Aigen Investment Management LP Sells 1,474 Shares of Avery Dennison Co. (NYSE:AVY)

Aigen Investment Management LP trimmed its holdings in shares of Avery Dennison Co. (NYSE:AVY) by 31.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,175 shares of the industrial products company’s stock after selling 1,474 shares during the period. Aigen Investment Management LP’s holdings in Avery Dennison were worth $594,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of AVY. Larson Financial Group LLC grew its holdings in Avery Dennison by 100.0% during the third quarter. Larson Financial Group LLC now owns 142 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 71 shares during the period. Kennebec Savings Bank acquired a new position in Avery Dennison during the third quarter valued at approximately $36,000. Regents Gate Capital LLP acquired a new position in Avery Dennison during the fourth quarter valued at approximately $37,000. Peterson Financial Group Inc. acquired a new position in Avery Dennison during the third quarter valued at approximately $39,000. Finally, Spire Wealth Management grew its holdings in Avery Dennison by 76.0% during the fourth quarter. Spire Wealth Management now owns 301 shares of the industrial products company’s stock valued at $56,000 after purchasing an additional 130 shares during the period. 94.17% of the stock is owned by institutional investors.

Avery Dennison Stock Performance

Shares of AVY stock opened at $182.60 on Friday. The company’s fifty day simple moving average is $186.21 and its 200-day simple moving average is $201.10. The company has a quick ratio of 0.73, a current ratio of 1.08 and a debt-to-equity ratio of 1.10. The firm has a market cap of $14.42 billion, a PE ratio of 20.94, a P/E/G ratio of 2.07 and a beta of 0.89. Avery Dennison Co. has a 12 month low of $178.72 and a 12 month high of $233.48.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.38 EPS for the quarter, missing analysts’ consensus estimates of $2.39 by ($0.01). Avery Dennison had a return on equity of 33.06% and a net margin of 8.05%. Equities research analysts expect that Avery Dennison Co. will post 9.96 EPS for the current fiscal year.

Avery Dennison Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date of this dividend is Wednesday, March 5th. Avery Dennison’s dividend payout ratio is presently 40.37%.

Insiders Place Their Bets

In other Avery Dennison news, Chairman Mitchell R. Butier sold 8,068 shares of the company’s stock in a transaction on 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 sale, the chairman now directly owns 316,300 shares of the company’s stock, valued at approximately $58,891,897. This represents a 2.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on AVY shares. Citigroup decreased their price objective on shares of Avery Dennison from $228.00 to $202.00 and set a “neutral” rating for the company in a report on Monday, January 6th. BMO Capital Markets set a $226.00 price objective on shares of Avery Dennison in a report on Monday, February 3rd. Truist Financial restated a “buy” rating and set a $215.00 price objective (down previously from $245.00) on shares of Avery Dennison in a report on Friday, January 31st. UBS Group decreased their price objective on shares of Avery Dennison from $235.00 to $207.00 and set a “neutral” rating for the company in a report on Friday, January 10th. Finally, Barclays reduced their price target on shares of Avery Dennison from $245.00 to $225.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $222.51.

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.