Channing Capital Management LLC Invests $6.14 Million in Avery Dennison Co. (NYSE:AVY)

Channing Capital Management LLC purchased a new position in Avery Dennison Co. (NYSE:AVY - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 30,393 shares of the industrial products company's stock, valued at approximately $6,144,000.

Other large investors also recently added to or reduced their stakes in the company. Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of Avery Dennison during the 3rd quarter valued at approximately $32,000. Milestone Investment Advisors LLC purchased a new stake in shares of Avery Dennison in the third quarter valued at $36,000. Anchor Investment Management LLC bought a new stake in shares of Avery Dennison in the 4th quarter worth about $42,000. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of Avery Dennison by 164.4% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 267 shares of the industrial products company's stock worth $54,000 after purchasing an additional 166 shares during the period. Finally, Adirondack Trust Co. bought a new position in Avery Dennison during the 3rd quarter valued at about $55,000. 94.17% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on AVY. JPMorgan Chase & Co. boosted their target price on Avery Dennison from $218.00 to $220.00 and gave the company an "overweight" rating in a research report on Thursday, April 25th. StockNews.com raised shares of Avery Dennison from a "hold" rating to a "buy" rating in a research note on Monday, April 22nd. Truist Financial raised their price target on shares of Avery Dennison from $248.00 to $253.00 and gave the stock a "buy" rating in a research note on Friday, April 26th. Raymond James restated an "outperform" rating and issued a $240.00 target price (up from $225.00) on shares of Avery Dennison in a research note on Thursday, April 25th. Finally, UBS Group lifted their price target on shares of Avery Dennison from $225.00 to $230.00 and gave the company a "buy" rating in a research note on Thursday, January 11th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Avery Dennison presently has an average rating of "Moderate Buy" and an average price target of $224.00.

Insider Activity at Avery Dennison

In other news, insider Ryan D. Yost sold 1,400 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $213.29, for a total transaction of $298,606.00. Following the completion of the sale, the insider now owns 2,843 shares in the company, valued at approximately $606,383.47. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Avery Dennison news, insider Ryan D. Yost sold 1,400 shares of the firm's stock in a transaction on Monday, March 11th. The shares were sold at an average price of $213.29, for a total value of $298,606.00. Following the completion of the transaction, the insider now owns 2,843 shares of the company's stock, valued at $606,383.47. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Mitchell R. Butier sold 8,168 shares of the business's stock in a transaction on Monday, March 4th. The shares were sold at an average price of $217.36, for a total transaction of $1,775,396.48. Following the sale, the chairman now directly owns 321,487 shares in the company, valued at $69,878,414.32. The disclosure for this sale can be found here. Insiders sold 19,879 shares of company stock valued at $4,217,705 over the last 90 days. Insiders own 1.10% of the company's stock.

Avery Dennison Stock Up 0.3 %

NYSE AVY traded up $0.59 during midday trading on Monday, hitting $222.14. 451,872 shares of the company traded hands, compared to its average volume of 446,057. The company's 50-day simple moving average is $216.54 and its 200-day simple moving average is $202.18. Avery Dennison Co. has a 52 week low of $158.93 and a 52 week high of $225.26. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.87 and a quick ratio of 0.58. The company has a market cap of $17.89 billion, a PE ratio of 32.43, a price-to-earnings-growth ratio of 3.41 and a beta of 0.91.

Avery Dennison Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Wednesday, June 5th will be given a $0.88 dividend. The ex-dividend date is Tuesday, June 4th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.58%. This is an increase from Avery Dennison's previous quarterly dividend of $0.81. Avery Dennison's payout ratio is presently 47.30%.

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.