Parkside Financial Bank & Trust Grows Position in Avery Dennison Co. (NYSE:AVY)

Parkside Financial Bank & Trust increased its position in shares of Avery Dennison Co. (NYSE:AVY) by 250.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 403 shares of the industrial products company’s stock after buying an additional 288 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Avery Dennison were worth $81,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in AVY. Exchange Traded Concepts LLC increased its stake in shares of Avery Dennison by 38.3% during the third quarter. Exchange Traded Concepts LLC now owns 3,298 shares of the industrial products company’s stock worth $602,000 after buying an additional 914 shares during the period. Caprock Group LLC purchased a new stake in shares of Avery Dennison during the third quarter worth approximately $284,000. Oak Thistle LLC purchased a new position in Avery Dennison in the third quarter valued at approximately $287,000. Czech National Bank increased its stake in Avery Dennison by 47.4% in the third quarter. Czech National Bank now owns 14,084 shares of the industrial products company’s stock valued at $2,573,000 after purchasing an additional 4,527 shares during the last quarter. Finally, Connecticut Wealth Management LLC purchased a new position in Avery Dennison in the third quarter valued at approximately $247,000. 94.17% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, SVP Ignacio J. Walker sold 5,000 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $213.90, for a total transaction of $1,069,500.00. Following the completion of the sale, the senior vice president now directly owns 6,102 shares of the company’s stock, valued at $1,305,217.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Avery Dennison news, SVP Ignacio J. Walker sold 5,000 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $213.90, for a total value of $1,069,500.00. Following the completion of the sale, the senior vice president now owns 6,102 shares of the company’s stock, valued at $1,305,217.80. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, 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 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. Insiders sold a total of 19,879 shares of company stock valued at $4,217,705 over the last three months. 1.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on AVY. Citigroup increased their price target on shares of Avery Dennison from $223.00 to $234.00 and gave the company a “neutral” rating in a research note on Thursday, April 4th. Truist Financial reiterated a “buy” rating and issued a $249.00 price target on shares of Avery Dennison in a research note on Friday, January 19th. Raymond James reiterated an “outperform” rating and issued a $240.00 price target (up from $225.00) on shares of Avery Dennison in a research note on Thursday. UBS Group increased 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. Finally, Robert W. Baird increased their price target on shares of Avery Dennison from $215.00 to $230.00 and gave the company an “outperform” rating in a research note on Thursday. 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 company. According to MarketBeat.com, Avery Dennison has an average rating of “Moderate Buy” and an average price target of $223.60.

Avery Dennison Price Performance

AVY stock opened at $217.09 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.69 and a debt-to-equity ratio of 0.94. The business has a 50 day simple moving average of $215.51 and a 200-day simple moving average of $200.13. Avery Dennison Co. has a twelve month low of $158.93 and a twelve month high of $225.26. The company has a market capitalization of $17.48 billion, a P/E ratio of 31.69, a PEG ratio of 3.28 and a beta of 0.90.

Avery Dennison (NYSE:AVY) last issued its quarterly earnings results on Wednesday, January 31st. The industrial products company reported $2.16 earnings per share for the quarter, hitting the consensus estimate of $2.16. Avery Dennison had a return on equity of 32.59% and a net margin of 6.56%. The firm had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.10 billion. During the same period last year, the company earned $1.65 earnings per share. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. As a group, equities analysts anticipate that Avery Dennison Co. will post 9.26 EPS for the current year.

Avery Dennison Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, March 6th were issued a dividend of $0.81 per share. This represents a $3.24 annualized dividend and a dividend yield of 1.49%. The ex-dividend date of this dividend was Tuesday, March 5th. Avery Dennison’s dividend payout ratio is presently 47.30%.

About Avery Dennison

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.