quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.65 earnings per share. Analysts expect that Avery Dennison Co. will post 9.26 EPS for the current year.

Avery Dennison Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th were given a $0.81 dividend. The ex-dividend date was Tuesday, March 5th. This represents a $3.24 dividend on an annualized basis and a dividend yield of 1.53%. Avery Dennison's payout ratio is presently 52.17%.

Insider Activity

In related news, Director Julia A. Stewart sold 5,311 shares of the company's stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $202.26, for a total transaction of $1,074,202.86. Following the completion of the sale, the director now owns 5,018 shares of the company's stock, valued at $1,014,940.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Julia A. Stewart sold 5,311 shares of the company's stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $202.26, for a total transaction of $1,074,202.86. Following the completion of the sale, the director now owns 5,018 shares of the company's stock, valued at $1,014,940.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ryan D. Yost sold 1,400 shares of the company's stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $213.29, for a total transaction of $298,606.00. Following the sale, the insider now directly owns 2,843 shares of the company's stock, valued at approximately $606,383.47. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,879 shares of company stock valued at $4,217,705. 1.10% of the stock is owned by company insiders.

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.